Steven I. Sarowitz Sells 11,306 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 11,306 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $204.07, for a total value of $2,307,215.42. Following the sale, the director now owns 9,243,074 shares in the company, valued at $1,886,234,111.18. This trade represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Paylocity Trading Up 0.8 %

NASDAQ PCTY traded up $1.77 during mid-day trading on Tuesday, reaching $211.88. 312,475 shares of the stock were exchanged, compared to its average volume of 499,204. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a market capitalization of $11.81 billion, a PE ratio of 53.74, a PEG ratio of 5.05 and a beta of 0.93. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $215.68. The business’s fifty day simple moving average is $180.08 and its 200 day simple moving average is $160.07.

Hedge Funds Weigh In On Paylocity

Large investors have recently bought and sold shares of the stock. UMB Bank n.a. increased its stake in Paylocity by 1,650.0% during the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after buying an additional 165 shares during the period. Prospera Private Wealth LLC bought a new stake in Paylocity in the 3rd quarter valued at about $39,000. Rothschild Investment LLC bought a new position in Paylocity in the 2nd quarter worth approximately $40,000. Signaturefd LLC raised its stake in shares of Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after purchasing an additional 167 shares in the last quarter. Finally, Quarry LP lifted its stake in shares of Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after acquiring an additional 185 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. 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 research note on Thursday, October 31st. Truist Financial boosted their price target on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets boosted their target price on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Needham & Company LLC upped their target price on shares of Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Piper Sandler increased their price target on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $196.64.

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.