Harel Insurance Investments & Financial Services Ltd. Has $7.24 Million Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 91.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,315 shares of the software maker's stock after purchasing an additional 17,391 shares during the period. Harel Insurance Investments & Financial Services Ltd. owned 0.07% of Paylocity worth $7,244,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. CIBC Asset Management Inc raised its position in Paylocity by 3.6% during 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 in the last quarter. UMB Bank n.a. grew its holdings in Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock worth $49,000 after purchasing an additional 72 shares during the period. Chicago Partners Investment Group LLC increased 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 worth $395,000 after buying an additional 82 shares during the last quarter. Covestor Ltd raised its stake 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 during the period. Finally, GAMMA Investing LLC lifted 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 valued at $77,000 after buying an additional 116 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Insider Activity at Paylocity

In other Paylocity news, CAO Nicholas Rost sold 212 shares of the business's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total transaction of $40,977.48. Following the completion of the transaction, the chief accounting officer now owns 7,364 shares of the company's stock, valued at approximately $1,423,387.56. The trade was a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven I. Sarowitz sold 2,600 shares of the firm's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $200.14, for a total transaction of $520,364.00. Following the completion of the sale, the director now owns 8,332,347 shares in the company, valued at approximately $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 have sold 157,486 shares of company stock valued at $31,751,368 over the last three months. 21.91% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PCTY. KeyCorp boosted their target price on Paylocity from $187.00 to $210.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Jefferies Financial Group increased their price objective on shares of Paylocity from $215.00 to $240.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Truist Financial lifted their target price on shares of Paylocity from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Citigroup raised shares of Paylocity from a "neutral" rating to a "buy" rating and increased their price target for the company from $214.00 to $231.00 in a report on Thursday, January 16th. Finally, Barclays upped their target price on Paylocity from $174.00 to $180.00 and gave the company an "equal weight" rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $210.64.

Paylocity Price Performance

Shares of NASDAQ:PCTY traded up $2.98 during midday trading on Friday, hitting $206.50. The stock had a trading volume of 402,425 shares, compared to its average volume of 371,785. The company's 50-day moving average price is $200.74 and its 200-day moving average price is $176.67. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $215.68. 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 company has a market capitalization of $11.51 billion, a P/E ratio of 52.81, a price-to-earnings-growth ratio of 4.84 and a beta of 0.93.

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.