Geode Capital Management LLC Grows Position in Paylocity Holding Co. (NASDAQ:PCTY)

Geode Capital Management LLC lifted its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,048,806 shares of the software maker's stock after purchasing an additional 36,590 shares during the period. Geode Capital Management LLC owned 1.88% of Paylocity worth $173,053,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. UMB Bank n.a. increased its holdings in Paylocity by 1,650.0% in the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker's stock valued at $29,000 after purchasing an additional 165 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Paylocity in the third quarter valued at $39,000. Rothschild Investment LLC purchased a new stake in shares of Paylocity in the 2nd quarter valued at $40,000. Signaturefd LLC lifted its stake in Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker's stock worth $50,000 after acquiring an additional 167 shares in the last quarter. Finally, Quarry LP boosted its holdings in Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker's stock valued at $51,000 after acquiring an additional 185 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Paylocity news, SVP Rachit Lohani sold 658 shares of the business's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total value of $107,142.14. Following the transaction, the senior vice president now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Nicholas Rost sold 212 shares of Paylocity stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total transaction of $40,977.48. Following the completion of the sale, the chief accounting officer now directly 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. In the last three months, insiders have sold 139,710 shares of company stock valued at $28,124,978. Insiders own 21.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. TD Cowen increased their price target on shares of Paylocity from $208.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Mizuho increased their target price on shares of Paylocity from $180.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday. Barclays raised their price target on shares of Paylocity from $174.00 to $180.00 and gave the company an "equal weight" rating in a research report on Thursday, October 31st. StockNews.com raised Paylocity from a "hold" rating to a "buy" rating in a research report on Saturday, December 7th. Finally, BMO Capital Markets lifted their target price on Paylocity from $175.00 to $203.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Paylocity has an average rating of "Moderate Buy" and an average target price of $205.71.

Paylocity Stock Performance

Shares of PCTY traded up $2.61 during mid-day trading on Monday, reaching $202.78. 318,322 shares of the company's stock were exchanged, compared to its average volume of 490,940. The business's fifty day simple moving average is $191.97 and its 200-day simple moving average is $164.21. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $215.68. The stock has a market capitalization of $11.30 billion, a PE ratio of 51.86, a price-to-earnings-growth ratio of 4.93 and a beta of 0.92. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32.

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.