Paylocity Holding Co. (NASDAQ:PCTY) Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp raised its position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 53.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,632 shares of the software maker's stock after buying an additional 1,617 shares during the period. Fifth Third Bancorp's holdings in Paylocity were worth $924,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its holdings in Paylocity by 16,397.9% in the 3rd 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 in the last quarter. Edgestream Partners L.P. raised its holdings in Paylocity by 222.3% in the 3rd quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker's stock valued at $1,788,000 after acquiring an additional 7,475 shares during the last quarter. Barclays PLC raised its holdings in Paylocity by 14.3% in the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker's stock valued at $7,407,000 after acquiring an additional 5,609 shares during the last quarter. Millennium Management LLC raised its holdings in Paylocity by 435.2% in the 2nd quarter. Millennium Management LLC now owns 331,253 shares of the software maker's stock valued at $43,676,000 after acquiring an additional 269,354 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Paylocity by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker's stock valued at $46,592,000 after acquiring an additional 4,697 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Paylocity Stock Down 0.2 %

Shares of Paylocity stock traded down $0.42 during trading hours on Thursday, reaching $203.04. 82,207 shares of the company were exchanged, compared to its average volume of 468,011. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68. The stock's fifty day moving average is $201.39 and its 200 day moving average is $178.43. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market cap of $11.32 billion, a PE ratio of 51.92, a PEG ratio of 4.84 and a beta of 0.93.

Insider Transactions at Paylocity

In other news, Director Steven I. Sarowitz sold 15,444 shares of Paylocity stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $195.43, for a total transaction of $3,018,220.92. Following the completion of the sale, the director now directly owns 9,272,906 shares of the company's stock, valued at approximately $1,812,204,019.58. The trade was a 0.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey T. Diehl sold 29,606 shares of the firm's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $196.55, for a total value of $5,819,059.30. Following the sale, the director now directly owns 11,755 shares in the company, valued at $2,310,445.25. This trade represents a 71.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,486 shares of company stock valued at $31,751,368. 21.91% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on PCTY shares. Barclays upped their target price on Paylocity from $174.00 to $180.00 and gave the company an "equal weight" rating in a report on Thursday, October 31st. TD Cowen decreased their target price on shares of Paylocity from $235.00 to $228.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Mizuho boosted their target price on shares of Paylocity from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, December 13th. Needham & Company LLC reiterated a "buy" rating and issued a $220.00 target price on shares of Paylocity in a report on Wednesday, January 15th. Finally, Citigroup upgraded shares of Paylocity from a "neutral" rating to a "buy" rating and boosted their target price for the company from $214.00 to $231.00 in a report on Thursday, January 16th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $210.64.

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.