Steven I. Sarowitz Sells 10,237 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 10,237 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $210.10, for a total value of $2,150,793.70. Following the transaction, the director now directly owns 9,214,115 shares of the company’s stock, valued at $1,935,885,561.50. This represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Paylocity Stock Performance

Shares of PCTY stock traded up $2.13 during midday trading on Monday, hitting $209.67. 145,440 shares of the company were exchanged, compared to its average volume of 496,271. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68. The firm has a market capitalization of $11.69 billion, a P/E ratio of 53.08, a PEG ratio of 5.11 and a beta of 0.93. The firm’s 50 day moving average price is $183.90 and its two-hundred day moving average price is $161.25. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PCTY. JMP Securities reissued a “market outperform” rating and issued a $250.00 price objective on shares of Paylocity in a research report on Monday, August 5th. StockNews.com cut shares of Paylocity from a “buy” rating to a “hold” rating in a research report on Friday. BMO Capital Markets raised their price objective on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Jefferies Financial Group lifted their target price on Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC increased their price target on Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Paylocity has an average rating of “Moderate Buy” and a consensus target price of $196.64.

Hedge Funds Weigh In On Paylocity

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of Paylocity by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock valued at $173,053,000 after purchasing an additional 36,590 shares during the last quarter. Liontrust Investment Partners LLP grew its position in shares of 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 purchasing an additional 172,807 shares during the last quarter. Van Berkom & Associates Inc. grew its position in Paylocity by 20.5% during the second quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker’s stock worth $76,447,000 after buying an additional 98,478 shares in the last quarter. Janus Henderson Group PLC grew its position in Paylocity by 3.5% during the third quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock worth $85,444,000 after buying an additional 17,560 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Paylocity by 4.7% during the second quarter. Bank of New York Mellon Corp now owns 472,686 shares of the software maker’s stock worth $62,324,000 after buying an additional 21,127 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.