Steven I. Sarowitz Sells 2,600 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 2,600 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $200.14, for a total value of $520,364.00. Following the sale, the director now owns 8,332,347 shares in the company, valued at approximately $1,667,635,928.58. The trade was a 0.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Paylocity Stock Performance

Paylocity stock opened at $195.07 on Friday. The company has a market cap of $10.87 billion, a PE ratio of 49.89, a P/E/G 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 fifty day moving average price of $200.48 and a two-hundred day moving average price of $169.61. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32.

Institutional Investors Weigh In On Paylocity

A number of institutional investors have recently modified their holdings of PCTY. UMB Bank n.a. lifted 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 acquiring an additional 165 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Paylocity during the 3rd quarter worth approximately $39,000. Rothschild Investment LLC bought a new stake in shares of Paylocity in the 2nd quarter worth approximately $40,000. Signaturefd LLC boosted its position in Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after purchasing an additional 167 shares during the period. Finally, Quarry LP grew its stake in Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after buying an additional 185 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

PCTY has been the topic of a number of analyst reports. Mizuho lifted their price objective on shares of Paylocity from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. BMO Capital Markets lifted their price target on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. StockNews.com raised shares of Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday, December 7th. Barclays lifted their target price on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group increased their price target on Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a report on Monday, December 9th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.