Nomura Asset Management Co. Ltd. Decreases Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Nomura Asset Management Co. Ltd. lessened its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 53.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,379 shares of the software maker's stock after selling 10,940 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Paylocity were worth $1,547,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. CIBC Asset Management Inc raised its stake in 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 buying an additional 58 shares in the last quarter. Chicago Partners Investment Group LLC boosted 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 valued at $395,000 after purchasing an additional 82 shares in the last quarter. Covestor Ltd grew its stake 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 lifted its position in Paylocity by 1.0% during the second quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker's stock valued at $1,316,000 after buying an additional 103 shares during the period. Finally, SkyOak Wealth LLC boosted its holdings in shares of Paylocity by 7.1% during the 2nd 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 in the last quarter. Institutional investors own 94.76% of the company's stock.

Paylocity Stock Performance

PCTY traded down $4.42 during midday trading on Friday, hitting $200.17. 364,430 shares of the company traded hands, compared to its average volume of 491,655. The company's 50-day moving average is $191.97 and its 200 day moving average is $164.21. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68. The firm has a market capitalization of $11.16 billion, a PE ratio of 51.19, a price-to-earnings-growth ratio of 5.00 and a beta of 0.92. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29.

Insider Activity at Paylocity

In other Paylocity news, CAO Nicholas Rost sold 212 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $40,977.48. Following the transaction, the chief accounting officer now owns 7,364 shares of the company's stock, valued at approximately $1,423,387.56. This represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rachit Lohani sold 658 shares of the firm's stock in a transaction dated 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 directly owns 39,764 shares in the company, valued at $6,474,772.12. The trade was a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 129,089 shares of company stock worth $25,991,644 over the last quarter. Company insiders own 21.91% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on PCTY shares. Mizuho increased their price target on shares of Paylocity from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday. Truist Financial raised their target price 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. Jefferies Financial Group boosted their price target on Paylocity from $215.00 to $240.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. StockNews.com raised Paylocity from a "hold" rating to a "buy" rating in a research report on Saturday, December 7th. Finally, 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. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $205.71.

Paylocity Company 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.