Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 23,243 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY - Get Free Report) Director Steven I. Sarowitz sold 23,243 shares of Paylocity stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $191.00, for a total value of $4,439,413.00. Following the sale, the director now directly owns 470,452 shares of the company's stock, valued at $89,856,332. This trade represents a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Paylocity Stock Performance

Shares of Paylocity stock traded down $4.51 during trading hours on Friday, hitting $186.62. 251,306 shares of the company were exchanged, compared to its average volume of 475,223. The business has a 50-day moving average of $201.41 and a 200-day moving average of $192.04. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 47.85, a P/E/G ratio of 4.49 and a beta of 0.94.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. As a group, analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

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Analyst Ratings Changes

PCTY has been the topic of several recent analyst reports. KeyCorp increased their price target on shares of Paylocity from $220.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Mizuho upgraded shares of Paylocity from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $200.00 to $235.00 in a research note on Friday, January 31st. Stifel Nicolaus boosted their price target on shares of Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, February 7th. StockNews.com lowered Paylocity from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, Barclays lifted their target price on Paylocity from $214.00 to $231.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $233.25.

Hedge Funds Weigh In On Paylocity

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

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.