Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 3,083 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 3,083 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $200.73, for a total value of $618,850.59. Following the sale, the director now directly owns 8,335,347 shares of the company’s stock, valued at $1,673,154,203.31. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Paylocity Stock Down 0.5 %

PCTY opened at $199.66 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market cap of $11.13 billion, a price-to-earnings ratio of 51.06, a PEG ratio of 4.93 and a beta of 0.92. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $215.68. The business’s fifty day moving average is $198.46 and its two-hundred day moving average is $168.16.

Institutional Investors Weigh In On Paylocity

Several institutional investors and hedge funds have recently made changes to their positions in the business. UMB Bank n.a. increased its holdings in Paylocity by 1,650.0% during the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after acquiring an additional 165 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Paylocity in the third quarter valued at approximately $39,000. Rothschild Investment LLC acquired a new stake in shares of Paylocity in the second quarter valued at approximately $40,000. Signaturefd LLC increased its stake in shares of Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after purchasing an additional 167 shares in the last quarter. Finally, Quarry LP raised its position in shares of Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after purchasing an additional 185 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PCTY. KeyCorp increased their price target on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Piper Sandler lifted their target price on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Barclays increased their price target on shares of Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. BMO Capital Markets lifted their price objective on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Truist Financial increased their target price on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $205.71.

About Paylocity

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.