BNP Paribas Financial Markets Sells 20,855 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

BNP Paribas Financial Markets lessened its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 73.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,671 shares of the software maker’s stock after selling 20,855 shares during the quarter. BNP Paribas Financial Markets’ holdings in Paylocity were worth $1,265,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. CIBC Asset Management Inc grew its position in Paylocity by 3.6% during the third quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker’s stock valued at $273,000 after buying an additional 58 shares during the period. Chicago Partners Investment Group LLC boosted its stake in Paylocity by 3.7% in the third quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker’s stock valued at $395,000 after acquiring an additional 82 shares during the last quarter. Covestor Ltd grew its position in shares of Paylocity by 6.4% during the 3rd quarter. Covestor Ltd now owns 1,373 shares of the software maker’s stock valued at $227,000 after acquiring an additional 83 shares during the period. King Luther Capital Management Corp increased its stake in shares of Paylocity by 1.0% during the 2nd quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker’s stock worth $1,316,000 after purchasing an additional 103 shares during the last quarter. Finally, SkyOak Wealth LLC raised its holdings in shares of Paylocity by 7.1% in the 2nd quarter. SkyOak Wealth LLC now owns 1,837 shares of the software maker’s stock worth $242,000 after purchasing an additional 122 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Activity at Paylocity

In other Paylocity news, Director Jeffrey T. Diehl sold 29,606 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $196.55, for a total transaction 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 approximately $2,310,445.25. This represents a 71.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Nicholas Rost sold 212 shares of the company’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 $40,977.48. Following the transaction, the chief accounting officer now directly owns 7,364 shares in the company, valued at approximately $1,423,387.56. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,327 shares of company stock worth $20,340,311 over the last three months. 21.91% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PCTY has been the subject of several research reports. Truist Financial increased their price target on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. KeyCorp increased their target price on shares of Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. 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. Piper Sandler raised their price objective on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group boosted their target price on shares of Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.29.

Paylocity Trading Down 1.1 %

Shares of NASDAQ PCTY opened at $203.61 on Tuesday. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $215.68. 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 $11.35 billion, a price-to-earnings ratio of 52.07, a PEG ratio of 5.07 and a beta of 0.92. The business’s 50 day moving average price is $189.09 and its 200-day moving average price is $162.77.

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.