Mutual of America Capital Management LLC Cuts Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Mutual of America Capital Management LLC trimmed its position in Paylocity Holding Co. (NASDAQ:PCTY) by 5.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,425 shares of the software maker’s stock after selling 1,454 shares during the period. Mutual of America Capital Management LLC’s holdings in Paylocity were worth $3,864,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Seven Eight Capital LP purchased a new stake in shares of Paylocity during the first quarter worth approximately $348,000. UniSuper Management Pty Ltd raised its position in shares of Paylocity by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 600 shares of the software maker’s stock valued at $103,000 after buying an additional 300 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Paylocity by 13.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 60,997 shares of the software maker’s stock valued at $10,484,000 after acquiring an additional 7,144 shares in the last quarter. Shell Asset Management Co. raised its holdings in Paylocity by 67.0% in the 1st quarter. Shell Asset Management Co. now owns 2,732 shares of the software maker’s stock valued at $470,000 after acquiring an additional 1,096 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in Paylocity by 46.6% in the 1st quarter. Advisors Asset Management Inc. now owns 428 shares of the software maker’s stock worth $74,000 after purchasing an additional 136 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Trading Up 3.3 %

NASDAQ PCTY opened at $201.75 on Friday. 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 firm has a market cap of $11.25 billion, a price-to-earnings ratio of 51.60, a PEG ratio of 4.89 and a beta of 0.93. The firm has a 50 day simple moving average of $177.18 and a 200-day simple moving average of $159.34. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $215.68.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. StockNews.com raised Paylocity from a “hold” rating to a “buy” rating in a report on Thursday. Barclays boosted their price target on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. BMO Capital Markets raised their price objective on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Jefferies Financial Group increased their price target on shares of Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, KeyCorp lifted their price target on shares of Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $196.64.

Insider Buying and Selling at Paylocity

In other news, SVP Andrew Cappotelli sold 247 shares of the firm’s 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 approximately $2,828,605.86. This trade represents a 1.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Rachit Lohani sold 658 shares of Paylocity stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total value of $107,142.14. Following the sale, the senior vice president now directly owns 39,764 shares of the company’s stock, 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 44,527 shares of company stock valued at $8,731,875 in the last 90 days. Company insiders own 21.91% of the company’s stock.

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.