CWA Asset Management Group LLC Acquires Shares of 6,200 Paylocity Holding Co. (NASDAQ:PCTY)

CWA Asset Management Group LLC acquired a new stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,200 shares of the software maker's stock, valued at approximately $1,237,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. CIBC Asset Management Inc increased its position in shares of Paylocity by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker's stock valued at $273,000 after purchasing an additional 58 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in Paylocity by 3.7% during the third quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker's stock worth $395,000 after buying an additional 82 shares during the last quarter. Covestor Ltd increased its holdings in Paylocity by 6.4% during the third quarter. Covestor Ltd now owns 1,373 shares of the software maker's stock worth $227,000 after buying an additional 83 shares during the last quarter. King Luther Capital Management Corp raised its position in Paylocity by 1.0% in the second quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker's stock worth $1,316,000 after acquiring an additional 103 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Paylocity by 43.3% in the fourth quarter. GAMMA Investing LLC now owns 384 shares of the software maker's stock valued at $77,000 after acquiring an additional 116 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PCTY. KeyCorp lifted their price target on shares of Paylocity from $187.00 to $210.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Piper Sandler boosted their target price on Paylocity from $172.00 to $212.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Jefferies Financial Group upped their price target on Paylocity from $215.00 to $240.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Mizuho lifted their price objective on Paylocity from $180.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, December 13th. Finally, StockNews.com raised shares of Paylocity from a "hold" rating to a "buy" rating in a report on Saturday, December 7th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Paylocity presently has an average rating of "Moderate Buy" and an average price target of $205.71.

Paylocity Price Performance

Shares of Paylocity stock traded down $2.31 during trading on Wednesday, hitting $194.46. The stock had a trading volume of 595,610 shares, compared to its average volume of 379,122. The firm has a market cap of $10.84 billion, a price-to-earnings ratio of 49.73, a P/E/G ratio of 4.93 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 $201.95 and its 200 day moving average is $171.44. 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 other news, Director Jeffrey T. Diehl sold 29,606 shares of the company's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $196.55, for a total value of $5,819,059.30. Following the completion of the sale, the director now owns 11,755 shares of the company's stock, valued at approximately $2,310,445.25. This represents a 71.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Nicholas Rost sold 212 shares of Paylocity stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total transaction of $40,977.48. Following the completion of the transaction, the chief accounting officer now owns 7,364 shares in the company, valued at approximately $1,423,387.56. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 157,486 shares of company stock valued at $31,751,368. 21.91% of the stock is owned by corporate insiders.

About Paylocity

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.