Steven I. Sarowitz Sells 11,473 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 11,473 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $203.37, for a total transaction of $2,333,264.01. Following the transaction, the director now directly owns 8,344,545 shares in the company, valued at approximately $1,697,030,116.65. This represents a 0.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Paylocity Price Performance

Shares of Paylocity stock traded up $1.80 during trading hours on Thursday, reaching $196.20. 344,683 shares of the company’s stock were exchanged, compared to its average volume of 488,814. The company has a market capitalization of $10.94 billion, a P/E ratio of 50.18, a price-to-earnings-growth ratio of 4.93 and a beta of 0.92. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68. The business has a fifty day moving average of $194.15 and a two-hundred day moving average of $165.25. 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 Analysts Forecast Growth

Several research analysts have recently commented on the company. KeyCorp lifted their price objective on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Jefferies Financial Group lifted their target price on shares of Paylocity from $215.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Piper Sandler boosted their price objective on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Mizuho boosted their target price on Paylocity from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Finally, Barclays boosted their price objective on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in Paylocity by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock valued at $173,053,000 after buying an additional 36,590 shares in the last quarter. Liontrust Investment Partners LLP increased its stake in Paylocity by 27.1% during the second quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock worth $106,840,000 after acquiring an additional 172,807 shares during the last quarter. Van Berkom & Associates Inc. lifted its stake in shares of 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 purchasing an additional 98,478 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Paylocity by 3.5% during the 3rd 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 period. Finally, Bank of New York Mellon Corp raised its holdings in Paylocity by 4.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 472,686 shares of the software maker’s stock valued at $62,324,000 after buying an additional 21,127 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.