Paylocity Holding Co. (NASDAQ:PCTY) Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 62.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,557 shares of the software maker's stock after acquiring an additional 11,340 shares during the quarter. Quantinno Capital Management LP owned approximately 0.05% of Paylocity worth $4,876,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC raised its position in Paylocity by 16,397.9% during the 3rd quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker's stock valued at $1,279,000 after purchasing an additional 7,707 shares in the last quarter. Cetera Advisors LLC bought a new stake in shares of Paylocity in the first quarter valued at about $729,000. Cetera Investment Advisers lifted its stake in Paylocity by 128.7% in the first quarter. Cetera Investment Advisers now owns 11,783 shares of the software maker's stock worth $2,025,000 after acquiring an additional 6,630 shares during the period. Qsemble Capital Management LP bought a new position in Paylocity during the 2nd quarter worth about $842,000. Finally, Quest Partners LLC increased its position in Paylocity by 82,275.0% during the 2nd quarter. Quest Partners LLC now owns 6,590 shares of the software maker's stock valued at $869,000 after purchasing an additional 6,582 shares during the period. Institutional investors own 94.76% of the company's stock.

Insider Transactions at Paylocity

In other Paylocity news, SVP Rachit Lohani sold 658 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 39,764 shares of the company's stock, valued at approximately $6,474,772.12. This trade represents a 1.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 directly owns 11,755 shares in the company, valued at $2,310,445.25. This trade represents a 71.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,327 shares of company stock worth $20,340,311. Company insiders own 21.91% of the company's stock.

Paylocity Stock Performance

NASDAQ:PCTY traded up $1.96 during trading hours on Friday, hitting $205.80. 252,326 shares of the company were exchanged, compared to its average volume of 379,378. The company's 50 day moving average price is $188.32 and its 200-day moving average price is $162.55. The stock has a market capitalization of $11.47 billion, a price-to-earnings ratio of 52.63, a PEG ratio of 5.16 and a beta of 0.92. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $215.68. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PCTY shares. Piper Sandler increased their price objective on shares of Paylocity from $172.00 to $212.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. StockNews.com raised Paylocity from a "hold" rating to a "buy" rating in a research report on Saturday. Barclays boosted their price target on Paylocity from $174.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 31st. BMO Capital Markets upped their price objective on Paylocity from $175.00 to $203.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC lifted their target price on Paylocity from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $196.64.

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.