Steven I. Sarowitz Sells 1,400 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY - Get Free Report) Director Steven I. Sarowitz sold 1,400 shares of the business's stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $200.59, for a total transaction of $280,826.00. Following the transaction, the director now owns 8,338,430 shares in the company, valued at approximately $1,672,605,673.70. The trade was a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Paylocity Stock Performance

Shares of PCTY traded down $0.94 during mid-day trading on Friday, hitting $199.66. 159,990 shares of the company's stock were exchanged, compared to its average volume of 485,001. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68. The stock's 50-day simple moving average is $197.91 and its 200-day simple moving average is $167.56. The firm has a market cap of $11.13 billion, a price-to-earnings ratio of 51.06, a price-to-earnings-growth ratio of 4.93 and a beta of 0.92.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Paylocity

Hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its holdings in shares of Paylocity by 16,397.9% during the 3rd quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker's stock worth $1,279,000 after purchasing an additional 7,707 shares in the last quarter. Edgestream Partners L.P. grew its stake in Paylocity by 222.3% during the third quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker's stock worth $1,788,000 after buying an additional 7,475 shares in the last quarter. Barclays PLC increased its holdings in Paylocity by 14.3% in the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker's stock valued at $7,407,000 after buying an additional 5,609 shares during the period. Qsemble Capital Management LP acquired a new position in shares of Paylocity in the 2nd quarter valued at approximately $842,000. Finally, Quest Partners LLC boosted its position in shares of Paylocity by 82,275.0% during the 2nd quarter. Quest Partners LLC now owns 6,590 shares of the software maker's stock worth $869,000 after acquiring an additional 6,582 shares in the last quarter. Institutional investors own 94.76% of the company's stock.

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.