Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $2,133,334.06 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 10,621 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $200.86, for a total transaction of $2,133,334.06. Following the transaction, the director now owns 8,365,533 shares of the company’s stock, valued at approximately $1,680,300,958.38. This represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Paylocity Price Performance

NASDAQ:PCTY opened at $194.40 on Thursday. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68. 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 firm’s 50-day simple moving average is $194.15 and its 200 day simple moving average is $165.25. The firm has a market cap of $10.84 billion, a price-to-earnings ratio of 49.72, a P/E/G ratio of 4.93 and a beta of 0.92.

Analyst Ratings Changes

Several brokerages recently commented on PCTY. KeyCorp increased their price target on Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Barclays raised 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. Mizuho upped their price target on shares of Paylocity from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Needham & Company LLC lifted their price objective on shares of Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Truist Financial upped their target price on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Paylocity currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.71.

Institutional Trading of Paylocity

Institutional investors have recently bought and sold shares of the company. Millennium Management LLC raised its stake in shares of Paylocity by 435.2% during the 2nd quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock worth $43,676,000 after purchasing an additional 269,354 shares during the period. Point72 Asset Management L.P. raised its position in shares of Paylocity by 283.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock valued at $51,101,000 after buying an additional 229,057 shares in the last quarter. Liontrust Investment Partners LLP boosted its holdings in shares of Paylocity by 27.1% in the 2nd quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock worth $106,840,000 after purchasing an additional 172,807 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Paylocity by 1,662.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 181,920 shares of the software maker’s stock worth $23,986,000 after acquiring an additional 171,597 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Paylocity by 58.3% in the second quarter. Dimensional Fund Advisors LP now owns 335,946 shares of the software maker’s stock worth $44,296,000 after purchasing an additional 123,744 shares during the last quarter. Institutional investors 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.