Everence Capital Management Inc. Acquires Shares of 1,160 Paylocity Holding Co. (NASDAQ:PCTY)

Everence Capital Management Inc. acquired a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,160 shares of the software maker’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UMB Bank n.a. increased its position in Paylocity by 1,650.0% during the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after acquiring an additional 165 shares during the period. Prospera Private Wealth LLC bought a new position in shares of Paylocity during the third quarter worth approximately $39,000. Signaturefd LLC raised its position in shares of Paylocity by 121.0% in the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after buying an additional 167 shares in the last quarter. Quarry LP boosted its stake in shares of Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after buying an additional 185 shares during the period. Finally, GAMMA Investing LLC grew its position in Paylocity by 43.3% during the fourth quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock worth $77,000 after buying an additional 116 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Activity

In related news, Director Jeffrey T. Diehl sold 29,606 shares of the business’s stock in a transaction 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 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Andrew Cappotelli sold 247 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $47,742.63. Following the transaction, the senior vice president now directly owns 14,634 shares of the company’s stock, valued at approximately $2,828,605.86. This represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 157,486 shares of company stock valued at $31,751,368 over the last quarter. 21.91% of the stock is owned by company insiders.

Paylocity Price Performance

Shares of PCTY opened at $194.46 on Thursday. The business has a 50-day simple moving average of $201.95 and a two-hundred day simple moving average of $171.44. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $215.68. The stock has a market cap of $10.84 billion, a PE ratio of 49.73, a PEG ratio of 4.93 and a beta of 0.93. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29.

Analysts Set New Price Targets

PCTY has been the subject of several analyst reports. KeyCorp lifted their price objective on Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Piper Sandler boosted their price target on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Jefferies Financial Group increased their price objective on shares of Paylocity from $215.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. TD Cowen boosted their target price on shares of Paylocity from $208.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Truist Financial increased their price target 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. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.71.

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.