Paylocity Holding Co. (NASDAQ:PCTY - Get Free Report) Director Steven I. Sarowitz sold 11,473 shares of the company's stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $203.37, for a total value of $2,333,264.01. Following the completion of the sale, the director now owns 8,344,545 shares in the company, valued at $1,697,030,116.65. The trade was a 0.14 % 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 Stock Up 0.9 %
PCTY opened at $196.20 on Friday. The company's 50-day moving average price is $194.82 and its two-hundred day moving average price is $165.46. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $215.68. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 50.18, a PEG ratio of 4.93 and a beta of 0.92.
Institutional Trading of Paylocity
Large investors have recently bought and sold shares of the company. Millennium Management LLC grew its stake in Paylocity by 435.2% in the 2nd quarter. Millennium Management LLC now owns 331,253 shares of the software maker's stock valued at $43,676,000 after buying an additional 269,354 shares in the last quarter. Point72 Asset Management L.P. grew its position in shares of Paylocity by 283.8% in the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker's stock valued at $51,101,000 after purchasing an additional 229,057 shares in the last quarter. Liontrust Investment Partners LLP raised its stake in shares of Paylocity by 27.1% during the 2nd 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 period. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Paylocity by 1,662.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 181,920 shares of the software maker's stock valued at $23,986,000 after purchasing an additional 171,597 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Paylocity by 58.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 335,946 shares of the software maker's stock worth $44,296,000 after purchasing an additional 123,744 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.
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Several brokerages have recently commented on PCTY. StockNews.com raised shares of Paylocity from a "hold" rating to a "buy" rating in a research report on Saturday, December 7th. TD Cowen boosted their price objective on Paylocity from $208.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, December 9th. KeyCorp raised their target price on Paylocity from $187.00 to $210.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Truist Financial raised their price objective on Paylocity from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Finally, BMO Capital Markets upped their target price on shares of Paylocity from $175.00 to $203.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Paylocity presently has an average rating of "Moderate Buy" and a consensus price target of $205.71.
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About Paylocity
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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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