Jeffrey T. Diehl Sells 4,513 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Jeffrey T. Diehl sold 4,513 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $209.91, for a total value of $947,323.83. Following the transaction, the director now directly owns 1,003 shares of the company’s stock, valued at approximately $210,539.73. This trade represents a 81.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $207.54 on Friday. The stock’s 50-day simple moving average is $183.90 and its two-hundred day simple moving average is $161.32. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $215.68. The firm has a market capitalization of $11.57 billion, a P/E ratio of 53.08, a P/E/G ratio of 5.17 and a beta of 0.93. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Needham & Company LLC lifted their price objective on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a 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 note on Thursday, October 31st. Piper Sandler upped their price target on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and issued a $250.00 price objective on shares of Paylocity in a research note on Monday, August 5th. Finally, Truist Financial increased their target price on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Paylocity presently has an average rating of “Moderate Buy” and an average price target of $196.64.

Institutional Inflows and Outflows

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

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.