Paylocity Holding Co. Director Sells Significant Stock Holdings

On December 11th, Director Steven I. Sarowitz of Paylocity Holding Co. (NASDAQ:PCTY) executed a sale of 13,689 shares of the company's stock. The shares were sold at an average price of $203.29, resulting in a total transaction value of $2,782,836.81. Following this sale, Sarowitz now holds 8,385,954 shares in Paylocity, which is valued at approximately $1,704,780,588.66. The sale marked a 0.16% reduction in his ownership stake. Details of this transaction have been disclosed in a filing made with the Securities and Exchange Commission (SEC), which can be accessed online.

Stock Performance of Paylocity

In recent trading, Paylocity's stock price decreased by $4.42, closing at $200.17. The trading volume for the day was 364,220 shares, compared to an average volume of 491,053 shares. Currently, Paylocity's market capitalization stands at $11.16 billion, with a price-to-earnings (PE) ratio of 52.32 and a price-to-earnings growth (PEG) ratio of 5.00. The stock has a beta of 0.92 and a debt-to-equity ratio of 0.29. Paylocity's financial ratios include a quick ratio and current ratio both at 1.32, indicating stable liquidity. Over the past year, the stock has seen a low of $129.94 and a high of $215.68, with a 50-day moving average at $191.37 and a 200-day moving average at $163.69.

Institutional Investment Trends

Several institutional investors have recently adjusted their positions in Paylocity. Geode Capital Management LLC increased its holdings by 3.6% in the third quarter, now owning 1,048,806 shares worth $173,053,000 after acquiring an additional 36,590 shares. Similarly, Liontrust Investment Partners LLP raised their holdings by 27.1% in the second quarter, acquiring 172,807 shares to reach a total of 810,314 shares valued at $106,840,000. Additional investment increases were seen from Van Berkom & Associates Inc. and Janus Henderson Group PLC during the same period. Currently, institutional investors own 94.76% of Paylocity's stock.

Analyst Rating Adjustments

Paylocity has received various updates from research analysts. Mizuho has raised the target price from $180.00 to $200.00, assigning a "neutral" rating. TD Cowen increased its target price from $208.00 to $235.00, labeling it as a "buy." Jefferies Financial Group has adjusted its rating to a "buy" with a new target of $240.00, and KeyCorp has also upgraded its price target to $210.00, maintaining an "overweight" rating. Truist Financial made a similar adjustment from $195.00 to $210.00, continuing to endorse the stock as a "buy." Overall, the consensus rating for Paylocity is categorized as "Moderate Buy" with an average target price set at $205.71 according to MarketBeat.com.

About Paylocity

Paylocity Holding Corporation specializes in providing cloud-based human capital management and payroll software solutions primarily for workforce administration in the United States. The company’s offerings cover various payroll services, including global payroll, expense management, tax services, on-demand payment, and garnishment managed services. Additionally, the firm provides time and labor management solutions that focus on time tracking, attendance, and scheduling.

Paylocity, Stocks, Transaction