Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 13,689 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 13,689 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $203.29, for a total value of $2,782,836.81. Following the completion of the sale, the director now directly owns 8,385,954 shares of the company’s stock, valued at $1,704,780,588.66. The trade was a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Paylocity Price Performance

Shares of PCTY opened at $200.17 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. The stock’s 50 day moving average is $191.97 and its two-hundred day moving average is $164.10. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $215.68. The firm has a market capitalization of $11.16 billion, a PE ratio of 51.19, a P/E/G ratio of 5.00 and a beta of 0.92.

Institutional Trading of Paylocity

A number of institutional investors have recently modified their holdings of PCTY. Geode Capital Management LLC lifted its holdings in Paylocity by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock valued at $173,053,000 after acquiring an additional 36,590 shares during the period. Liontrust Investment Partners LLP increased its holdings in shares of Paylocity by 27.1% in the 2nd 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. Van Berkom & Associates Inc. lifted its stake in shares of Paylocity by 20.5% in the second quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker’s stock valued at $76,447,000 after purchasing an additional 98,478 shares during the period. Janus Henderson Group PLC boosted its holdings in Paylocity by 3.5% during the third quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock worth $85,444,000 after buying an additional 17,560 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Paylocity by 4.7% during the second quarter. Bank of New York Mellon Corp now owns 472,686 shares of the software maker’s stock worth $62,324,000 after buying an additional 21,127 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on PCTY shares. Jefferies Financial Group boosted their price objective on Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Truist Financial upped their price target on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 1st. TD Cowen raised their price objective on shares of Paylocity from $208.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. KeyCorp lifted their price objective on shares of Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Piper Sandler increased their target price 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. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Paylocity presently has a consensus rating of “Moderate Buy” and an average target price of $205.71.

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.