Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 29,606 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Jeffrey T. Diehl sold 29,606 shares of Paylocity stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $196.55, for a total value of $5,819,059.30. Following the completion of the transaction, the director now owns 11,755 shares in the company, valued at $2,310,445.25. The trade was a 0.00 % 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 Price Performance

Shares of PCTY traded down $3.08 on Thursday, hitting $210.71. The company’s stock had a trading volume of 775,626 shares, compared to its average volume of 504,828. The company has a market capitalization of $11.75 billion, a PE ratio of 54.68, a PEG ratio of 4.63 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 fifty-two week low of $129.94 and a fifty-two week high of $213.98. The company has a 50 day moving average price of $168.04 and a 200 day moving average price of $155.99.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PCTY. BNP Paribas Financial Markets lifted its holdings in Paylocity by 55.2% during the 1st quarter. BNP Paribas Financial Markets now owns 36,818 shares of the software maker’s stock worth $6,328,000 after buying an additional 13,093 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Paylocity by 12.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,343 shares of the software maker’s stock worth $1,090,000 after buying an additional 708 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Paylocity by 3.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 2,900 shares of the software maker’s stock worth $498,000 after buying an additional 100 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Paylocity during the 1st quarter worth $219,000. Finally, Texas Permanent School Fund Corp lifted its holdings in Paylocity by 1.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 37,961 shares of the software maker’s stock worth $6,524,000 after buying an additional 594 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on PCTY shares. BTIG Research dropped their price objective on Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets boosted their price target on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Barclays boosted their price target on Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Finally, JMP Securities restated a “market outperform” rating and set a $250.00 price target on shares of Paylocity in a research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.20.

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.