UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $17.06 Million Stake in Paylocity Holding Co. (NASDAQ:PCTY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 60.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,380 shares of the software maker's stock after selling 158,877 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.19% of Paylocity worth $17,055,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PCTY. Cetera Investment Advisers increased its holdings in Paylocity by 128.7% during the 1st quarter. Cetera Investment Advisers now owns 11,783 shares of the software maker's stock valued at $2,025,000 after acquiring an additional 6,630 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of Paylocity during the first quarter valued at $729,000. CWM LLC increased its position in Paylocity by 103.3% during the 2nd quarter. CWM LLC now owns 557 shares of the software maker's stock worth $73,000 after purchasing an additional 283 shares in the last quarter. SG Americas Securities LLC raised its stake in Paylocity by 2.9% in the 2nd quarter. SG Americas Securities LLC now owns 5,843 shares of the software maker's stock valued at $770,000 after purchasing an additional 162 shares during the last quarter. Finally, Washington Capital Management Inc. lifted its holdings in Paylocity by 62.6% in the 2nd quarter. Washington Capital Management Inc. now owns 5,530 shares of the software maker's stock valued at $729,000 after purchasing an additional 2,130 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on PCTY shares. Mizuho boosted their price target on Paylocity from $175.00 to $180.00 and gave the company a "neutral" rating in a report on Monday, November 4th. Needham & Company LLC upped 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. KeyCorp raised their price target on Paylocity from $187.00 to $210.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Barclays upped their price objective on shares of Paylocity from $174.00 to $180.00 and gave the company an "equal weight" rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group raised their target price on shares of Paylocity from $200.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $196.64.

Insider Buying and Selling

In related news, Director Jeffrey T. Diehl sold 4,513 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $209.91, for a total value of $947,323.83. Following the completion of the sale, the director now owns 1,003 shares of the company's stock, valued at $210,539.73. This trade represents a 81.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven I. Sarowitz sold 12,226 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $196.29, for a total transaction of $2,399,841.54. Following the completion of the transaction, the director now owns 9,300,847 shares of the company's stock, valued at $1,825,663,257.63. This trade represents a 0.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,327 shares of company stock worth $20,340,311 in the last three months. Insiders own 21.91% of the company's stock.

Paylocity Price Performance

Paylocity stock traded up $1.96 during trading hours on Friday, hitting $205.80. 252,326 shares of the stock were exchanged, compared to its average volume of 379,378. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $215.68. The business's 50-day moving average is $188.32 and its two-hundred day moving average is $162.55. 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 stock has a market capitalization of $11.47 billion, a P/E ratio of 52.63, a P/E/G ratio of 5.16 and a beta of 0.92.

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.