Intech Investment Management LLC Has $533,000 Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Intech Investment Management LLC lowered its position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 65.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,228 shares of the software maker's stock after selling 6,191 shares during the quarter. Intech Investment Management LLC's holdings in Paylocity were worth $533,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. CIBC Asset Management Inc lifted its holdings in shares of Paylocity by 3.6% during the 3rd 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. Chicago Partners Investment Group LLC grew its position in shares of 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 in the last quarter. Covestor Ltd boosted its holdings in 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 purchasing an additional 83 shares during the period. King Luther Capital Management Corp boosted its holdings in Paylocity by 1.0% in the second quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker's stock worth $1,316,000 after purchasing an additional 103 shares during the period. Finally, SkyOak Wealth LLC lifted its stake in Paylocity by 7.1% in the second quarter. SkyOak Wealth LLC now owns 1,837 shares of the software maker's stock valued at $242,000 after buying an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

Insiders Place Their Bets

In other Paylocity news, SVP Rachit Lohani sold 658 shares of the company's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total transaction of $107,142.14. Following the completion of the sale, the senior vice president now owns 39,764 shares in the company, valued at approximately $6,474,772.12. The trade was a 1.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey T. Diehl sold 29,606 shares of the company's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $196.55, for a total transaction of $5,819,059.30. Following the completion of the sale, the director now owns 11,755 shares of the company's stock, valued at approximately $2,310,445.25. This represents a 71.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,027 shares of company stock valued at $17,155,429. 21.91% of the stock is currently owned by corporate insiders.

Paylocity Trading Up 0.9 %

NASDAQ:PCTY traded up $1.92 during trading hours on Monday, hitting $209.46. 243,497 shares of the stock were exchanged, compared to its average volume of 496,793. The company's 50 day moving average is $184.81 and its two-hundred day moving average is $161.51. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month 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 $11.68 billion, a P/E ratio of 53.57, a price-to-earnings-growth ratio of 5.11 and a beta of 0.93.

Wall Street Analysts Forecast Growth

PCTY has been the topic of several research reports. Truist Financial boosted their price target on shares of Paylocity from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Jefferies Financial Group lifted their target price on Paylocity from $200.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Needham & Company LLC lifted their price target on Paylocity from $200.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Barclays boosted their target price on Paylocity from $174.00 to $180.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. Finally, 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. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Paylocity presently has a consensus rating of "Moderate Buy" and a consensus price target of $196.64.

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.