Steven I. Sarowitz Sells 23,243 Shares of Paylocity Holding Co. (NASDAQ:PCTY) Stock

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

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $194.69 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market capitalization of $10.88 billion, a price-to-earnings ratio of 49.92, a P/E/G ratio of 4.49 and a beta of 0.94. The company has a 50 day simple moving average of $201.60 and a two-hundred day simple moving average of $192.03. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, February 6th. The software maker reported $0.82 EPS 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 fiscal year.

Institutional Investors Weigh In On Paylocity

Institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp purchased a new stake in Paylocity during the 4th quarter valued at $713,000. Amiral Gestion purchased a new position in Paylocity in the 4th quarter worth about $7,352,000. Castleark Management LLC lifted its stake in Paylocity by 1,755.2% during the 4th quarter. Castleark Management LLC now owns 30,240 shares of the software maker’s stock valued at $6,032,000 after acquiring an additional 28,610 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Paylocity by 24.6% in 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 shares of 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 Analyst Weigh In

A number of brokerages have recently weighed in on PCTY. KeyCorp boosted their target price on Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. UBS Group boosted their target price on shares of Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Barclays increased their price objective on Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Stifel Nicolaus boosted their price objective on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, JMP Securities upped their price target on shares of Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a research note 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. According to data from MarketBeat, the company currently 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.