Steven I. Sarowitz Sells 11,473 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 11,473 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $203.37, for a total transaction of $2,333,264.01. Following the completion of the sale, the director now owns 8,344,545 shares of the company’s stock, valued at approximately $1,697,030,116.65. The trade was a 0.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Paylocity Stock Performance

Shares of PCTY opened at $196.83 on Friday. The stock has a 50-day simple moving average of $195.46 and a 200-day simple moving average of $165.87. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68. The stock has a market capitalization of $10.97 billion, a PE ratio of 50.34, a PEG ratio of 4.93 and a beta of 0.92.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PCTY. 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 purchasing an additional 8,878 shares during the last quarter. Tidal Investments LLC raised its stake in 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 buying an additional 5,958 shares in the last quarter. Coldstream Capital Management Inc. purchased a new stake in Paylocity during the 3rd quarter worth about $239,000. Geode Capital Management LLC boosted its position in shares of Paylocity by 3.6% during the 3rd 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 in the last quarter. Finally, Vestcor Inc increased its holdings in shares of Paylocity by 943.8% in the 3rd quarter. Vestcor Inc now owns 10,000 shares of the software maker’s stock valued at $1,650,000 after acquiring an additional 9,042 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on PCTY shares. Barclays increased their price target on Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. TD Cowen upped their price objective on shares of Paylocity from $208.00 to $235.00 and gave the company a “buy” rating in a report on Monday, December 9th. Truist Financial raised their price objective on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Needham & Company LLC increased their price target on shares of Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Mizuho lifted their price target on shares of Paylocity from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.