Tidal Investments LLC Has $1.46 Million Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Tidal Investments LLC grew its holdings in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 207.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 8,836 shares of the software maker's stock after buying an additional 5,958 shares during the period. Tidal Investments LLC's holdings in Paylocity were worth $1,458,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Coldstream Capital Management Inc. purchased a new stake in shares of Paylocity in the third quarter valued at approximately $239,000. Geode Capital Management LLC grew its stake in Paylocity by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker's stock valued at $173,053,000 after acquiring an additional 36,590 shares during the last quarter. Vestcor Inc raised its position in shares of Paylocity by 943.8% during the 3rd quarter. Vestcor Inc now owns 10,000 shares of the software maker's stock worth $1,650,000 after purchasing an additional 9,042 shares during the last quarter. Barclays PLC raised its stake in Paylocity by 14.3% in the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker's stock valued at $7,407,000 after purchasing an additional 5,609 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in Paylocity by 30.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 65,408 shares of the software maker's stock worth $10,790,000 after buying an additional 15,092 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Paylocity Price Performance

PCTY traded down $8.68 during midday trading on Wednesday, hitting $194.40. The company had a trading volume of 354,624 shares, compared to its average volume of 489,864. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $215.68. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The firm's 50-day simple moving average is $193.53 and its 200-day simple moving average is $165.04. The company has a market capitalization of $10.84 billion, a PE ratio of 49.72, a P/E/G ratio of 4.93 and a beta of 0.92.

Insider Transactions at Paylocity

In related news, Director Steven I. Sarowitz sold 10,621 shares of Paylocity stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $200.86, for a total value of $2,133,334.06. Following the sale, the director now owns 8,365,533 shares of the company's stock, valued at approximately $1,680,300,958.38. This trade represents a 0.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey T. Diehl sold 29,606 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $196.55, for a total value of $5,819,059.30. Following the completion of the transaction, the director now owns 11,755 shares of the company's stock, valued at approximately $2,310,445.25. This represents a 71.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 139,710 shares of company stock worth $28,124,978 over the last 90 days. 21.91% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on PCTY shares. Jefferies Financial Group upped their price target on shares of Paylocity from $215.00 to $240.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. BMO Capital Markets increased their price objective on Paylocity from $175.00 to $203.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Piper Sandler increased their price target on Paylocity from $172.00 to $212.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. StockNews.com upgraded Paylocity from a "hold" rating to a "buy" rating in a report on Saturday, December 7th. Finally, Truist Financial lifted their target price on Paylocity from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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.