Paylocity Holding Co. (NASDAQ:PCTY) Director Sells $4,439,413.00 in Stock

Paylocity Holding Co. (NASDAQ:PCTY) Director Steven I. Sarowitz sold 23,243 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $191.00, for a total transaction of $4,439,413.00. Following the completion of the transaction, the director now owns 470,452 shares in the company, valued at approximately $89,856,332. The trade was a 4.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Paylocity Stock Down 0.3 %

Paylocity stock opened at $194.12 on Thursday. The business has a fifty day moving average price of $201.57 and a 200-day moving average price of $192.05. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80. The stock has a market capitalization of $10.85 billion, a price-to-earnings ratio of 49.77, a PEG ratio of 4.49 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14.

Paylocity (NASDAQ:PCTY) last issued its quarterly 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%. Equities research analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp acquired a new position in Paylocity during the fourth quarter valued at $713,000. Amiral Gestion acquired a new position in shares of Paylocity in the 4th quarter valued at about $7,352,000. Castleark Management LLC boosted its stake in shares of Paylocity by 1,755.2% in the fourth quarter. Castleark Management LLC now owns 30,240 shares of the software maker’s stock worth $6,032,000 after buying an additional 28,610 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Paylocity by 24.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 128,794 shares of the software maker’s stock worth $25,691,000 after acquiring an additional 25,414 shares during the period. Finally, Sone Capital Management LLC purchased a new position in Paylocity during the fourth quarter valued at approximately $1,948,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PCTY shares. Mizuho upgraded shares of Paylocity from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $200.00 to $235.00 in a research note on Friday, January 31st. UBS Group raised their price objective on Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Raymond James reaffirmed an “outperform” rating and set a $265.00 target price (up from $215.00) on shares of Paylocity in a research report on Friday, February 7th. Barclays raised their price target on Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Finally, TD Cowen lowered their price objective on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $233.25.

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.