Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 59.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,921 shares of the software maker’s stock after selling 11,630 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Paylocity were worth $1,307,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Liontrust Investment Partners LLP grew its position in Paylocity by 27.1% during the 2nd quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock worth $106,840,000 after purchasing an additional 172,807 shares during the period. Van Berkom & Associates Inc. boosted its stake in shares of Paylocity by 20.5% in the second quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker’s stock worth $76,447,000 after buying an additional 98,478 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Paylocity by 4.7% during the second quarter. Bank of New York Mellon Corp now owns 472,686 shares of the software maker’s stock worth $62,324,000 after acquiring an additional 21,127 shares during the period. Dimensional Fund Advisors LP raised its position in Paylocity by 58.3% during the second quarter. Dimensional Fund Advisors LP now owns 335,946 shares of the software maker’s stock valued at $44,296,000 after acquiring an additional 123,744 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Paylocity by 435.2% in the second quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock valued at $43,676,000 after acquiring an additional 269,354 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Jeffrey T. Diehl sold 29,606 shares of Paylocity stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $196.55, for a total value of $5,819,059.30. Following the completion of the transaction, the director now owns 11,755 shares in the company, valued at approximately $2,310,445.25. The trade was a 71.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, the chief accounting officer now owns 7,364 shares in the company, valued at approximately $1,423,387.56. This trade represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,427 shares of company stock valued at $18,898,073. 21.91% of the stock is currently owned by corporate insiders.

Paylocity Stock Down 2.8 %

Shares of NASDAQ PCTY opened at $203.84 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $187.43 and its two-hundred day moving average is $162.38. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $215.68. The firm has a market cap of $11.36 billion, a price-to-earnings ratio of 52.13, a PEG ratio of 5.11 and a beta of 0.92.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PCTY. Truist Financial boosted their price objective on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com cut shares of Paylocity from a “buy” rating to a “hold” rating in a research report on Friday, November 29th. Mizuho boosted 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. Jefferies Financial Group upped 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. Finally, Piper Sandler lifted their price objective on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Paylocity has a consensus rating of “Moderate Buy” and an average price target of $196.64.

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.