B. Metzler seel. Sohn & Co. Holding AG Takes $2.96 Million Position in Paylocity Holding Co. (NASDAQ:PCTY)

B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,955 shares of the software maker's stock, valued at approximately $2,962,000.

Other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in Paylocity by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker's stock worth $1,518,176,000 after purchasing an additional 278,607 shares during the last quarter. Capital Research Global Investors purchased a new position in shares of Paylocity in the 1st quarter valued at approximately $46,902,000. Millennium Management LLC increased its holdings in shares of Paylocity by 435.2% in the second quarter. Millennium Management LLC now owns 331,253 shares of the software maker's stock valued at $43,676,000 after purchasing an additional 269,354 shares during the period. Liontrust Investment Partners LLP raised its stake in shares of Paylocity by 27.1% during the second quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker's stock worth $106,840,000 after purchasing an additional 172,807 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its position in Paylocity by 1,662.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 181,920 shares of the software maker's stock valued at $23,986,000 after buying an additional 171,597 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Insider Buying and Selling

In related news, Director Jeffrey T. Diehl sold 946 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $204.74, for a total transaction of $193,684.04. Following the completion of the sale, the director now directly owns 1,767 shares in the company, valued at approximately $361,775.58. This trade represents a 34.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Rachit Lohani sold 658 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total transaction of $107,142.14. Following the completion of the transaction, the senior vice president now owns 39,764 shares in the company, valued at approximately $6,474,772.12. This represents a 1.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,527 shares of company stock valued at $8,731,875. Company insiders own 21.91% of the company's stock.

Paylocity Trading Up 0.3 %

Paylocity stock opened at $195.28 on Thursday. The firm has a market cap of $10.89 billion, a price-to-earnings ratio of 49.94, a price-to-earnings-growth ratio of 4.89 and a beta of 0.93. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68. The firm's 50 day moving average price is $176.43 and its two-hundred day moving average price is $159.08. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32.

Analyst Ratings Changes

Several analysts have recently commented on the stock. BMO Capital Markets raised their target price on shares of Paylocity from $175.00 to $203.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Barclays lifted their price objective on Paylocity from $174.00 to $180.00 and gave the company an "equal weight" rating in a report on Thursday, October 31st. KeyCorp increased their target price on Paylocity from $187.00 to $210.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Needham & Company LLC lifted their price target on Paylocity from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Finally, JMP Securities reiterated a "market outperform" rating and issued a $250.00 price objective on shares of Paylocity in a research report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Paylocity currently has an average rating of "Moderate Buy" and an average target price of $196.64.

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.