Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $2,399,841.54 in Stock

by · The Markets Daily

Paylocity Holding Co. (NASDAQ:PCTY – Get Free Report) Director Steven I. Sarowitz sold 12,226 shares of Paylocity stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $196.29, for a total transaction of $2,399,841.54. Following the completion of the transaction, the director now directly owns 9,300,847 shares in the company, valued at approximately $1,825,663,257.63. The trade was a 0.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Paylocity Trading Up 1.7 %

Shares of Paylocity stock opened at $205.28 on Friday. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68. 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 stock has a market cap of $11.44 billion, a PE ratio of 52.50, a price-to-earnings-growth ratio of 4.89 and a beta of 0.93. The firm has a fifty day moving average price of $178.10 and a 200 day moving average price of $159.63.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Piper Sandler upped their price target on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Needham & Company LLC upped their target price on Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Barclays raised their price target on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. StockNews.com upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a report on Thursday. Finally, BMO Capital Markets boosted their target price on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Three research 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, Paylocity currently has an average rating of “Moderate Buy” and a consensus target price of $196.64.

Get Our Latest Stock Report on PCTY

Hedge Funds Weigh In On Paylocity

Institutional investors and hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its holdings in Paylocity by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock valued at $1,518,176,000 after acquiring an additional 278,607 shares during the period. Capital Research Global Investors acquired a new position in shares of Paylocity in the 1st quarter valued at $46,902,000. Millennium Management LLC boosted its holdings in Paylocity by 435.2% during the second quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock worth $43,676,000 after buying an additional 269,354 shares in the last quarter. Point72 Asset Management L.P. grew its position in Paylocity by 283.8% during the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock valued at $51,101,000 after buying an additional 229,057 shares during the period. Finally, Liontrust Investment Partners LLP increased its holdings in Paylocity by 27.1% in the second quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock valued at $106,840,000 after buying an additional 172,807 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Company Profile

(Get Free Report)

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.

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