Paylocity Holding Co. (NASDAQ:PCTY) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc grew its position in Paylocity Holding Co. (NASDAQ:PCTY) by 3.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,652 shares of the software maker’s stock after purchasing an additional 58 shares during the period. CIBC Asset Management Inc’s holdings in Paylocity were worth $273,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PCTY. UMB Bank n.a. grew its position in Paylocity by 1,650.0% during the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after purchasing an additional 165 shares during the period. Rothschild Investment LLC purchased a new stake in shares of Paylocity in the second quarter worth about $40,000. Signaturefd LLC grew its holdings in Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after acquiring an additional 167 shares during the period. Versant Capital Management Inc purchased a new position in Paylocity during the second quarter valued at approximately $66,000. Finally, CWM LLC lifted its holdings in Paylocity by 103.3% in the second quarter. CWM LLC now owns 557 shares of the software maker’s stock valued at $73,000 after acquiring an additional 283 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Paylocity

In related news, Director Steven I. Sarowitz sold 15,444 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $195.43, for a total transaction of $3,018,220.92. Following the completion of the sale, the director now owns 9,272,906 shares in the company, valued at $1,812,204,019.58. This represents a 0.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Nicholas Rost sold 212 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total transaction of $40,977.48. Following the sale, the chief accounting officer now owns 7,364 shares of the company’s stock, valued at $1,423,387.56. This trade represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,971 shares of company stock valued at $11,750,096. Insiders own 21.91% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PCTY shares. Piper Sandler raised their price objective on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Truist Financial lifted their price objective on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 1st. 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, November 4th. Needham & Company LLC lifted their price target on Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, KeyCorp increased their price target on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $196.64.

Paylocity Price Performance

PCTY stock opened at $205.28 on Friday. The business’s 50-day moving average is $178.10 and its two-hundred day moving average is $159.63. The firm has a market capitalization of $11.44 billion, a P/E ratio of 52.50, a P/E/G ratio of 4.89 and a beta of 0.93. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32.

Paylocity Company 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.