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Paylocity Holding Co. (NASDAQ:PCTY) Short Interest Down 24.8% in December

Paylocity logo with Computer and Technology background

Paylocity Holding Co. (NASDAQ:PCTY - Get Free Report) was the recipient of a significant decline in short interest in December. As of December 15th, there was short interest totalling 925,300 shares, a decline of 24.8% from the November 30th total of 1,230,000 shares. Approximately 2.1% of the company's stock are sold short. Based on an average daily volume of 383,600 shares, the short-interest ratio is presently 2.4 days.

Insider Buying and Selling at Paylocity

In other news, CAO Nicholas Rost sold 212 shares of the company's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $40,977.48. Following the completion of the sale, the chief accounting officer now owns 7,364 shares in the company, valued at $1,423,387.56. This represents a 2.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Steven I. Sarowitz sold 12,226 shares of the firm's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $196.29, for a total transaction of $2,399,841.54. Following the transaction, the director now directly owns 9,300,847 shares in the company, valued at $1,825,663,257.63. The trade was a 0.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,544 shares of company stock valued at $31,338,147. Corporate insiders own 21.91% of the company's stock.

Hedge Funds Weigh In On Paylocity

A number of large investors have recently modified their holdings of PCTY. UMB Bank n.a. boosted its holdings in Paylocity by 1,650.0% in the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker's stock valued at $29,000 after purchasing an additional 165 shares during the period. Prospera Private Wealth LLC purchased a new position in Paylocity during the third quarter worth about $39,000. Rothschild Investment LLC purchased a new position in Paylocity during the second quarter worth about $40,000. Signaturefd LLC increased its stake in Paylocity by 121.0% in the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker's stock worth $50,000 after acquiring an additional 167 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker's stock valued at $51,000 after acquiring an additional 185 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

Paylocity Price Performance

NASDAQ PCTY traded down $0.94 during trading hours on Friday, hitting $199.66. The company had a trading volume of 159,990 shares, compared to its average volume of 485,001. The firm has a 50 day simple moving average of $198.46 and a 200 day simple moving average of $168.16. Paylocity has a 52 week low of $129.94 and a 52 week high of $215.68. The firm has a market capitalization of $11.13 billion, a price-to-earnings ratio of 51.06, a PEG ratio of 4.93 and a beta of 0.92. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32.

Wall Street Analysts Forecast Growth

Several research firms have commented on PCTY. TD Cowen lifted their target price on shares of Paylocity from $208.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Mizuho boosted their price objective on Paylocity from $180.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, December 13th. BMO Capital Markets upped their price objective on Paylocity from $175.00 to $203.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. KeyCorp lifted their target price on Paylocity from $187.00 to $210.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Finally, Barclays raised their price objective on shares of Paylocity from $174.00 to $180.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Paylocity currently has an average rating of "Moderate Buy" and an average price target of $205.71.

Get Our Latest Analysis on Paylocity

About Paylocity

(Get Free Report)

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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