Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz Sells 26,252 Shares

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

Paylocity Price Performance

Shares of NASDAQ:PCTY traded down $0.57 during trading on Wednesday, reaching $194.12. The company had a trading volume of 308,548 shares, compared to its average volume of 465,759. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $223.80. The company has a fifty day moving average of $201.60 and a two-hundred day moving average of $192.03. The stock has a market capitalization of $10.85 billion, a P/E ratio of 49.77, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28.

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

Analyst Ratings Changes

PCTY has been the subject of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $254.00 price objective (up from $212.00) on shares of Paylocity in a report on Thursday, February 6th. KeyCorp raised their price target on Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. JMP Securities boosted their price objective on Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. Barclays raised their target price on Paylocity from $214.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Finally, Jefferies Financial Group lifted their target price on Paylocity from $240.00 to $255.00 and gave the company a “buy” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $233.25.

Hedge Funds Weigh In On Paylocity

A number of large investors have recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Paylocity by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker’s stock worth $1,916,000 after purchasing an additional 49 shares during the last quarter. Bessemer Group Inc. boosted its position in Paylocity by 0.3% during the 4th quarter. Bessemer Group Inc. now owns 19,118 shares of the software maker’s stock valued at $3,813,000 after buying an additional 51 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in Paylocity by 29.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock worth $55,000 after acquiring an additional 63 shares during the last quarter. UMB Bank n.a. increased its position in shares of Paylocity by 41.1% in the fourth 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 during the period. Finally, HighPoint Advisor Group LLC raised its stake in shares of Paylocity by 5.1% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,559 shares of the software maker’s stock valued at $326,000 after acquiring an additional 75 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

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.