Stifel Financial Corp Acquires 133 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Stifel Financial Corp lifted its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 0.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 23,412 shares of the software maker’s stock after buying an additional 133 shares during the period. Stifel Financial Corp’s holdings in Paylocity were worth $3,862,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Quantinno Capital Management LP grew its holdings in Paylocity by 62.2% in the third quarter. Quantinno Capital Management LP now owns 29,557 shares of the software maker’s stock worth $4,876,000 after purchasing an additional 11,340 shares during the period. Quarry LP boosted its position in shares of Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after purchasing an additional 185 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Paylocity by 283.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock valued at $51,101,000 after buying an additional 229,057 shares during the period. Janus Henderson Group PLC increased its position in Paylocity by 3.5% in the 3rd quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock valued at $85,444,000 after buying an additional 17,560 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in Paylocity by 25.6% during the 3rd quarter. HighTower Advisors LLC now owns 4,592 shares of the software maker’s stock worth $751,000 after buying an additional 936 shares during the period. Institutional investors own 94.76% of the company’s stock.

Paylocity Price Performance

Paylocity stock opened at $202.78 on Tuesday. The stock has a market cap of $11.30 billion, a P/E ratio of 51.86, a P/E/G ratio of 4.93 and a beta of 0.92. 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 company’s 50 day moving average price is $191.97 and its two-hundred day moving average price is $164.21. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PCTY shares. StockNews.com raised Paylocity from a “hold” rating to a “buy” rating in a research note on Saturday, December 7th. Piper Sandler lifted their price target on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. TD Cowen upped their price objective on shares of Paylocity from $208.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Needham & Company LLC lifted their price objective on shares of Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, KeyCorp boosted their target price 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. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.71.

Insider Buying and Selling

In related news, Director Steven I. Sarowitz sold 10,237 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $210.10, for a total transaction of $2,150,793.70. Following the completion of the sale, the director now owns 9,214,115 shares in the company, valued at approximately $1,935,885,561.50. This trade represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Andrew Cappotelli sold 247 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total transaction of $47,742.63. Following the completion of the transaction, the senior vice president now owns 14,634 shares in the company, valued at approximately $2,828,605.86. The trade was a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 139,710 shares of company stock worth $28,124,978. 21.91% of the stock is owned by company insiders.

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.