Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 11,778 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 11,778 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $203.44, for a total transaction of $2,396,116.32. Following the transaction, the director now directly owns 8,414,936 shares in the company, valued at approximately $1,711,934,579.84. This represents a 0.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Paylocity Stock Performance

NASDAQ PCTY traded down $0.67 on Wednesday, reaching $202.91. 453,122 shares of the stock were exchanged, compared to its average volume of 492,207. The company’s 50-day simple moving average is $189.90 and its two-hundred day simple moving average is $163.12. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $215.68. The firm has a market capitalization of $11.31 billion, a PE ratio of 52.07, a PEG ratio of 5.07 and a beta of 0.92. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29.

Analyst Upgrades and Downgrades

PCTY has been the subject of a number of analyst reports. Piper Sandler lifted their price target on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Barclays lifted their target price on Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. KeyCorp raised their price objective on Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Mizuho lifted their price objective on shares of Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, Truist Financial increased their target price on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $204.29.

Institutional Trading of Paylocity

Several hedge funds have recently modified their holdings of PCTY. UMB Bank n.a. boosted its holdings in shares of Paylocity by 1,650.0% in the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after purchasing an additional 165 shares during the period. Prospera Private Wealth LLC purchased a new stake in shares of Paylocity during the 3rd quarter valued at $39,000. Rothschild Investment LLC acquired a new stake in shares of Paylocity in the 2nd quarter worth $40,000. Signaturefd LLC increased its position in Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after buying an additional 167 shares in the last quarter. Finally, Quarry LP raised its stake in Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after buying an additional 185 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

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.