Mediolanum International Funds Ltd acquired a new position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 34,978 shares of the software maker's stock, valued at approximately $6,980,000. Mediolanum International Funds Ltd owned approximately 0.06% of Paylocity at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CIBC Asset Management Inc increased its stake in shares of Paylocity by 3.6% in the third quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker's stock worth $273,000 after acquiring an additional 58 shares during the period. UMB Bank n.a. lifted its stake in shares of Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock valued at $49,000 after purchasing an additional 72 shares during the period. Chicago Partners Investment Group LLC grew its position in Paylocity by 3.7% during 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 period. Covestor Ltd increased its holdings in Paylocity by 6.4% in the third quarter. Covestor Ltd now owns 1,373 shares of the software maker's stock valued at $227,000 after buying an additional 83 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Paylocity by 43.3% in the fourth quarter. GAMMA Investing LLC now owns 384 shares of the software maker's stock worth $77,000 after acquiring an additional 116 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.
Paylocity Stock Up 1.3 %
Shares of PCTY traded up $2.78 during midday trading on Tuesday, hitting $209.16. The company had a trading volume of 256,254 shares, compared to its average volume of 483,991. The company's 50-day simple moving average is $201.39 and its 200-day simple moving average is $179.40. 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 1 year low of $129.94 and a 1 year high of $215.68. The firm has a market capitalization of $11.66 billion, a P/E ratio of 53.43, a P/E/G ratio of 5.03 and a beta of 0.95.
Insider Transactions at Paylocity
In related 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 sale, the director now directly owns 9,272,906 shares in the company, valued at $1,812,204,019.58. This trade represents a 0.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Andrew Cappotelli sold 247 shares of Paylocity stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $47,742.63. Following the transaction, the senior vice president now directly owns 14,634 shares in the company, 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. In the last three months, insiders sold 127,880 shares of company stock valued at $25,932,309. Insiders own 21.91% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on PCTY. Needham & Company LLC reaffirmed a "buy" rating and issued a $220.00 price target on shares of Paylocity in a report on Wednesday, January 15th. Piper Sandler lifted their target price on shares of Paylocity from $172.00 to $212.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Truist Financial raised their price target on shares of Paylocity from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Friday, November 1st. StockNews.com upgraded Paylocity from a "hold" rating to a "buy" rating in a research note on Saturday, December 7th. Finally, TD Cowen dropped their price target on Paylocity from $235.00 to $228.00 and set a "buy" rating for the company in a research report on Monday, January 6th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Paylocity currently has an average rating of "Moderate Buy" and an average target price of $213.86.
Check Out Our Latest Research Report on PCTY
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.
See Also
Before you consider Paylocity, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Paylocity wasn't on the list.
While Paylocity currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
