Paylocity Holding Co. Director Sells $2,782,836.81 in Stock

On December 11th, Steven I. Sarowitz, a director at Paylocity Holding Co. (NASDAQ:PCTY), sold a substantial number of shares in the company. He disposed of 13,689 shares at an average price of $203.29 per share, bringing the total transaction value to $2,782,836.81. Following this sale, Sarowitz's ownership in Paylocity has decreased by 0.16%. He now holds 8,385,954 shares, which are valued at approximately $1,704,780,588.66. This transaction has been officially reported in a filing submitted to the Securities and Exchange Commission (SEC), and details can be accessed through their website.

Recent Trading Activity

In the market, Paylocity shares saw a decline of $4.42, reaching a trading price of $200.17 on Friday. The trading volume was reported at 364,220 shares, while the average volume was 491,053 shares. Paylocity has a market capitalization of $11.16 billion and a price-to-earnings (PE) ratio of 52.32. The company also holds a beta of 0.92, indicating lower volatility compared to the overall market. Paylocity has recorded a one-year low of $129.94 and a one-year high of $215.68, with 50-day and 200-day moving averages sitting at $191.37 and $163.69, respectively.

Institutional Investors' Activity

A number of institutional investors have made adjustments to their stakes in Paylocity recently. Geode Capital Management LLC increased its holdings by 3.6% during the third quarter, now owning 1,048,806 shares. Meanwhile, Liontrust Investment Partners LLP saw their share count rise by 27.1% in the second quarter, owning 810,314 shares. Van Berkom & Associates Inc. grew their stake by 20.5%, resulting in an ownership of 579,801 shares. Additionally, Janus Henderson Group PLC and Bank of New York Mellon Corp increased their holdings by 3.5% and 4.7%, respectively. Currently, hedge funds and institutional investors own 94.76% of Paylocity's stock.

Analyst Ratings Update

Paylocity has recently been analyzed by several research firms with varying price targets. Mizuho raised their target price from $180.00 to $200.00 while maintaining a "neutral" rating. TD Cowen increased their target from $208.00 to $235.00, representing a "buy" rating. Jefferies Financial Group set a target of $240.00, also with a "buy" rating. Other firms, including KeyCorp and Truist Financial, increased their target prices to $210.00, suggesting an "overweight" rating. Currently, the consensus rating for Paylocity is "Moderate Buy" with an average price target of $205.71, according to MarketBeat.com.

Company Overview

Paylocity Holding Corporation specializes in providing cloud-based human capital management and payroll software solutions tailored for the U.S. workforce. Their product offerings include payroll solutions for global payroll, expense management, and tax services, as well as time management software for attendance and scheduling.

Paylocity, Stock, Director