Steven I. Sarowitz Sells 13,689 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 13,689 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $203.29, for a total transaction of $2,782,836.81. Following the sale, the director now directly owns 8,385,954 shares of the company’s stock, valued at $1,704,780,588.66. This trade represents a 0.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Paylocity Trading Down 2.2 %

Shares of NASDAQ:PCTY traded down $4.42 during trading on Friday, reaching $200.17. 364,220 shares of the company were exchanged, compared to its average volume of 491,053. The firm has a market capitalization of $11.16 billion, a PE ratio of 52.32, a P/E/G ratio of 5.00 and a beta of 0.92. The business’s fifty day simple moving average is $191.37 and its 200-day simple moving average is $163.69. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $215.68. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32.

Analyst Upgrades and Downgrades

PCTY has been the subject of several analyst reports. StockNews.com raised shares of Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday, December 7th. Jefferies Financial Group raised their price target on shares of Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a research report on Monday. BMO Capital Markets lifted their target price on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Barclays lifted their target price on shares of Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, TD Cowen lifted their target price on shares of Paylocity from $208.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.71.

Hedge Funds Weigh In On Paylocity

Several institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC boosted its stake in Paylocity by 16,397.9% in the third quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock valued at $1,279,000 after acquiring an additional 7,707 shares in the last quarter. Edgestream Partners L.P. boosted its stake in Paylocity by 222.3% in the third quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock valued at $1,788,000 after acquiring an additional 7,475 shares in the last quarter. Qsemble Capital Management LP acquired a new stake in Paylocity in the second quarter valued at approximately $842,000. Quest Partners LLC boosted its stake in Paylocity by 82,275.0% in the second quarter. Quest Partners LLC now owns 6,590 shares of the software maker’s stock valued at $869,000 after acquiring an additional 6,582 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in Paylocity by 21.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 58,087 shares of the software maker’s stock valued at $7,659,000 after acquiring an additional 10,323 shares in 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.