Nisa Investment Advisors LLC Has $1.17 Million Position in Paylocity Holding Co. (NASDAQ:PCTY)

Nisa Investment Advisors LLC raised its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 5,742.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,842 shares of the software maker's stock after acquiring an additional 5,742 shares during the quarter. Nisa Investment Advisors LLC's holdings in Paylocity were worth $1,165,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in Paylocity by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker's stock valued at $173,053,000 after buying an additional 36,590 shares during the period. JPMorgan Chase & Co. lifted its holdings in Paylocity by 81.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker's stock valued at $141,303,000 after purchasing an additional 385,625 shares during the last quarter. Janus Henderson Group PLC boosted its position in Paylocity by 3.5% during the third quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker's stock worth $85,444,000 after purchasing an additional 17,560 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Paylocity by 58.3% in the second quarter. Dimensional Fund Advisors LP now owns 335,946 shares of the software maker's stock valued at $44,296,000 after purchasing an additional 123,744 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Paylocity by 435.2% in the second quarter. Millennium Management LLC now owns 331,253 shares of the software maker's stock valued at $43,676,000 after purchasing an additional 269,354 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PCTY shares. KeyCorp increased their price target on shares of Paylocity from $210.00 to $220.00 and gave the company an "overweight" rating in a report on Friday. Mizuho raised Paylocity from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $200.00 to $235.00 in a report on Friday. Jefferies Financial Group increased their price objective on Paylocity from $215.00 to $240.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. BMO Capital Markets boosted their target price on shares of Paylocity from $175.00 to $203.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Finally, Truist Financial lifted their price objective on shares of Paylocity from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Paylocity has an average rating of "Moderate Buy" and a consensus price target of $213.86.

Paylocity Price Performance

Paylocity stock traded up $4.66 during midday trading on Friday, reaching $206.12. The company's stock had a trading volume of 355,067 shares, compared to its average volume of 486,245. The stock has a market cap of $11.49 billion, a PE ratio of 52.80, a price-to-earnings-growth ratio of 4.98 and a beta of 0.93. 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 52 week low of $129.94 and a 52 week high of $215.68. The business has a 50-day moving average price of $201.39 and a 200-day moving average price of $178.43.

Insider Buying and Selling

In other Paylocity news, 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 owns 14,634 shares of the company's stock, valued at $2,828,605.86. This represents a 1.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven I. Sarowitz sold 2,600 shares of Paylocity stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $200.14, for a total value of $520,364.00. Following the sale, the director now directly owns 8,332,347 shares in the company, valued at $1,667,635,928.58. The trade was a 0.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 157,486 shares of company stock worth $31,751,368 in the last three months. 21.91% of the stock is owned by corporate insiders.

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.