Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 13,191 Paylocity Holding Co. (NASDAQ:PCTY)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,191 shares of the software maker's stock, valued at approximately $2,176,000.

Several other institutional investors have also bought and sold shares of the company. Liontrust Investment Partners LLP lifted its stake in Paylocity by 27.1% in the second quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker's stock valued at $106,840,000 after purchasing an additional 172,807 shares during the last quarter. Van Berkom & Associates Inc. lifted its stake in Paylocity by 20.5% in the second quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker's stock valued at $76,447,000 after purchasing an additional 98,478 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Paylocity by 4.7% in the second quarter. Bank of New York Mellon Corp now owns 472,686 shares of the software maker's stock valued at $62,324,000 after purchasing an additional 21,127 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Paylocity by 58.3% in the second quarter. Dimensional Fund Advisors LP now owns 335,946 shares of the software maker's stock valued at $44,296,000 after purchasing an additional 123,744 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in 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 last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. BMO Capital Markets upped their price objective on Paylocity from $175.00 to $203.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Needham & Company LLC increased their target price on Paylocity from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Jefferies Financial Group increased their target price on Paylocity from $200.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Mizuho increased their target price on Paylocity from $175.00 to $180.00 and gave the stock a "neutral" rating in a research report on Monday, November 4th. Finally, Barclays increased their target price on Paylocity from $174.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, Paylocity currently has a consensus rating of "Moderate Buy" and an average target price of $196.64.

Paylocity Price Performance

Shares of Paylocity stock traded up $1.77 during trading on Tuesday, hitting $211.88. The stock had a trading volume of 312,475 shares, compared to its average volume of 499,733. The firm has a market cap of $11.81 billion, a price-to-earnings ratio of 53.74, a P/E/G ratio of 5.05 and a beta of 0.93. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $215.68. The business's 50-day moving average is $180.08 and its 200 day moving average is $160.07. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29.

Insider Transactions at Paylocity

In related news, Director Steven I. Sarowitz sold 11,306 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $204.07, for a total value of $2,307,215.42. Following the transaction, the director now owns 9,243,074 shares of the company's stock, valued at $1,886,234,111.18. This represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Nicholas Rost sold 212 shares of the stock in a transaction on 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 in the company, valued at approximately $1,423,387.56. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,277 shares of company stock valued at $14,057,311. 21.91% of the stock is currently owned by company insiders.

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.