LMR Partners LLP Takes $5.61 Million Position in Paylocity Holding Co. (NASDAQ:PCTY)

LMR Partners LLP purchased a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 34,007 shares of the software maker's stock, valued at approximately $5,610,000. LMR Partners LLP owned approximately 0.06% of Paylocity at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. CIBC Asset Management Inc raised its stake in Paylocity by 3.6% in 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 raised its position in shares of Paylocity by 3.7% in the third quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker's stock valued at $395,000 after buying an additional 82 shares during the last quarter. Covestor Ltd lifted its stake in shares of Paylocity by 6.4% in 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 in the last quarter. King Luther Capital Management Corp grew its stake in Paylocity by 1.0% during the 2nd quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker's stock valued at $1,316,000 after acquiring an additional 103 shares in the last quarter. Finally, SkyOak Wealth LLC raised its holdings in Paylocity by 7.1% in the 2nd quarter. SkyOak Wealth LLC now owns 1,837 shares of the software maker's stock valued at $242,000 after acquiring an additional 122 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Jeffrey T. Diehl sold 946 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $204.74, for a total transaction of $193,684.04. Following the transaction, the director now owns 1,767 shares in the company, valued at $361,775.58. This trade represents a 34.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ryan Glenn sold 500 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $203.28, for a total value of $101,640.00. Following the completion of the sale, the chief financial officer now owns 52,134 shares of the company's stock, valued at approximately $10,597,799.52. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,842 shares of company stock worth $6,243,313 over the last 90 days. 21.91% of the stock is owned by insiders.

Paylocity Stock Down 0.4 %

NASDAQ:PCTY traded down $0.79 during mid-day trading on Tuesday, hitting $194.78. The stock had a trading volume of 382,117 shares, compared to its average volume of 501,513. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $215.68. The company has a market capitalization of $10.86 billion, a PE ratio of 50.04, a PEG ratio of 4.96 and a beta of 0.93. The stock has a 50-day simple moving average of $175.69 and a two-hundred day simple moving average of $158.89.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PCTY shares. KeyCorp lifted their price objective on Paylocity from $187.00 to $210.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Jefferies Financial Group increased their price target on shares of Paylocity from $200.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. JMP Securities reiterated a "market outperform" rating and issued a $250.00 price objective on shares of Paylocity in a research report on Monday, August 5th. BTIG Research lowered their price target on Paylocity from $200.00 to $185.00 and set a "buy" rating for the company in a report on Friday, August 2nd. Finally, Mizuho increased their target price on shares of Paylocity from $175.00 to $180.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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.