Steven I. Sarowitz Sells 2,600 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 2,600 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $200.14, for a total transaction of $520,364.00. Following the completion of the sale, the director now owns 8,332,347 shares in the company, valued at approximately $1,667,635,928.58. This trade represents a 0.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Paylocity Stock Performance

PCTY traded down $4.40 during midday trading on Thursday, hitting $195.07. 241,735 shares of the company traded hands, compared to its average volume of 483,470. The company’s 50-day moving average is $200.05 and its 200 day moving average is $169.43. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $10.87 billion, a PE ratio of 49.89, a price-to-earnings-growth ratio of 4.93 and a beta of 0.92. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCTY. International Assets Investment Management LLC boosted its position in Paylocity by 16,397.9% in the third quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock worth $1,279,000 after purchasing an additional 7,707 shares during the last quarter. Edgestream Partners L.P. boosted its holdings in shares of Paylocity by 222.3% in the third quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock worth $1,788,000 after buying an additional 7,475 shares during the last quarter. Barclays PLC boosted its holdings in shares of Paylocity by 14.3% in the third quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock worth $7,407,000 after buying an additional 5,609 shares during the last quarter. Qsemble Capital Management LP bought a new stake in Paylocity during the second quarter valued at approximately $842,000. Finally, Quest Partners LLC increased its holdings in Paylocity by 82,275.0% during the second quarter. Quest Partners LLC now owns 6,590 shares of the software maker’s stock valued at $869,000 after buying an additional 6,582 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PCTY shares. Barclays boosted their price target on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Jefferies Financial Group boosted their target price on Paylocity from $215.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Mizuho increased their target price on Paylocity from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. StockNews.com raised Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday, December 7th. Finally, BMO Capital Markets increased their price objective on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Paylocity currently has a consensus rating of “Moderate Buy” and an average target price of $205.71.

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.