Paylocity Holding Co. (NASDAQ:PCTY) Holdings Raised by Cerity Partners LLC

Cerity Partners LLC lifted its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 28.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,046 shares of the software maker’s stock after purchasing an additional 3,794 shares during the quarter. Cerity Partners LLC’s holdings in Paylocity were worth $2,812,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. increased its position in shares of Paylocity by 46.6% in the first quarter. Advisors Asset Management Inc. now owns 428 shares of the software maker’s stock worth $74,000 after acquiring an additional 136 shares in the last quarter. Tidal Investments LLC boosted its stake in Paylocity by 142.3% in the 1st quarter. Tidal Investments LLC now owns 3,989 shares of the software maker’s stock worth $686,000 after purchasing an additional 2,343 shares during the period. Cetera Investment Advisers grew its position in Paylocity by 128.7% during the 1st quarter. Cetera Investment Advisers now owns 11,783 shares of the software maker’s stock worth $2,025,000 after purchasing an additional 6,630 shares in the last quarter. Cetera Advisors LLC acquired a new stake in Paylocity during the 1st quarter valued at $729,000. Finally, First Hawaiian Bank lifted its holdings in shares of Paylocity by 6.6% in the second quarter. First Hawaiian Bank now owns 2,425 shares of the software maker’s stock valued at $320,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. BMO Capital Markets lifted their price target on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Needham & Company LLC lifted their target price on Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. KeyCorp increased their price target 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. Jefferies Financial Group boosted their price objective on shares of Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. 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 report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $196.64.

Insider Activity at Paylocity

In other Paylocity news, CAO Nicholas Rost sold 212 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total transaction of $40,977.48. Following the transaction, the chief accounting officer now owns 7,364 shares in the company, valued at $1,423,387.56. This trade represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey T. Diehl sold 29,606 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $196.55, for a total transaction of $5,819,059.30. Following the completion of the sale, the director now owns 11,755 shares of the company’s stock, valued at $2,310,445.25. The trade was a 71.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,790 shares of company stock valued at $15,004,635. Corporate insiders own 21.91% of the company’s stock.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $207.54 on Friday. The stock has a market capitalization of $11.57 billion, a P/E ratio of 53.08, a P/E/G ratio of 5.17 and a beta of 0.93. The business has a 50-day moving average of $183.90 and a two-hundred day moving average of $161.32. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week 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.