HighTower Advisors LLC Boosts Position in Paylocity Holding Co. (NASDAQ:PCTY)

HighTower Advisors LLC lifted its position in Paylocity Holding Co. (NASDAQ:PCTY) by 25.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,592 shares of the software maker’s stock after buying an additional 936 shares during the quarter. HighTower Advisors LLC’s holdings in Paylocity were worth $751,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. UMB Bank n.a. increased its holdings in Paylocity by 1,650.0% during the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after acquiring an additional 165 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of Paylocity during the 3rd quarter valued at $39,000. Rothschild Investment LLC bought a new position in shares of Paylocity in the second quarter worth $40,000. Signaturefd LLC raised its position in shares of Paylocity by 121.0% in the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after buying an additional 167 shares in the last quarter. Finally, Tompkins Financial Corp bought a new stake in Paylocity during the third quarter valued at $82,000. 94.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PCTY shares. StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a research note on Saturday, December 7th. Barclays upped their price objective on shares of Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Piper Sandler lifted 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. Needham & Company LLC increased their price target on shares of Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, TD Cowen lifted their price objective on shares of Paylocity from $208.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, December 9th. 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.com, Paylocity has an average rating of “Moderate Buy” and a consensus price target of $205.71.

Insider Transactions at Paylocity

In other Paylocity news, SVP Rachit Lohani sold 658 shares of Paylocity stock in a transaction that occurred on Wednesday, October 2nd. The stock was 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 of the company’s stock, valued at $6,474,772.12. The trade was a 1.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey T. Diehl sold 29,606 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $2,310,445.25. This trade represents a 71.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 139,710 shares of company stock worth $28,124,978. Company insiders own 21.91% of the company’s stock.

Paylocity Stock Performance

Paylocity stock opened at $194.40 on Thursday. The firm has a fifty day simple moving average of $194.15 and a two-hundred day simple moving average of $165.25. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $215.68. The company has a market capitalization of $10.84 billion, a PE ratio of 49.72, a P/E/G ratio of 4.93 and a beta of 0.92.

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.