Vestcor Inc raised its stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 943.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,000 shares of the software maker's stock after buying an additional 9,042 shares during the quarter. Vestcor Inc's holdings in Paylocity were worth $1,650,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also bought and sold shares of PCTY. UMB Bank n.a. lifted its stake in Paylocity by 1,650.0% in the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker's stock valued at $29,000 after purchasing an additional 165 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Paylocity in the third quarter worth approximately $39,000. Rothschild Investment LLC acquired a new stake in Paylocity during the 2nd quarter worth about $40,000. Signaturefd LLC increased its stake in Paylocity by 121.0% in the third quarter. Signaturefd LLC now owns 305 shares of the software maker's stock valued at $50,000 after purchasing an additional 167 shares in the last quarter. Finally, Quarry LP boosted its holdings in Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker's stock worth $51,000 after acquiring an additional 185 shares in the last quarter. Institutional investors own 94.76% of the company's stock.
Insider Activity at Paylocity
In other news, SVP Rachit Lohani sold 658 shares of Paylocity stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total value of $107,142.14. Following the sale, the senior vice president now directly owns 39,764 shares in the company, valued at approximately $6,474,772.12. This trade represents a 1.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven I. Sarowitz sold 10,237 shares of Paylocity stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $210.10, for a total transaction of $2,150,793.70. Following the completion of the sale, the director now owns 9,214,115 shares in the company, valued at approximately $1,935,885,561.50. This trade represents a 0.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,400 shares of company stock valued at $23,208,807. Insiders own 21.91% of the company's stock.
Paylocity Price Performance
PCTY traded up $1.68 during midday trading on Thursday, hitting $204.59. The stock had a trading volume of 335,752 shares, compared to its average volume of 492,184. The company has a market cap of $11.41 billion, a P/E ratio of 52.32, a price-to-earnings-growth ratio of 5.07 and a beta of 0.92. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68. The business has a fifty day moving average of $191.37 and a 200 day moving average of $163.69.
Analyst Ratings Changes
PCTY has been the subject of a number of analyst reports. Mizuho lifted their price objective on shares of Paylocity from $175.00 to $180.00 and gave the company a "neutral" rating in a report on Monday, November 4th. TD Cowen raised their target price on Paylocity from $208.00 to $235.00 and gave the company a "buy" rating in a research report on Monday. Barclays raised their target price on Paylocity from $174.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 31st. Piper Sandler upped their price target 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. Finally, KeyCorp raised their target price on Paylocity from $187.00 to $210.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $204.29.
Read Our Latest Research Report on Paylocity
About Paylocity
(
Free Report)
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.
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