Paylocity Holding Co. (NASDAQ:PCTY) Holdings Trimmed by Wasatch Advisors LP

Wasatch Advisors LP trimmed its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 2.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,505,439 shares of the software maker’s stock after selling 69,442 shares during the quarter. Paylocity accounts for approximately 2.0% of Wasatch Advisors LP’s investment portfolio, making the stock its 7th largest holding. Wasatch Advisors LP owned approximately 4.49% of Paylocity worth $413,322,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. UMB Bank n.a. grew its stake in Paylocity by 1,650.0% in the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after purchasing an additional 165 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of Paylocity during the 3rd quarter worth $39,000. Rothschild Investment LLC purchased a new position in shares of Paylocity during the second quarter valued at $40,000. Signaturefd LLC raised its holdings in shares of Paylocity by 121.0% in the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after acquiring an additional 167 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in Paylocity by 46.6% in the first quarter. Advisors Asset Management Inc. now owns 428 shares of the software maker’s stock worth $74,000 after acquiring an additional 136 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PCTY. Needham & Company LLC raised their target price on shares of Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. BMO Capital Markets lifted their price objective on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Barclays upped 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. KeyCorp increased their target price on Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Piper Sandler boosted their price target on Paylocity from $172.00 to $212.00 and gave the stock 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $196.64.

Paylocity Price Performance

NASDAQ PCTY opened at $207.54 on Friday. The company has a market cap of $11.57 billion, a price-to-earnings ratio of 53.08, a PEG ratio of 5.17 and a beta of 0.93. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. The stock’s fifty day moving average price is $183.90 and its 200 day moving average price is $161.38. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68.

Insider Activity

In related news, CAO Nicholas Rost sold 212 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $40,977.48. Following the transaction, the chief accounting officer now owns 7,364 shares in the company, valued at approximately $1,423,387.56. This represents a 2.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey T. Diehl sold 29,606 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $196.55, for a total transaction of $5,819,059.30. Following the transaction, 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 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. Company 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.