Huntington National Bank Sells 308 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Huntington National Bank reduced its position in Paylocity Holding Co. (NASDAQ:PCTY) by 49.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 314 shares of the software maker’s stock after selling 308 shares during the period. Huntington National Bank’s holdings in Paylocity were worth $52,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its position in shares of Paylocity by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock valued at $1,518,176,000 after purchasing an additional 278,607 shares during the period. Liontrust Investment Partners LLP raised its holdings in Paylocity by 27.1% during the 2nd quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock valued at $106,840,000 after acquiring an additional 172,807 shares during the period. Van Berkom & Associates Inc. lifted its position in shares of Paylocity by 20.5% during the second quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker’s stock worth $76,447,000 after acquiring an additional 98,478 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Paylocity by 4.7% in 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. Finally, Dimensional Fund Advisors LP grew its position in shares of Paylocity by 58.3% in the second quarter. Dimensional Fund Advisors LP now owns 335,946 shares of the software maker’s stock valued at $44,296,000 after purchasing an additional 123,744 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on PCTY shares. Piper Sandler raised their target price on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. BMO Capital Markets raised their price objective on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Barclays boosted their price objective on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Needham & Company LLC increased their target price on shares of Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, StockNews.com lowered shares of Paylocity from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Paylocity currently has an average rating of “Moderate Buy” and a consensus target price of $196.64.

Insiders Place Their Bets

In other Paylocity 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 completion of the sale, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Rachit Lohani sold 658 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total value of $107,142.14. Following the transaction, the senior vice president now directly owns 39,764 shares in the company, valued at $6,474,772.12. This trade represents a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,896 shares of company stock valued at $6,049,629 over the last quarter. 21.91% of the stock is owned by corporate insiders.

Paylocity Price Performance

PCTY opened at $195.57 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $10.90 billion, a P/E ratio of 50.02, a PEG ratio of 4.96 and a beta of 0.93. The stock has a 50-day moving average price of $174.91 and a 200-day moving average price of $158.57. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $215.68.

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.