Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $1,442,238.00 in Stock

Paylocity Holding Co. (NASDAQ:PCTY - Get Free Report) Director Steven I. Sarowitz sold 6,900 shares of the business's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $209.02, for a total transaction of $1,442,238.00. Following the transaction, the director now directly owns 8,933,409 shares of the company's stock, valued at $1,867,261,149.18. The trade was a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Paylocity Stock Performance

Shares of NASDAQ:PCTY traded up $1.96 on Friday, hitting $205.80. 252,274 shares of the company were exchanged, compared to its average volume of 492,785. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The company's 50 day moving average price is $187.43 and its two-hundred day moving average price is $162.38. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $215.68. The firm has a market capitalization of $11.47 billion, a price-to-earnings ratio of 52.13, a PEG ratio of 5.11 and a beta of 0.92.

Hedge Funds Weigh In On Paylocity

Several large investors have recently added to or reduced their stakes in PCTY. Tidal Investments LLC lifted its position in Paylocity by 207.0% in the third quarter. Tidal Investments LLC now owns 8,836 shares of the software maker's stock worth $1,458,000 after purchasing an additional 5,958 shares during the period. Coldstream Capital Management Inc. acquired a new stake in shares of Paylocity during the 3rd quarter valued at about $239,000. Geode Capital Management LLC increased its stake in Paylocity by 3.6% in 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 during the period. Vestcor Inc raised its position in Paylocity by 943.8% in the third quarter. Vestcor Inc now owns 10,000 shares of the software maker's stock worth $1,650,000 after purchasing an additional 9,042 shares in the last quarter. Finally, Barclays PLC lifted its stake in Paylocity by 14.3% during the third quarter. Barclays PLC now owns 44,897 shares of the software maker's stock worth $7,407,000 after purchasing an additional 5,609 shares during the period. Institutional investors and hedge funds own 94.76% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. BMO Capital Markets boosted their price target on Paylocity from $175.00 to $203.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. Jefferies Financial Group boosted their price target on shares of Paylocity from $200.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Needham & Company LLC increased their price target on Paylocity from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Truist Financial upped their price objective on Paylocity from $195.00 to $210.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, KeyCorp boosted their price target on shares of Paylocity from $187.00 to $210.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Paylocity presently has an average rating of "Moderate Buy" and an average target price of $196.64.

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.

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