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

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 1,400 shares of Paylocity stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $200.59, for a total value of $280,826.00. Following the completion of the transaction, the director now directly owns 8,338,430 shares of the company’s stock, valued at approximately $1,672,605,673.70. This trade represents a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Paylocity Stock Down 0.5 %

Shares of NASDAQ:PCTY traded down $0.94 during mid-day trading on Friday, hitting $199.66. 159,990 shares of the company traded hands, compared to its average volume of 485,001. The stock has a market cap of $11.13 billion, a P/E ratio of 51.06, a P/E/G ratio of 4.93 and a beta of 0.92. The stock has a 50-day moving average price of $197.91 and a two-hundred day moving average price of $167.56. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $215.68. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29.

Hedge Funds Weigh In On Paylocity

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of Paylocity by 81.9% during the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock valued at $141,303,000 after purchasing an additional 385,625 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Paylocity by 3.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 287,264 shares of the software maker’s stock worth $47,389,000 after buying an additional 8,878 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Paylocity by 207.0% in the third quarter. Tidal Investments LLC now owns 8,836 shares of the software maker’s stock valued at $1,458,000 after acquiring an additional 5,958 shares in the last quarter. Coldstream Capital Management Inc. purchased a new stake in shares of Paylocity during the third quarter valued at approximately $239,000. Finally, Geode Capital Management LLC lifted its holdings in Paylocity by 3.6% during the third 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 period. 94.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PCTY shares. Needham & Company LLC lifted their target price on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays lifted their price objective on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Mizuho increased their target price on shares of Paylocity from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Truist Financial lifted their price target on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group increased their price objective on shares of Paylocity from $215.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Paylocity has an average rating of “Moderate Buy” and an average target price of $205.71.

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.