Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 10,621 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY - Get Free Report) Director Steven I. Sarowitz sold 10,621 shares of Paylocity stock in a transaction on Friday, December 13th. The stock was sold at an average price of $200.86, for a total transaction of $2,133,334.06. Following the completion of the transaction, the director now owns 8,365,533 shares in the company, valued at $1,680,300,958.38. This trade represents a 0.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Paylocity Trading Up 1.3 %

Shares of PCTY stock traded up $2.61 on Monday, reaching $202.78. 317,905 shares of the stock were exchanged, compared to its average volume of 490,940. The stock has a 50 day moving average price of $191.97 and a 200 day moving average price of $164.21. The stock has a market cap of $11.30 billion, a PE ratio of 51.86, a P/E/G ratio of 4.93 and a beta of 0.92. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $215.68. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32.

Analysts Set New Price Targets

A number of analysts have issued reports on PCTY shares. Truist Financial raised their target price on Paylocity from $195.00 to $210.00 and gave the company a "buy" rating in a report on Friday, November 1st. Mizuho boosted their target price on shares of Paylocity from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday. TD Cowen upped their target price on shares of Paylocity from $208.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, December 9th. BMO Capital Markets raised their price target on shares of Paylocity from $175.00 to $203.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. Finally, StockNews.com raised shares of Paylocity from a "hold" rating to a "buy" rating in a research report on Saturday, December 7th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $205.71.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in Paylocity by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker's stock worth $173,053,000 after acquiring an additional 36,590 shares during the last quarter. Liontrust Investment Partners LLP grew its holdings in shares of Paylocity by 27.1% in the 2nd quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker's stock valued at $106,840,000 after buying an additional 172,807 shares during the period. Van Berkom & Associates Inc. grew its holdings in shares of Paylocity by 20.5% in the 2nd quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker's stock valued at $76,447,000 after buying an additional 98,478 shares during the period. Janus Henderson Group PLC increased its position in shares of Paylocity by 3.5% in the 3rd quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker's stock valued at $85,444,000 after buying an additional 17,560 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Paylocity by 4.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 472,686 shares of the software maker's stock worth $62,324,000 after buying an additional 21,127 shares during the period. 94.76% of the stock is currently owned by institutional investors.

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.