Westfield Capital Management Co. LP cut its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 93.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,840 shares of the software maker's stock after selling 271,812 shares during the period. Westfield Capital Management Co. LP's holdings in Paylocity were worth $3,108,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of PCTY. UMB Bank n.a. grew its position in shares of Paylocity by 1,650.0% during the third quarter. UMB Bank n.a. now owns 175 shares of the software maker's stock worth $29,000 after buying an additional 165 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Paylocity during the third quarter worth about $39,000. Rothschild Investment LLC acquired a new position in shares of Paylocity during the second quarter worth about $40,000. Signaturefd LLC grew its position in shares of Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker's stock worth $50,000 after buying an additional 167 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in Paylocity by 46.6% in the first quarter. Advisors Asset Management Inc. now owns 428 shares of the software maker's stock valued at $74,000 after purchasing an additional 136 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the company. Piper Sandler upped their price target on Paylocity from $172.00 to $212.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. 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. StockNews.com raised Paylocity from a "hold" rating to a "buy" rating in a report on Thursday, November 21st. Mizuho upped their price target on Paylocity from $175.00 to $180.00 and gave the company a "neutral" rating in a report on Monday, November 4th. Finally, Jefferies Financial Group upped their price target on Paylocity from $200.00 to $215.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $196.64.
View Our Latest Analysis on PCTY
Paylocity Stock Performance
Shares of Paylocity stock traded up $1.77 during trading hours on Tuesday, hitting $211.88. 312,475 shares of the company were exchanged, compared to its average volume of 499,733. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average of $180.08 and a 200-day moving average of $160.07. The stock has a market capitalization of $11.81 billion, a price-to-earnings ratio of 53.74, a P/E/G ratio of 5.05 and a beta of 0.93.
Insider Transactions at Paylocity
In other Paylocity news, Director Steven I. Sarowitz sold 12,226 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $196.29, for a total value of $2,399,841.54. Following the completion of the transaction, the director now owns 9,300,847 shares in the company, valued at approximately $1,825,663,257.63. This represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Rachit Lohani sold 658 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total value of $107,142.14. Following the completion of the transaction, the senior vice president now owns 39,764 shares of the company's stock, valued at $6,474,772.12. The trade was a 1.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,277 shares of company stock worth $14,057,311 over the last 90 days. 21.91% of the stock is currently owned by insiders.
Paylocity Company Profile
(
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.
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