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

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 11,306 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now directly owns 9,243,074 shares in the company, valued at approximately $1,886,234,111.18. This represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $211.88 on Wednesday. The firm has a 50 day simple moving average of $181.09 and a 200 day simple moving average of $160.41. The company has a market cap of $11.81 billion, a price-to-earnings ratio of 54.19, a PEG ratio of 5.17 and a beta of 0.93. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $215.68. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PCTY shares. KeyCorp raised their price target on shares of Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. BTIG Research dropped their price target on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Truist Financial increased their price target on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group lifted their price objective on Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, StockNews.com raised Paylocity from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $196.64.

Institutional Investors Weigh In On Paylocity

Several hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC raised its position in Paylocity by 16,397.9% in the third quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock valued at $1,279,000 after purchasing an additional 7,707 shares during the last quarter. Cetera Advisors LLC bought a new position in Paylocity in the 1st quarter valued at approximately $729,000. Plato Investment Management Ltd boosted its position in Paylocity by 4,853.3% during the 1st quarter. Plato Investment Management Ltd now owns 3,715 shares of the software maker’s stock worth $638,000 after buying an additional 3,640 shares during the period. Cetera Investment Advisers grew its holdings in Paylocity by 128.7% during the 1st quarter. Cetera Investment Advisers now owns 11,783 shares of the software maker’s stock worth $2,025,000 after acquiring an additional 6,630 shares during the last quarter. Finally, Qsemble Capital Management LP acquired a new position in Paylocity in the 2nd quarter valued at approximately $842,000. Institutional investors and hedge funds 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.