Quantbot Technologies LP Sells 24,171 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Quantbot Technologies LP trimmed its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 83.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,722 shares of the software maker's stock after selling 24,171 shares during the quarter. Quantbot Technologies LP's holdings in Paylocity were worth $779,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Millennium Management LLC lifted its position in Paylocity by 435.2% in the 2nd quarter. Millennium Management LLC now owns 331,253 shares of the software maker's stock valued at $43,676,000 after purchasing an additional 269,354 shares during the last quarter. Liontrust Investment Partners LLP raised its holdings in shares of Paylocity by 27.1% during the second quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker's stock valued at $106,840,000 after buying an additional 172,807 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Paylocity by 1,662.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 181,920 shares of the software maker's stock worth $23,986,000 after buying an additional 171,597 shares during the period. Dimensional Fund Advisors LP grew its holdings in Paylocity by 58.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 335,946 shares of the software maker's stock worth $44,296,000 after buying an additional 123,744 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Paylocity in the 2nd quarter valued at approximately $15,193,000. Institutional investors own 94.76% of the company's stock.

Insider Activity at Paylocity

In other news, SVP Rachit Lohani sold 658 shares of the business'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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Andrew Cappotelli sold 247 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $47,742.63. Following the sale, the senior vice president now owns 14,634 shares of the company's stock, valued at approximately $2,828,605.86. This represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,027 shares of company stock worth $17,155,429. 21.91% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PCTY. Jefferies Financial Group lifted their price objective on shares of Paylocity from $200.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Piper Sandler boosted their price target on shares of Paylocity from $172.00 to $212.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Truist Financial increased their price objective on shares of Paylocity from $195.00 to $210.00 and gave the company a "buy" rating in a report on Friday, November 1st. BMO Capital Markets boosted their target price on Paylocity from $175.00 to $203.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Finally, Mizuho increased their price target on Paylocity from $175.00 to $180.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Paylocity presently has a consensus rating of "Moderate Buy" and a consensus price target of $196.64.

Paylocity Trading Up 0.9 %

PCTY stock traded up $1.92 during mid-day trading on Monday, reaching $209.46. 243,266 shares of the stock traded hands, compared to its average volume of 496,271. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $215.68. The stock's fifty day moving average is $183.90 and its 200-day moving average is $161.25. The company has a market cap of $11.68 billion, a P/E ratio of 53.08, a P/E/G ratio of 5.11 and a beta of 0.93. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29.

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.