Caisse DE Depot ET Placement DU Quebec Purchases 51,276 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Caisse DE Depot ET Placement DU Quebec boosted its position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 113.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 96,406 shares of the software maker's stock after purchasing an additional 51,276 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.17% of Paylocity worth $15,904,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the business. Fred Alger Management LLC grew its holdings in Paylocity by 2.8% in the third quarter. Fred Alger Management LLC now owns 62,450 shares of the software maker's stock valued at $10,302,000 after purchasing an additional 1,727 shares during the period. Eventide Asset Management LLC acquired a new position in shares of Paylocity in the 3rd quarter valued at about $1,154,000. Verition Fund Management LLC grew its holdings in shares of Paylocity by 46.6% during the 3rd quarter. Verition Fund Management LLC now owns 24,506 shares of the software maker's stock worth $4,043,000 after purchasing an additional 7,785 shares during the period. Blueshift Asset Management LLC lifted its position in Paylocity by 221.1% during the third quarter. Blueshift Asset Management LLC now owns 5,028 shares of the software maker's stock valued at $829,000 after buying an additional 3,462 shares in the last quarter. Finally, FMR LLC grew its stake in Paylocity by 19.3% during the third quarter. FMR LLC now owns 272,764 shares of the software maker's stock worth $44,998,000 after buying an additional 44,118 shares during the period. Institutional investors and hedge funds own 94.76% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PCTY shares. BMO Capital Markets upped their price target on Paylocity from $175.00 to $203.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Barclays increased their price target on Paylocity from $174.00 to $180.00 and gave the company an "equal weight" rating in a report on Thursday, October 31st. Mizuho upped their target price on Paylocity from $175.00 to $180.00 and gave the company a "neutral" rating in a research report on Monday, November 4th. Piper Sandler lifted their price target on shares of Paylocity from $172.00 to $212.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Finally, Truist Financial boosted their target price on shares of Paylocity from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $196.64.

Insider Activity at Paylocity

In related news, SVP Rachit Lohani sold 658 shares of the business's stock in a transaction that occurred on 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 sale, the senior vice president now owns 39,764 shares of the company's stock, valued at approximately $6,474,772.12. The trade was a 1.63 % decrease in their position. The sale was disclosed in a filing with the SEC, 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 transaction, the senior vice president now directly owns 14,634 shares in the company, valued at approximately $2,828,605.86. The trade was a 1.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,027 shares of company stock worth $17,155,429. 21.91% of the stock is owned by corporate insiders.

Paylocity Trading Up 0.9 %

PCTY traded up $1.92 during trading on Monday, reaching $209.46. The company had a trading volume of 243,497 shares, compared to its average volume of 496,793. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $215.68. The company has a market cap of $11.68 billion, a price-to-earnings ratio of 53.57, a PEG ratio of 5.11 and a beta of 0.93. The firm's 50-day simple moving average is $184.81 and its 200 day simple moving average is $161.51.

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.