FMR LLC grew its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 19.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 272,764 shares of the software maker's stock after acquiring an additional 44,118 shares during the quarter. FMR LLC owned about 0.49% of Paylocity worth $44,998,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the business. Associated Banc Corp bought a new stake in shares of Paylocity during the 3rd quarter valued at about $216,000. Fisher Asset Management LLC raised its holdings in shares of Paylocity by 3.2% during the 3rd quarter. Fisher Asset Management LLC now owns 76,160 shares of the software maker's stock valued at $12,564,000 after buying an additional 2,354 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Paylocity by 28.6% during the 3rd quarter. Cerity Partners LLC now owns 17,046 shares of the software maker's stock valued at $2,812,000 after buying an additional 3,794 shares in the last quarter. Leelyn Smith LLC raised its holdings in shares of Paylocity by 11.8% during the 3rd quarter. Leelyn Smith LLC now owns 8,581 shares of the software maker's stock valued at $1,416,000 after buying an additional 908 shares in the last quarter. Finally, Icon Wealth Advisors LLC raised its holdings in shares of Paylocity by 303.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 10,569 shares of the software maker's stock valued at $1,698,000 after buying an additional 7,949 shares in the last quarter. Institutional investors own 94.76% of the company's stock.
Insiders Place Their Bets
In other news, Director Steven I. Sarowitz sold 10,237 shares of the company's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $210.10, for a total value of $2,150,793.70. Following the completion of the transaction, the director now owns 9,214,115 shares of the company's stock, valued at $1,935,885,561.50. This represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Andrew Cappotelli sold 247 shares of the company's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $47,742.63. Following the completion of the transaction, the senior vice president now directly owns 14,634 shares of the company's stock, valued at approximately $2,828,605.86. This trade represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,327 shares of company stock worth $20,340,311 over the last quarter. 21.91% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
PCTY has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price target on Paylocity from $200.00 to $215.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Barclays lifted 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. Needham & Company LLC lifted their price target on Paylocity from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. KeyCorp lifted their price target on Paylocity from $187.00 to $210.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Finally, StockNews.com upgraded Paylocity from a "hold" rating to a "buy" rating in a research report on Saturday. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Paylocity presently has a consensus rating of "Moderate Buy" and a consensus target price of $196.64.
Read Our Latest Research Report on Paylocity
Paylocity Stock Performance
PCTY traded up $1.96 during midday trading on Friday, reaching $205.80. The company had a trading volume of 252,326 shares, compared to its average volume of 379,378. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average of $188.32 and a two-hundred day moving average of $162.55. The company has a market cap of $11.47 billion, a P/E ratio of 52.63, a P/E/G ratio of 5.16 and a beta of 0.92. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68.
About Paylocity
(
Free Report)
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.
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