Paylocity Holding Co. (NASDAQ:PCTY) Director Jeffrey T. Diehl Sells 946 Shares

Paylocity Holding Co. (NASDAQ:PCTY) Director Jeffrey T. Diehl sold 946 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $204.74, for a total transaction of $193,684.04. Following the sale, the director now directly owns 1,767 shares in the company, valued at approximately $361,775.58. The trade was a 34.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Paylocity Trading Down 0.4 %

Paylocity stock opened at $194.78 on Wednesday. The stock has a market cap of $10.86 billion, a P/E ratio of 49.82, a PEG ratio of 4.96 and a beta of 0.93. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68. The firm’s 50 day moving average price is $175.69 and its 200-day moving average price is $158.89.

Institutional Investors Weigh In On Paylocity

Several institutional investors and hedge funds have recently modified their holdings of PCTY. Price T Rowe Associates Inc. MD raised its position in shares of Paylocity by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock valued at $1,518,176,000 after buying an additional 278,607 shares during the last quarter. Capital Research Global Investors purchased a new position in shares of Paylocity in the first quarter valued at $46,902,000. Millennium Management LLC grew its holdings in shares of Paylocity by 435.2% in the second quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock valued at $43,676,000 after purchasing an additional 269,354 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Paylocity by 283.8% in the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock valued at $51,101,000 after purchasing an additional 229,057 shares in the last quarter. Finally, Liontrust Investment Partners LLP grew its holdings in shares of Paylocity by 27.1% in the second quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock valued at $106,840,000 after purchasing an additional 172,807 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PCTY. StockNews.com downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Jefferies Financial Group increased their price objective on shares of Paylocity from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. BTIG Research lowered their price objective on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. JMP Securities reiterated a “market outperform” rating and issued a $250.00 price objective on shares of Paylocity in a research note on Monday, August 5th. Finally, Piper Sandler increased their price objective on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $196.64.

Paylocity Company Profile

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.