Worldquant Millennium Advisors LLC Lowers Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Worldquant Millennium Advisors LLC trimmed its position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 66.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,747 shares of the software maker's stock after selling 64,185 shares during the quarter. Worldquant Millennium Advisors LLC owned 0.06% of Paylocity worth $5,237,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PCTY. UMB Bank n.a. raised its stake in shares of Paylocity by 1,650.0% in the third quarter. UMB Bank n.a. now owns 175 shares of the software maker's stock valued at $29,000 after acquiring an additional 165 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Paylocity in the 3rd quarter valued at about $39,000. Rothschild Investment LLC purchased a new position in shares of Paylocity in the 2nd quarter valued at about $40,000. Signaturefd LLC grew its position in shares of Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker's stock worth $50,000 after buying an additional 167 shares in the last quarter. Finally, Quarry LP grew its position in shares of Paylocity by 149.2% during the third quarter. Quarry LP now owns 309 shares of the software maker's stock worth $51,000 after buying an additional 185 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Paylocity

In related news, Director Steven I. Sarowitz sold 12,226 shares of the business's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $196.29, for a total value of $2,399,841.54. Following the transaction, the director now owns 9,300,847 shares in the company, valued at $1,825,663,257.63. The trade was a 0.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Rachit Lohani sold 658 shares of the 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 of the company's stock, valued at $6,474,772.12. The trade was a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,327 shares of company stock worth $20,340,311 in the last 90 days. 21.91% of the stock is owned by insiders.

Paylocity Stock Performance

PCTY traded up $1.96 during trading on Friday, hitting $205.80. 252,326 shares of the stock were exchanged, compared to its average volume of 379,378. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $215.68. The stock has a fifty day moving average price of $188.32 and a two-hundred day moving average price of $162.55. The firm has a market capitalization of $11.47 billion, a P/E ratio of 52.63, a PEG ratio of 5.16 and a beta of 0.92.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Mizuho raised their target price on shares of Paylocity from $175.00 to $180.00 and gave the company a "neutral" rating in a report on Monday, November 4th. Piper Sandler raised their price objective on shares of Paylocity from $172.00 to $212.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Needham & Company LLC increased their target price on Paylocity from $200.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Truist Financial raised their price target on Paylocity from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Finally, StockNews.com raised Paylocity from a "hold" rating to a "buy" rating in a research report on Saturday. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $196.64.

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.