State of Alaska Department of Revenue Has $832,000 Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

State of Alaska Department of Revenue raised its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 7.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,046 shares of the software maker’s stock after acquiring an additional 340 shares during the quarter. State of Alaska Department of Revenue’s holdings in Paylocity were worth $832,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. UMB Bank n.a. increased its position in shares of Paylocity by 1,650.0% during the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after buying an additional 165 shares during the period. J.Safra Asset Management Corp increased its position in shares of Paylocity by 80.0% during the first quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock worth $42,000 after buying an additional 108 shares during the period. Rothschild Investment LLC acquired a new stake in shares of Paylocity during the second quarter worth $40,000. Signaturefd LLC increased 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 during the period. Finally, Advisors Asset Management Inc. increased its position in shares of Paylocity by 46.6% during the first quarter. Advisors Asset Management Inc. now owns 428 shares of the software maker’s stock worth $74,000 after buying an additional 136 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Stock Up 3.0 %

PCTY opened at $197.00 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. The company’s 50-day moving average is $166.98 and its 200 day moving average is $155.58. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $197.25. The firm has a market capitalization of $10.98 billion, a P/E ratio of 50.38, a PEG ratio of 4.64 and a beta of 0.93.

Insider Activity at Paylocity

In related news, SVP Rachit Lohani sold 658 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total transaction of $107,142.14. Following the transaction, the senior vice president now directly owns 39,764 shares of the company’s stock, valued at $6,474,772.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 21.91% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Barclays increased their price objective on shares of Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. StockNews.com raised shares of Paylocity from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. KeyCorp increased their target price on shares of Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Mizuho increased their target price on shares of Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Truist Financial increased their target price on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $194.20.

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.