Jeffrey T. Diehl Sells 946 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Jeffrey T. Diehl sold 946 shares of Paylocity stock in a transaction on Friday, November 15th. The shares were sold at an average price of $204.74, for a total transaction of $193,684.04. Following the sale, the director now directly owns 1,767 shares of the company’s stock, valued at $361,775.58. This trade represents a 34.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Paylocity Trading Down 0.5 %

NASDAQ PCTY traded down $0.97 during trading hours on Tuesday, hitting $194.60. The company’s stock had a trading volume of 277,147 shares, compared to its average volume of 501,045. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $215.68. The firm has a market capitalization of $10.85 billion, a P/E ratio of 50.04, a PEG ratio of 4.96 and a beta of 0.93. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. The stock has a fifty day moving average of $175.69 and a 200 day moving average of $158.89.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PCTY. Piper Sandler lifted their price objective on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. KeyCorp lifted their price target on Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Jefferies Financial Group increased their price objective on Paylocity from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC upped their price target on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Mizuho increased their price target on shares of Paylocity from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Paylocity currently has a consensus rating of “Moderate Buy” and a consensus price target of $196.64.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. CIBC Asset Management Inc raised its position in Paylocity by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker’s stock valued at $273,000 after buying an additional 58 shares during the last quarter. Chicago Partners Investment Group LLC raised its holdings in Paylocity by 3.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker’s stock valued at $395,000 after acquiring an additional 82 shares during the period. Covestor Ltd boosted its stake in Paylocity by 6.4% in the 3rd quarter. Covestor Ltd now owns 1,373 shares of the software maker’s stock valued at $227,000 after purchasing an additional 83 shares during the period. King Luther Capital Management Corp grew its holdings in Paylocity by 1.0% in the 2nd quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker’s stock valued at $1,316,000 after buying an additional 103 shares in the last quarter. Finally, SkyOak Wealth LLC increased its position in Paylocity by 7.1% during the 2nd quarter. SkyOak Wealth LLC now owns 1,837 shares of the software maker’s stock worth $242,000 after buying an additional 122 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.