Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $520,364.00 in Stock

Paylocity Holding Co. (NASDAQ:PCTY - Get Free Report) Director Steven I. Sarowitz sold 2,600 shares of the business's stock in a transaction dated Monday, December 30th. The stock was 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Paylocity Stock Down 2.2 %

Paylocity stock traded down $4.40 during mid-day trading on Thursday, hitting $195.07. 241,855 shares of the company's stock were exchanged, compared to its average volume of 483,470. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $215.68. The stock has a 50 day moving average of $200.48 and a two-hundred day moving average of $169.61. The stock has a market cap of $10.87 billion, a P/E ratio of 49.89, a P/E/G ratio of 4.93 and a beta of 0.92. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Rothschild Investment LLC bought a new position in shares of Paylocity in the second quarter valued at approximately $40,000. Van ECK Associates Corp boosted its holdings in Paylocity by 4.6% during the second quarter. Van ECK Associates Corp now owns 8,375 shares of the software maker's stock valued at $1,104,000 after acquiring an additional 370 shares during the period. CIBC Asset Management Inc grew its position in shares of Paylocity by 12.1% in the second quarter. CIBC Asset Management Inc now owns 1,594 shares of the software maker's stock valued at $210,000 after purchasing an additional 172 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Paylocity by 0.6% in the second quarter. Rhumbline Advisers now owns 129,753 shares of the software maker's stock worth $17,108,000 after purchasing an additional 747 shares during the period. Finally, TD Asset Management Inc lifted its position in shares of Paylocity by 2.5% during the 2nd quarter. TD Asset Management Inc now owns 290,053 shares of the software maker's stock worth $38,243,000 after purchasing an additional 6,956 shares during the last quarter. 94.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on PCTY. Piper Sandler boosted their price target on shares of Paylocity from $172.00 to $212.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Barclays boosted their target price on shares of Paylocity from $174.00 to $180.00 and gave the company an "equal weight" rating in a research note on Thursday, October 31st. Needham & Company LLC raised their target price on Paylocity from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Truist Financial upped their price target on Paylocity from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Finally, BMO Capital Markets raised their price objective on Paylocity from $175.00 to $203.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Paylocity has a consensus rating of "Moderate Buy" and an average target price 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.