abrdn plc Acquires 2,288 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

abrdn plc boosted its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 51.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,730 shares of the software maker's stock after acquiring an additional 2,288 shares during the quarter. abrdn plc's holdings in Paylocity were worth $1,342,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PCTY. UMB Bank n.a. grew its holdings in Paylocity by 1,650.0% during 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 during the last quarter. Prospera Private Wealth LLC bought a new stake in Paylocity during the 3rd quarter worth approximately $39,000. Signaturefd LLC boosted its stake in shares of Paylocity by 121.0% in the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker's stock valued at $50,000 after purchasing an additional 167 shares during the last quarter. Quarry LP boosted its stake in shares of Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker's stock valued at $51,000 after purchasing an additional 185 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Paylocity by 43.3% in the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker's stock valued at $77,000 after purchasing an additional 116 shares during the last quarter. 94.76% of the stock is owned by institutional investors.

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Insider Activity

In other news, SVP Andrew Cappotelli sold 247 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $47,742.63. Following the completion of the transaction, the senior vice president now directly owns 14,634 shares in the company, valued at approximately $2,828,605.86. This trade represents a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven I. Sarowitz sold 2,600 shares of the firm's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $200.14, for a total transaction of $520,364.00. Following the completion of the transaction, the director now owns 8,332,347 shares of the company's stock, valued at $1,667,635,928.58. This trade represents a 0.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 126,434 shares of company stock worth $25,636,985. 21.91% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. JMP Securities upped their price objective on shares of Paylocity from $250.00 to $270.00 and gave the company a "market outperform" rating in a research note on Friday, February 7th. UBS Group upped their target price on shares of Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Piper Sandler reiterated an "overweight" rating and issued a $254.00 target price (up previously from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. StockNews.com lowered shares of Paylocity from a "buy" rating to a "hold" rating in a research report on Monday. Finally, Raymond James restated an "outperform" rating and set a $265.00 price target (up previously from $215.00) on shares of Paylocity in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Paylocity has a consensus rating of "Moderate Buy" and a consensus price target of $233.25.

Paylocity Stock Performance

NASDAQ:PCTY traded down $0.60 on Friday, reaching $216.96. 450,553 shares of the company's stock were exchanged, compared to its average volume of 519,395. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market cap of $12.13 billion, a price-to-earnings ratio of 55.63, a P/E/G ratio of 5.19 and a beta of 0.95. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80. The stock has a fifty day simple moving average of $201.72 and a 200-day simple moving average of $183.04.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing analysts' consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.93% and a net margin of 14.76%. As a group, sell-side analysts predict that Paylocity Holding Co. will post 4.46 earnings per share for the current year.

Paylocity 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.