Steven I. Sarowitz Sells 1,400 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $200.59, for a total value of $280,826.00. Following the transaction, the director now owns 8,338,430 shares of the company’s stock, valued at $1,672,605,673.70. This trade represents a 0.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Paylocity Stock Down 0.5 %

Shares of NASDAQ PCTY opened at $199.66 on Friday. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $215.68. The stock’s fifty day simple moving average is $198.46 and its two-hundred day simple moving average is $168.16. The stock has a market capitalization of $11.13 billion, a PE ratio of 51.06, a price-to-earnings-growth ratio of 4.93 and a beta of 0.92. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PCTY. Piper Sandler boosted their price objective on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. StockNews.com raised shares of Paylocity from a “hold” rating to a “buy” rating in a research note on Saturday, December 7th. BMO Capital Markets lifted their price objective on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Jefferies Financial Group upped 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. Finally, Truist Financial lifted their price target on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.71.

Institutional Investors Weigh In On Paylocity

A number of institutional investors have recently added to or reduced their stakes in PCTY. UMB Bank n.a. raised its holdings in Paylocity by 1,650.0% in the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after purchasing an additional 165 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Paylocity in the 3rd quarter worth approximately $39,000. Rothschild Investment LLC bought a new position in shares of Paylocity during the 2nd quarter worth approximately $40,000. Signaturefd LLC lifted its position in 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 acquiring an additional 167 shares during the last quarter. Finally, Quarry LP grew its holdings 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 purchasing an additional 185 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.