Entropy Technologies LP Trims Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Entropy Technologies LP reduced its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 74.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,231 shares of the software maker's stock after selling 3,600 shares during the quarter. Entropy Technologies LP's holdings in Paylocity were worth $203,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Chicago Partners Investment Group LLC raised its stake in shares of Paylocity by 3.7% during the 3rd 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 period. Covestor Ltd boosted its stake in Paylocity by 6.4% during the 3rd quarter. Covestor Ltd now owns 1,373 shares of the software maker's stock worth $227,000 after purchasing an additional 83 shares during the last quarter. King Luther Capital Management Corp raised its position in shares of Paylocity by 1.0% in the second quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker's stock valued at $1,316,000 after buying an additional 103 shares during the last quarter. SkyOak Wealth LLC grew its position in Paylocity by 7.1% in the second quarter. SkyOak Wealth LLC now owns 1,837 shares of the software maker's stock worth $242,000 after acquiring an additional 122 shares during the period. Finally, Toronto Dominion Bank increased its stake in Paylocity by 2.9% during the second quarter. Toronto Dominion Bank now owns 4,413 shares of the software maker's stock worth $582,000 after acquiring an additional 126 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Paylocity

In related news, SVP Rachit Lohani sold 658 shares of the business's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total transaction of $107,142.14. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ryan Glenn sold 500 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $203.28, for a total transaction of $101,640.00. Following the completion of the transaction, the chief financial officer now directly owns 52,134 shares of the company's stock, valued at approximately $10,597,799.52. This trade represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,896 shares of company stock valued at $6,049,629. Corporate insiders own 21.91% of the company's stock.

Paylocity Stock Performance

NASDAQ PCTY traded down $2.22 during trading on Monday, reaching $195.57. The company's stock had a trading volume of 353,448 shares, compared to its average volume of 502,049. 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 twelve month low of $129.94 and a twelve month high of $215.68. The business's fifty day moving average price is $174.91 and its 200-day moving average price is $158.57. The firm has a market cap of $10.90 billion, a price-to-earnings ratio of 50.59, a P/E/G ratio of 4.96 and a beta of 0.93.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Barclays raised their price objective on Paylocity from $174.00 to $180.00 and gave the stock an "equal weight" 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 note on Monday, November 4th. StockNews.com lowered shares of Paylocity from a "buy" rating to a "hold" rating in a research note on Saturday, November 9th. BMO Capital Markets increased their price target on Paylocity from $175.00 to $203.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Finally, Truist Financial increased their target price on Paylocity from $195.00 to $210.00 and gave the company a "buy" rating in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Paylocity presently has an average rating of "Moderate Buy" and a consensus 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.