Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 12,226 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 12,226 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $196.29, for a total value of $2,399,841.54. Following the completion of the transaction, the director now owns 9,300,847 shares of the company’s stock, valued at $1,825,663,257.63. The trade was a 0.13 % 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 Stock Up 0.3 %

Shares of Paylocity stock opened at $195.28 on Thursday. The company has a 50 day moving average of $176.43 and a 200 day moving average of $159.08. The company has a market capitalization of $10.89 billion, a P/E ratio of 49.94, a P/E/G ratio of 4.89 and a beta of 0.93. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $215.68. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PCTY shares. KeyCorp increased their target price on shares of Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Barclays upped their target price on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and set a $250.00 target price on shares of Paylocity in a report on Monday, August 5th. Needham & Company LLC lifted their target price on shares of Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, StockNews.com lowered Paylocity from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $196.64.

Hedge Funds Weigh In On Paylocity

Large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Paylocity by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock worth $1,518,176,000 after acquiring an additional 278,607 shares during the period. Geode Capital Management LLC boosted its position in Paylocity by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock worth $173,053,000 after acquiring an additional 36,590 shares during the last quarter. Liontrust Investment Partners LLP grew its position in shares of Paylocity by 27.1% in the second 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 during the period. Van Berkom & Associates Inc. grew its holdings in Paylocity by 20.5% in the 2nd quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker’s stock valued at $76,447,000 after buying an additional 98,478 shares during the period. Finally, Janus Henderson Group PLC increased its position 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 purchasing an additional 17,560 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.