Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz Sells 26,252 Shares

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 26,252 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the completion of the transaction, the director now directly owns 420,000 shares of the company’s stock, valued at $81,862,200. This trade represents a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Paylocity Stock Down 0.3 %

Shares of NASDAQ PCTY traded down $0.57 during trading on Wednesday, hitting $194.12. The stock had a trading volume of 308,548 shares, compared to its average volume of 465,759. The firm has a fifty day moving average of $201.60 and a two-hundred day moving average of $192.03. The company has a market capitalization of $10.85 billion, a PE ratio of 49.77, a PEG ratio of 4.49 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $223.80.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. As a group, equities research analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on PCTY shares. Jefferies Financial Group boosted their price target on Paylocity from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Stifel Nicolaus raised their price target on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 7th. JMP Securities boosted their price objective on shares of Paylocity from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research note on Friday, February 7th. Raymond James reaffirmed an “outperform” rating and set a $265.00 target price (up from $215.00) on shares of Paylocity in a report on Friday, February 7th. Finally, Mizuho raised Paylocity from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $200.00 to $235.00 in a research note on Friday, January 31st. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $233.25.

Institutional Investors Weigh In On Paylocity

Several large investors have recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Paylocity by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker’s stock valued at $1,916,000 after acquiring an additional 49 shares during the last quarter. Bessemer Group Inc. lifted its stake in Paylocity by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 19,118 shares of the software maker’s stock valued at $3,813,000 after purchasing an additional 51 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock valued at $55,000 after purchasing an additional 63 shares during the last quarter. UMB Bank n.a. grew its holdings in Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after purchasing an additional 72 shares during the period. Finally, HighPoint Advisor Group LLC increased its position in Paylocity by 5.1% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,559 shares of the software maker’s stock worth $326,000 after buying an additional 75 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

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.