Insider Selling: Paylocity Holding Co. (NASDAQ:PCTY) Director Sells 26,252 Shares of Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 26,252 shares of Paylocity stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.91, for a total value of $5,116,777.32. Following the sale, the director now owns 420,000 shares of the company’s stock, valued at approximately $81,862,200. This represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Paylocity Price Performance

Shares of Paylocity stock opened at $194.12 on Thursday. The firm has a fifty day moving average price of $201.57 and a two-hundred day moving average price of $192.05. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market cap of $10.85 billion, a PE ratio of 49.77, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94.

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on PCTY shares. Jefferies Financial Group lifted their target price on shares of Paylocity from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Mizuho raised shares of Paylocity from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $200.00 to $235.00 in a research note on Friday, January 31st. TD Cowen lowered their target price on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. KeyCorp boosted their price target on Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, Barclays boosted their target price on Paylocity from $214.00 to $231.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.25.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in Paylocity in the 4th quarter valued at $29,000. UMB Bank n.a. boosted its position in shares of Paylocity by 41.1% during the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after acquiring an additional 72 shares in the last quarter. Quarry LP increased its stake in Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after acquiring an additional 185 shares during the period. EverSource Wealth Advisors LLC raised its position in Paylocity by 489.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock worth $54,000 after purchasing an additional 225 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in 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 during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.