Paylocity Holding Corporation (PCTY) may enjoy gains as insiders got busy in the recent days


Paylocity Holding Corporation’s filing revealed that its Director Sarowitz Steven I unloaded Company’s shares for reported $12.04 million on Feb 23. In the deal valued at $203.83 per share,59,053 shares were sold. As a result of this transaction, Sarowitz Steven I now holds 10,438,370 shares worth roughly $ 2.02 billion.

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Then, Glenn Ryan sold 1,250 shares, generating $268,688 in total proceeds. Upon selling the shares at $214.95, the CFO and Treasurer now owns 23,288 shares.

Before that, Sarowitz Steven I sold 75,000 shares. Paylocity Holding Corporation shares valued at $16,260,958 were divested by the Director at a price of $216.81 per share. As a result of the transaction, Sarowitz Steven I now holds 10,497,423 shares, worth roughly $2.03 billion.

DA Davidson downgraded its Paylocity Holding Corporation [PCTY] rating to a Neutral from a a Buy in a research note published on Monday. PT values the company’s stock at a premium of 22.58 to its Monday closing price. A number of analysts have revised their coverage, including Citigroup’s analysts, who began to cover the stock in early September with a ‘”a Neutral”‘ rating. Wolfe Research revised its rating on April 22, 2022. It rated PCTY as “an Outperform” which previously was an “a Peer perform”.

Price Performance Review of PCTY

On Monday, Paylocity Holding Corporation [NASDAQ:PCTY] saw its stock fall -1.76% to $193.56. On the same session, the stock had its day’s lowest price of $192.11, but rose to a high of $199.89. Over the last five days, the stock has lost -7.52%. Paylocity Holding Corporation shares have fallen nearly -0.36% since the year began. Nevertheless, the stocks have fallen -5.95% over the past one year. While a 52-week high of $276.88 was reached on 02/03/23, a 52-week low of $152.01 was recorded on 01/06/23. SMA at 50 days reached $202.51, while 200 days put it at $209.98. A total of 0.6 million shares were traded, compared to the trading of 0.5 million shares in the previous session.

Levels Of Support And Resistance For PCTY Stock

The 24-hour chart illustrates a support level at 190.48, which if violated will result in even more drops to 187.41. On the upside, there is a resistance level at 198.26. A further resistance level may holdings at 202.97. The Relative Strength Index (RSI) on the 14-day chart is 37.11, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -13.93, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 96.57%. Stochastics %K at 7.10% indicates the stock is a buying.

How much short interest is there in Paylocity Holding Corporation?

A steep rise in short interest was recorded in Paylocity Holding Corporation stocks on Jan 30, 2023, growing by 0.62 million shares to a total of 2.54 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 1.92 million shares. There was a rise of 24.41%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 7.65% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.54.

Paylocity Holding Corporation [PCTY] – Who Are The Largest Shareholders?

In filings from T. Rowe Price Associates, Inc., it is revealed that the company now owns 5,780,587 shares, or roughly 10.38% of the outstanding PCTY shares. In other words, the investor’s shares have fallen by -1,970,169 from its previous 13-F filing of 7750756.0. Additionally, The Vanguard Group, Inc. increased 2.42% of its stake after which the total value it holdings stand at $839,224,988, while BlackRock Fund Advisors added 6.55% of its stake to hold $747.02 million in the firm. Over the last quarter, T. Rowe Price Investment Manageme purchased 156,945 shares of Paylocity Holding Corporation, while Invesco Advisers, Inc. bought 30,853 shares. At present, Wasatch Advisors, Inc. is holding 1,325,422 shares valued at $276.07 million. SSgA Funds Management, Inc. owned 1,245,319 shares of the company at the time of its most recent 13F filing, worth $259.39 million.

According to FactSet, Paylocity Holding Corporation’s share price will average $278.06 in the next year, based on opinions of analysts polled by the firm. This is up nearly 35.77 percent from its previous closing price of $197.02. Analysts expect Paylocity Holding Corporation stock to reach the higher price of $325.00, while the lowest price estimate is $230.00. However, 18 analysts have rated PCTY stock as an Overweight in their predictions for 2023. The most recent change occurred on March 23, 2022 when Credit Suisse began covering the stock and recommended ‘”a Neutral”‘ rating along with a $225 price target.


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