Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 4,513 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Jeffrey T. Diehl sold 4,513 shares of Paylocity stock in a transaction on Monday, November 25th. The stock was sold at an average price of $209.91, for a total transaction of $947,323.83. Following the completion of the transaction, the director now owns 1,003 shares in the company, valued at approximately $210,539.73. The trade was a 81.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Paylocity Stock Down 1.1 %

NASDAQ:PCTY opened at $207.54 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. The firm’s 50-day moving average price is $183.90 and its 200-day moving average price is $161.32. The company has a market capitalization of $11.57 billion, a PE ratio of 53.08, a P/E/G ratio of 5.17 and a beta of 0.93. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $215.68.

Institutional Investors Weigh In On Paylocity

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. UMB Bank n.a. lifted its holdings in shares of Paylocity by 1,650.0% during the third 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 last quarter. Prospera Private Wealth LLC bought a new position in Paylocity during the 3rd quarter valued at approximately $39,000. Rothschild Investment LLC purchased a new position in Paylocity during the second quarter valued at $40,000. Signaturefd LLC boosted its holdings in Paylocity by 121.0% in the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after acquiring an additional 167 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after acquiring an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

PCTY has been the subject of a number of recent research reports. Truist Financial boosted their target price on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 1st. JMP Securities reissued a “market outperform” rating and set a $250.00 price objective on shares of Paylocity in a research note on Monday, August 5th. Piper Sandler lifted their target price on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. KeyCorp raised their price target on shares of Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, BMO Capital Markets upped their price objective on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $196.64.

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.