Quantbot Technologies LP Has $779,000 Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Quantbot Technologies LP lessened its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 83.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,722 shares of the software maker’s stock after selling 24,171 shares during the quarter. Quantbot Technologies LP’s holdings in Paylocity were worth $779,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Tidal Investments LLC increased its holdings in Paylocity by 142.3% in the 1st quarter. Tidal Investments LLC now owns 3,989 shares of the software maker’s stock worth $686,000 after purchasing an additional 2,343 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Paylocity by 128.7% in the first quarter. Cetera Investment Advisers now owns 11,783 shares of the software maker’s stock valued at $2,025,000 after buying an additional 6,630 shares during the period. Cetera Advisors LLC bought a new position in Paylocity in the 1st quarter valued at approximately $729,000. First Hawaiian Bank boosted its position in Paylocity by 6.6% during the 2nd quarter. First Hawaiian Bank now owns 2,425 shares of the software maker’s stock worth $320,000 after buying an additional 150 shares during the period. Finally, DNB Asset Management AS grew its holdings in Paylocity by 2.0% during the 2nd quarter. DNB Asset Management AS now owns 7,683 shares of the software maker’s stock worth $1,013,000 after acquiring an additional 148 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $207.54 on Monday. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $215.68. The stock’s 50 day moving average is $183.90 and its 200-day moving average is $161.25. 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 firm has a market capitalization of $11.57 billion, a price-to-earnings ratio of 53.08, a PEG ratio of 5.11 and a beta of 0.93.

Analyst Ratings Changes

A number of brokerages have recently commented on PCTY. Mizuho lifted their price target on shares of Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Barclays lifted their target price on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Needham & Company LLC increased their price target on Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. BMO Capital Markets lifted their price objective on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Piper Sandler increased their target price 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. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $196.64.

Insider Buying and Selling at Paylocity

In other news, Director Jeffrey T. Diehl sold 29,606 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was 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. This represents 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 this hyperlink. Also, SVP Rachit Lohani sold 658 shares of Paylocity stock in a transaction that occurred on 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 approximately $6,474,772.12. The trade was a 1.63 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,790 shares of company stock valued at $15,004,635. Corporate insiders own 21.91% of the company’s stock.

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.