Principal Financial Group Inc. Sells 24,465 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Principal Financial Group Inc. trimmed its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 16.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 124,342 shares of the software maker's stock after selling 24,465 shares during the period. Principal Financial Group Inc. owned approximately 0.22% of Paylocity worth $20,513,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in shares of Paylocity by 1,650.0% in the third quarter. UMB Bank n.a. now owns 175 shares of the software maker's stock valued at $29,000 after acquiring an additional 165 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of Paylocity during the 2nd quarter valued at $40,000. J.Safra Asset Management Corp raised its stake in shares of Paylocity by 80.0% in the 1st quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker's stock worth $42,000 after buying an additional 108 shares in the last quarter. Signaturefd LLC raised its stake in shares of Paylocity by 121.0% in the 3rd 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, Versant Capital Management Inc acquired a new stake in shares of Paylocity in the second quarter valued at $66,000. Institutional investors and hedge funds own 94.76% of the company's stock.

Insider Buying and Selling at Paylocity

In other Paylocity news, SVP Rachit Lohani sold 658 shares of Paylocity 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 of the company's stock, valued at $6,474,772.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, 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 transaction of $107,142.14. Following the completion of the sale, the senior vice president now directly owns 39,764 shares of the company's stock, valued at $6,474,772.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ryan Glenn sold 500 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $203.28, for a total value of $101,640.00. Following the completion of the sale, the chief financial officer now directly owns 52,134 shares of the company's stock, valued at approximately $10,597,799.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,896 shares of company stock worth $6,049,629. 21.91% of the stock is currently owned by company insiders.

Paylocity Stock Down 1.8 %

Shares of PCTY traded down $3.89 during trading hours on Thursday, reaching $207.73. The company's stock had a trading volume of 108,043 shares, compared to its average volume of 501,910. 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 firm has a market cap of $11.58 billion, a price-to-earnings ratio of 54.12, a P/E/G ratio of 5.34 and a beta of 0.93. The company has a 50 day moving average of $173.03 and a two-hundred day moving average of $157.87. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $215.68.

Wall Street Analysts Forecast Growth

PCTY has been the topic of several research reports. KeyCorp boosted their price target on shares of Paylocity from $187.00 to $210.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Jefferies Financial Group boosted their target price on shares of Paylocity from $200.00 to $215.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Truist Financial raised 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. StockNews.com lowered shares of Paylocity from a "buy" rating to a "hold" rating in a research report on Saturday, November 9th. Finally, BMO Capital Markets increased their price objective on Paylocity from $175.00 to $203.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Paylocity has an average rating of "Moderate Buy" and a consensus target price 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.