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

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 11,473 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $203.37, for a total transaction of $2,333,264.01. Following the transaction, the director now owns 8,344,545 shares of the company’s stock, valued at approximately $1,697,030,116.65. This represents a 0.14 % 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 Trading Up 0.3 %

Shares of PCTY opened at $196.83 on Friday. The stock’s fifty day simple moving average is $195.46 and its 200-day simple moving average is $166.05. The firm has a market capitalization of $10.97 billion, a PE ratio of 50.34, a price-to-earnings-growth ratio of 4.93 and a beta of 0.92. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $215.68. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Fifth Third Wealth Advisors LLC acquired a new position in Paylocity in the second quarter valued at approximately $185,000. Bank of New York Mellon Corp boosted its position in shares of 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 worth $62,324,000 after purchasing an additional 21,127 shares during the last quarter. Liontrust Investment Partners LLP grew its stake in shares of 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 purchasing an additional 172,807 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Paylocity by 1.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,551 shares of the software maker’s stock valued at $2,578,000 after purchasing an additional 235 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Paylocity by 217.2% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 26,477 shares of the software maker’s stock valued at $3,491,000 after buying an additional 18,131 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PCTY shares. Jefferies Financial Group raised their target price on Paylocity from $215.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Truist Financial boosted their target price 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. Mizuho increased their target price on shares of Paylocity from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. BMO Capital Markets boosted their price target on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, TD Cowen upped their price objective on shares of Paylocity from $208.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.71.

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.