Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Paylocity Holding Corp shares valued at $3,830,905 were sold by Diehl Jeffrey T on Mar 14 ’24. At $167.01 per share, Diehl Jeffrey T sold 22,938 shares. The insider’s holdings dropped to 14,019 shares worth approximately $2.3 million following the completion of this transaction.
Also, Diehl Jeffrey T sold 600 shares, netting a total of over 101,292 in proceeds. Following the sale of shares at $168.82 each, the insider now holds 14,001 shares.
Before that, Diehl Jeffrey T had sold 24,702 shares from its account. In a trade valued at $4,194,579, the Director traded Paylocity Holding Corp shares for $169.81 each. Upon closing the transaction, the insider’s holdings decreased to 24,702 shares, worth approximately $2.42 million.
As published in their initiating research note from BTIG Research on February 06, 2024, Paylocity Holding Corp [PCTY] has been a Buy and the price target has been revised to $200. Analysts at Jefferies downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early January. As of November 07, 2023, UBS has initiated its “Neutral” rating for PCTY. Earlier on October 26, 2023, BofA Securities initiated its rating. Their recommendation was “a Neutral” for PCTY stock.
Analyzing PCTY Stock Performance
During the last five days, there has been a surge of approximately 9.49%. Over the course of the year, Paylocity Holding Corp shares have dropped approximately -0.64%. Shares of the company reached a 52-week high of $184.77 on 05/03/24 and a 52-week low of $140.90 on 05/02/24. A 50-day SMA is recorded $165.15, while a 200-day SMA reached $173.58. Nevertheless, trading volume fell to 0.58 million shares from 0.62 million shares the previous day.
Support And Resistance Levels for Paylocity Holding Corp (PCTY)
According to the 24-hour chart, there is a support level at 161.64, which, if violated, would cause prices to drop to 159.50. In the upper region, resistance lies at 168.00. The next price resistance is at 172.22. RSI (Relative Strength Index) is 51.45 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 7.07, which suggests the price will increase in the coming days. Percent R is at 47.82%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
