Steven I. Sarowitz Sells 23,243 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 23,243 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $191.00, for a total value of $4,439,413.00. Following the sale, the director now owns 470,452 shares of the company’s stock, valued at approximately $89,856,332. The trade was a 4.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Paylocity Trading Up 2.2 %

Shares of Paylocity stock opened at $196.16 on Tuesday. The stock has a market capitalization of $10.96 billion, a P/E ratio of 50.30, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. The company has a 50-day simple moving average of $201.56 and a 200 day simple moving average of $191.74.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. Research analysts expect that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Institutional Trading of Paylocity

Several large investors have recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Paylocity by 0.5% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker’s stock worth $1,916,000 after buying an additional 49 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Paylocity by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 19,118 shares of the software maker’s stock worth $3,813,000 after acquiring an additional 51 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Paylocity by 29.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock worth $55,000 after purchasing an additional 63 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after purchasing an additional 72 shares during the last quarter. Finally, HighPoint Advisor Group LLC increased its holdings in shares of Paylocity by 5.1% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,559 shares of the software maker’s stock valued at $326,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

PCTY has been the topic of several research analyst reports. Citigroup upgraded shares of Paylocity from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $214.00 to $231.00 in a research note on Thursday, January 16th. UBS Group boosted their price objective on shares of Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Piper Sandler reiterated an “overweight” rating and issued a $254.00 target price (up previously from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. KeyCorp upped their price target on Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, Jefferies Financial Group raised their price objective on Paylocity from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $233.25.

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.