Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $3,018,220.92 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 15,444 shares of Paylocity stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $195.43, for a total value of $3,018,220.92. Following the transaction, the director now owns 9,272,906 shares in the company, valued at approximately $1,812,204,019.58. This trade represents a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Paylocity Stock Performance

Shares of PCTY stock opened at $205.28 on Monday. The stock’s fifty day simple moving average is $179.02 and its 200-day simple moving average is $159.80. The company has a market capitalization of $11.44 billion, a price-to-earnings ratio of 52.50, a P/E/G ratio of 5.06 and a beta of 0.93. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $215.68.

Analyst Ratings Changes

A number of research firms recently issued reports on PCTY. JMP Securities reaffirmed a “market outperform” rating and set a $250.00 target price on shares of Paylocity in a report on Monday, August 5th. StockNews.com upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a report on Thursday. Mizuho increased their target price on shares of Paylocity from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Piper Sandler upped their price target on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC increased their price objective on Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Paylocity has an average rating of “Moderate Buy” and an average price target of $196.64.

Hedge Funds Weigh In On Paylocity

Large investors have recently made changes to their positions in the business. International Assets Investment Management LLC grew its position in Paylocity by 16,397.9% during 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 in the last quarter. Cetera Advisors LLC acquired a new stake in shares of Paylocity during the 1st quarter valued at $729,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Paylocity by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock valued at $1,518,176,000 after acquiring an additional 278,607 shares in the last quarter. Capital Research Global Investors acquired a new position in shares of Paylocity in the first quarter worth $46,902,000. Finally, Plato Investment Management Ltd raised its holdings in shares of Paylocity by 4,853.3% during the first quarter. Plato Investment Management Ltd now owns 3,715 shares of the software maker’s stock worth $638,000 after acquiring an additional 3,640 shares in the last quarter. 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.