Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 4,513 Shares of Stock

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

Paylocity Stock Performance

NASDAQ PCTY traded down $2.33 on Friday, hitting $207.54. 226,511 shares of the stock traded hands, compared to its average volume of 497,889. The firm has a market capitalization of $11.57 billion, a price-to-earnings ratio of 53.68, a PEG ratio of 5.17 and a beta of 0.93. The business’s fifty day moving average is $183.00 and its two-hundred day moving average is $161.10. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $215.68.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc increased its stake in shares of Paylocity by 3.6% in the third quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker’s stock worth $273,000 after purchasing an additional 58 shares in the last quarter. Chicago Partners Investment Group LLC raised its holdings in Paylocity by 3.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker’s stock valued at $395,000 after acquiring an additional 82 shares during the period. Covestor Ltd lifted its position in shares of Paylocity by 6.4% during the third quarter. Covestor Ltd now owns 1,373 shares of the software maker’s stock worth $227,000 after acquiring an additional 83 shares in the last quarter. King Luther Capital Management Corp boosted its holdings in shares of Paylocity by 1.0% in the second quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker’s stock worth $1,316,000 after acquiring an additional 103 shares during the period. Finally, SkyOak Wealth LLC grew its position in shares of Paylocity by 7.1% in the second quarter. SkyOak Wealth LLC now owns 1,837 shares of the software maker’s stock valued at $242,000 after purchasing an additional 122 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

PCTY has been the subject of several recent research reports. Mizuho boosted their target price on shares of Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. StockNews.com downgraded Paylocity from a “buy” rating to a “hold” rating in a research note on Friday. Truist Financial lifted their target price on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 1st. BTIG Research lowered their price target on Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Piper Sandler lifted their price objective on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $196.64.

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.