GAMMA Investing LLC Grows Position in Paylocity Holding Co. (NASDAQ:PCTY)

GAMMA Investing LLC lifted its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 43.3% in the fourth quarter, Holdings Channel reports. The firm owned 384 shares of the software maker’s stock after purchasing an additional 116 shares during the period. GAMMA Investing LLC’s holdings in Paylocity were worth $77,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PCTY. UMB Bank n.a. grew its stake 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 buying an additional 165 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of Paylocity during the 3rd quarter valued at $39,000. Signaturefd LLC boosted its position in Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after purchasing an additional 167 shares during the period. Quarry LP increased its holdings in Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after purchasing an additional 185 shares in the last quarter. Finally, Tompkins Financial Corp purchased a new position in Paylocity in the third quarter valued at about $82,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PCTY shares. Needham & Company LLC upped their target price on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Jefferies Financial Group increased their price objective on shares of Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, December 9th. StockNews.com raised shares of Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday, December 7th. Piper Sandler raised their price target on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, KeyCorp lifted their price target on shares of Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.21.

Insiders Place Their Bets

In related news, Director Steven I. Sarowitz sold 2,600 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $200.14, for a total value of $520,364.00. Following the completion of the transaction, the director now directly owns 8,332,347 shares of the company’s stock, valued at $1,667,635,928.58. This represents a 0.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Andrew Cappotelli sold 247 shares of Paylocity stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $47,742.63. Following the sale, the senior vice president now directly owns 14,634 shares in the company, valued at $2,828,605.86. The trade was a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 157,486 shares of company stock valued at $31,751,368 over the last quarter. Insiders own 21.91% of the company’s stock.

Paylocity Trading Down 1.6 %

Paylocity stock opened at $191.43 on Friday. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68. The firm’s 50-day moving average is $202.46 and its 200-day moving average is $172.42. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market cap of $10.67 billion, a P/E ratio of 48.96, a PEG ratio of 4.93 and a beta of 0.93.

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.