Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz Sells 3,083 Shares

Paylocity Holding Co. (NASDAQ:PCTY - Get Free Report) Director Steven I. Sarowitz sold 3,083 shares of the firm's stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $200.73, for a total transaction of $618,850.59. Following the completion of the transaction, the director now directly owns 8,335,347 shares of the company's stock, valued at approximately $1,673,154,203.31. The trade was a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Paylocity Trading Down 0.5 %

PCTY stock traded down $0.94 during trading on Friday, hitting $199.66. 159,990 shares of the company traded hands, compared to its average volume of 485,001. The company has a 50-day moving average of $197.91 and a 200-day moving average of $167.56. 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 1 year low of $129.94 and a 1 year high of $215.68. The firm has a market capitalization of $11.13 billion, a PE ratio of 51.06, a P/E/G ratio of 4.93 and a beta of 0.92.

Institutional Trading of Paylocity

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Paylocity by 81.9% during the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker's stock worth $141,303,000 after purchasing an additional 385,625 shares during the period. Lord Abbett & CO. LLC grew its position in shares of Paylocity by 3.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 287,264 shares of the software maker's stock worth $47,389,000 after buying an additional 8,878 shares during the last quarter. Tidal Investments LLC grew its position in shares of Paylocity by 207.0% in the 3rd quarter. Tidal Investments LLC now owns 8,836 shares of the software maker's stock worth $1,458,000 after buying an additional 5,958 shares during the last quarter. Coldstream Capital Management Inc. purchased a new position in shares of Paylocity during the third quarter valued at approximately $239,000. Finally, Geode Capital Management LLC raised its holdings in shares of Paylocity by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker's stock valued at $173,053,000 after acquiring an additional 36,590 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

Wall Street Analyst Weigh In

PCTY has been the subject of several research analyst reports. Needham & Company LLC lifted their price objective on Paylocity from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Mizuho lifted their price target on Paylocity from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, December 13th. Piper Sandler upped their price objective on shares of Paylocity from $172.00 to $212.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. TD Cowen lifted their target price on shares of Paylocity from $208.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Finally, Jefferies Financial Group raised their price objective on shares of Paylocity from $215.00 to $240.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Paylocity has an average rating of "Moderate Buy" and a consensus price target of $205.71.

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.