Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 26,252 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 26,252 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the completion of the sale, the director now directly owns 420,000 shares in the company, valued at approximately $81,862,200. The trade was a 5.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Paylocity Stock Down 1.5 %

NASDAQ:PCTY opened at $191.13 on Friday. The stock’s fifty day moving average price is $201.41 and its two-hundred day moving average price is $192.04. The company has a market cap of $10.68 billion, a price-to-earnings ratio of 49.01, a P/E/G ratio of 4.49 and a beta of 0.94. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $223.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. On average, analysts anticipate that Paylocity Holding Co. will post 4.36 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Needham & Company LLC upped their price objective on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 7th. KeyCorp lifted their price objective on Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $254.00 target price (up previously from $212.00) on shares of Paylocity in a report on Thursday, February 6th. Mizuho raised shares of Paylocity from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $200.00 to $235.00 in a report on Friday, January 31st. Finally, JMP Securities raised their price objective on shares of Paylocity from $250.00 to $270.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Paylocity currently has a consensus rating of “Moderate Buy” and an average price target of $233.25.

Institutional Investors Weigh In On Paylocity

Institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new position in Paylocity in the fourth quarter valued at approximately $29,000. UMB Bank n.a. raised its position in shares of Paylocity by 41.1% during the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after acquiring an additional 72 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Paylocity by 489.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $54,000 after purchasing an additional 225 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of Paylocity by 29.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock worth $55,000 after purchasing an additional 63 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Paylocity by 149.2% during the third quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after purchasing an additional 185 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.