Creative Planning Takes Position in Paylocity Holding Co. (NASDAQ:PCTY)

Creative Planning purchased a new position in Paylocity Holding Co. (NASDAQ:PCTY) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,619 shares of the software maker’s stock, valued at approximately $267,000.

Other institutional investors have also made changes to their positions in the company. UMB Bank n.a. lifted its position in Paylocity by 1,650.0% in the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after buying an additional 165 shares in the last quarter. J.Safra Asset Management Corp increased its stake in shares of Paylocity by 80.0% in the first quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock worth $42,000 after acquiring an additional 108 shares during the last quarter. Rothschild Investment LLC purchased a new stake in shares of Paylocity during the second quarter worth $40,000. Advisors Asset Management Inc. boosted its position in Paylocity by 46.6% during the first quarter. Advisors Asset Management Inc. now owns 428 shares of the software maker’s stock valued at $74,000 after purchasing an additional 136 shares during the last quarter. Finally, Versant Capital Management Inc purchased a new position in Paylocity in the second quarter valued at about $66,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Trading Up 0.2 %

Shares of PCTY opened at $211.16 on Friday. The stock’s 50-day moving average price is $170.00 and its 200 day moving average price is $156.71. 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 12-month low of $129.94 and a 12-month high of $213.98. The firm has a market capitalization of $11.77 billion, a price-to-earnings ratio of 54.01, a P/E/G ratio of 5.36 and a beta of 0.93.

Insider Transactions at Paylocity

In related news, SVP Rachit Lohani sold 658 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total value of $107,142.14. Following the sale, the senior vice president now owns 39,764 shares of the company’s stock, valued at $6,474,772.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Rachit Lohani sold 658 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total value of $107,142.14. Following the sale, the senior vice president now owns 39,764 shares in the company, valued at approximately $6,474,772.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ryan Glenn sold 500 shares of Paylocity stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $203.28, for a total transaction of $101,640.00. Following the transaction, the chief financial officer now directly owns 52,134 shares of the company’s stock, valued at $10,597,799.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,896 shares of company stock valued at $6,049,629. Company insiders own 21.91% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Piper Sandler lifted their price target on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Jefferies Financial Group lifted their target price on shares of Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. StockNews.com lowered shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Saturday. BMO Capital Markets lifted their price objective on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, 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 report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $196.64.

About Paylocity

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.