Y Intercept Hong Kong Ltd Invests $1.12 Million in Paylocity Holding Co. (NASDAQ:PCTY)

Y Intercept Hong Kong Ltd purchased a new stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,769 shares of the software maker's stock, valued at approximately $1,117,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. UMB Bank n.a. boosted its holdings in shares of Paylocity by 1,650.0% in the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker's stock worth $29,000 after acquiring an additional 165 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Paylocity in the 3rd quarter valued at $39,000. Rothschild Investment LLC acquired a new position in Paylocity in the second quarter worth $40,000. Signaturefd LLC grew its holdings in shares of Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker's stock worth $50,000 after purchasing an additional 167 shares during the last quarter. Finally, Quarry LP increased its stake in shares of Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker's stock valued at $51,000 after buying an additional 185 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Insider Activity at Paylocity

In related news, Director Steven I. Sarowitz sold 11,778 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $203.44, for a total transaction of $2,396,116.32. Following the sale, the director now owns 8,414,936 shares of the company's stock, valued at approximately $1,711,934,579.84. This trade represents a 0.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Nicholas Rost sold 212 shares of the business's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $40,977.48. Following the completion of the transaction, the chief accounting officer now directly owns 7,364 shares of the company's stock, valued at approximately $1,423,387.56. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,400 shares of company stock worth $23,208,807. 21.91% of the stock is currently owned by company insiders.

Paylocity Trading Up 0.8 %

PCTY traded up $1.68 during midday trading on Thursday, reaching $204.59. 335,556 shares of the company were exchanged, compared to its average volume of 492,184. The stock has a market capitalization of $11.41 billion, a P/E ratio of 52.32, a PEG ratio of 5.07 and a beta of 0.92. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $215.68. The stock's 50-day simple moving average is $190.62 and its 200 day simple moving average is $163.40. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. TD Cowen upped their price target on shares of Paylocity from $208.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday. Needham & Company LLC upped their target price on shares of Paylocity from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Truist Financial raised their price target on shares of Paylocity from $195.00 to $210.00 and gave the company a "buy" rating in a report on Friday, November 1st. Barclays upped their price objective on Paylocity from $174.00 to $180.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. Finally, StockNews.com raised Paylocity from a "hold" rating to a "buy" rating in a research note on Saturday, December 7th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Paylocity currently has a consensus rating of "Moderate Buy" and a consensus target price of $204.29.

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.