Paylocity Holding Co. (NASDAQ:PCTY - Get Free Report) Director Steven I. Sarowitz sold 11,473 shares of the firm's stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $203.37, for a total transaction of $2,333,264.01. Following the completion of the sale, the director now owns 8,344,545 shares of the company's stock, valued at $1,697,030,116.65. This trade represents a 0.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
PCTY stock traded up $1.80 during midday trading on Thursday, reaching $196.20. 344,683 shares of the stock were exchanged, compared to its average volume of 488,814. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68. The company has a fifty day moving average price of $194.15 and a 200 day moving average price of $165.25. 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 capitalization of $10.94 billion, a PE ratio of 50.18, a P/E/G ratio of 4.93 and a beta of 0.92.
PCTY has been the subject of several research analyst reports. Barclays lifted their target price on Paylocity from $174.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. Piper Sandler raised their price objective on shares of Paylocity from $172.00 to $212.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Jefferies Financial Group boosted their price target on Paylocity from $215.00 to $240.00 and gave the company a "buy" rating in a research note on Monday, December 9th. BMO Capital Markets increased their price objective on Paylocity from $175.00 to $203.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC boosted their target price on shares of Paylocity from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Paylocity currently has an average rating of "Moderate Buy" and a consensus target price of $205.71.
View Our Latest Stock Analysis on PCTY
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Wealth Advisors LLC bought a new stake in Paylocity in the second quarter valued at $185,000. Bank of New York Mellon Corp raised its stake in Paylocity by 4.7% during the 2nd 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 during the period. Liontrust Investment Partners LLP boosted 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 worth $106,840,000 after acquiring an additional 172,807 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Paylocity by 1.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,551 shares of the software maker's stock valued at $2,578,000 after acquiring an additional 235 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Paylocity by 217.2% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 26,477 shares of the software maker's stock worth $3,491,000 after purchasing an additional 18,131 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.
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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