Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $618,850.59 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 3,083 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $200.73, for a total value of $618,850.59. Following the completion of the transaction, the director now 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 filing with the SEC, which is available at the SEC website.

Paylocity Price Performance

PCTY stock opened at $199.66 on Monday. 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 has a 50-day moving average of $198.46 and a 200 day moving average of $168.36. The company has a market cap of $11.13 billion, a P/E ratio of 51.06, a PEG ratio of 4.93 and a beta of 0.92.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised 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 worth $173,053,000 after purchasing an additional 36,590 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Paylocity by 81.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock valued at $141,303,000 after acquiring an additional 385,625 shares during the period. Van Berkom & Associates Inc. grew its holdings in Paylocity by 20.5% in the second quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker’s stock worth $76,447,000 after purchasing an additional 98,478 shares during the period. Janus Henderson Group PLC increased its stake in shares of Paylocity by 3.5% during the third quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock valued at $85,444,000 after purchasing an additional 17,560 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of 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 valued at $62,324,000 after purchasing an additional 21,127 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Analysts Set New Price Targets

PCTY has been the topic of several analyst reports. Mizuho lifted their price objective on Paylocity from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday, December 7th. Barclays raised their target price 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. Piper Sandler upped their price target on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, TD Cowen raised their price target on shares of Paylocity from $208.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.