Quest Partners LLC Sells 1,568 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Quest Partners LLC reduced its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 23.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,022 shares of the software maker’s stock after selling 1,568 shares during the quarter. Quest Partners LLC’s holdings in Paylocity were worth $828,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Seven Eight Capital LP acquired a new stake in Paylocity during the 1st quarter worth approximately $348,000. UniSuper Management Pty Ltd lifted its position in Paylocity by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 600 shares of the software maker’s stock valued at $103,000 after acquiring an additional 300 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Paylocity by 13.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 60,997 shares of the software maker’s stock valued at $10,484,000 after acquiring an additional 7,144 shares in the last quarter. Shell Asset Management Co. boosted its stake in Paylocity by 67.0% in the 1st quarter. Shell Asset Management Co. now owns 2,732 shares of the software maker’s stock worth $470,000 after purchasing an additional 1,096 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in Paylocity by 46.6% during the 1st quarter. Advisors Asset Management Inc. now owns 428 shares of the software maker’s stock worth $74,000 after purchasing an additional 136 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Trading Up 3.3 %

Shares of Paylocity stock opened at $201.75 on Friday. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68. The company has a market capitalization of $11.25 billion, a price-to-earnings ratio of 51.60, a P/E/G ratio of 4.89 and a beta of 0.93. The business has a fifty day simple moving average of $177.18 and a two-hundred day simple moving average of $159.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32.

Wall Street Analysts Forecast Growth

PCTY has been the subject of several recent research reports. JMP Securities reaffirmed a “market outperform” rating and set a $250.00 price objective on shares of Paylocity in a research report on Monday, August 5th. BTIG Research decreased their price target on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. KeyCorp boosted their price objective on shares of Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Needham & Company LLC raised their target price on shares of Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group boosted their price target 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 investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Paylocity currently has a consensus rating of “Moderate Buy” and an average target price of $196.64.

Insider Transactions at Paylocity

In other Paylocity news, CFO Ryan Glenn sold 500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $203.28, for a total transaction of $101,640.00. Following the transaction, the chief financial officer now owns 52,134 shares in the company, valued at $10,597,799.52. This trade represents a 0.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven I. Sarowitz sold 12,226 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $196.29, for a total transaction of $2,399,841.54. Following the completion of the sale, the director now directly owns 9,300,847 shares of the company’s stock, valued at approximately $1,825,663,257.63. The trade was a 0.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,527 shares of company stock worth $8,731,875. 21.91% of the stock is owned by insiders.

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.