Blueshift Asset Management LLC Has $829,000 Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Blueshift Asset Management LLC raised its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 221.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,028 shares of the software maker's stock after acquiring an additional 3,462 shares during the quarter. Blueshift Asset Management LLC's holdings in Paylocity were worth $829,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC boosted its position in Paylocity by 16,397.9% during the third quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker's stock valued at $1,279,000 after purchasing an additional 7,707 shares during the last quarter. Cetera Advisors LLC purchased a new stake in shares of Paylocity during the 1st quarter worth about $729,000. Plato Investment Management Ltd lifted its holdings in shares of Paylocity by 4,853.3% during the 1st quarter. Plato Investment Management Ltd now owns 3,715 shares of the software maker's stock valued at $638,000 after buying an additional 3,640 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Paylocity by 128.7% in the 1st quarter. Cetera Investment Advisers now owns 11,783 shares of the software maker's stock valued at $2,025,000 after buying an additional 6,630 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new position in Paylocity in the second quarter worth approximately $842,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Paylocity news, SVP Rachit Lohani sold 658 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total value of $107,142.14. Following the completion of the transaction, the senior vice president now directly owns 39,764 shares in the company, valued at approximately $6,474,772.12. This trade represents a 1.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $47,742.63. Following the completion of the transaction, the senior vice president now owns 14,634 shares of the company's stock, valued at approximately $2,828,605.86. This trade represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,277 shares of company stock worth $14,057,311. Insiders own 21.91% of the company's stock.

Paylocity Price Performance

Shares of PCTY traded down $2.01 during trading hours on Thursday, hitting $209.87. 347,248 shares of the company were exchanged, compared to its average volume of 499,069. The company has a market cap of $11.70 billion, a price-to-earnings ratio of 53.68, a P/E/G ratio of 5.17 and a beta of 0.93. The firm's fifty day moving average is $183.00 and its 200 day moving average is $161.10. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $215.68. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29.

Analyst Ratings Changes

Several brokerages have recently commented on PCTY. StockNews.com upgraded shares of Paylocity from a "hold" rating to a "buy" rating in a research note on Thursday, November 21st. Mizuho increased their target price on shares of Paylocity from $175.00 to $180.00 and gave the stock a "neutral" rating in a research report on Monday, November 4th. JMP Securities restated a "market outperform" rating and set a $250.00 target price on shares of Paylocity in a report on Monday, August 5th. Piper Sandler upped their price target on Paylocity from $172.00 to $212.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group raised their price objective on Paylocity from $200.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus 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.