Paylocity Holding Co. (NASDAQ:PCTY) Short Interest Update

Paylocity Holding Co. (NASDAQ:PCTY) was the recipient of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 1,120,000 shares, a decrease of 22.2% from the October 15th total of 1,440,000 shares. Based on an average trading volume of 450,800 shares, the short-interest ratio is presently 2.5 days. Approximately 2.6% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. BMO Capital Markets upped their price objective on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Barclays increased their price target on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Mizuho increased their price target on Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. KeyCorp increased their price target on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Piper Sandler increased their price target on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $196.64.

Paylocity Trading Down 3.8 %

NASDAQ:PCTY traded down $7.71 during midday trading on Friday, hitting $197.79. The stock had a trading volume of 548,667 shares, compared to its average volume of 502,719. 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 company has a market capitalization of $11.03 billion, a price-to-earnings ratio of 50.59, a PEG ratio of 5.31 and a beta of 0.93. The stock has a 50-day moving average of $174.03 and a 200 day moving average of $158.20. Paylocity has a one year low of $129.94 and a one year high of $215.68.

Insider Transactions at Paylocity

In other Paylocity news, Director Jeffrey T. Diehl sold 29,606 shares of the company’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 sale, the director now directly owns 11,755 shares in the company, 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 at this link. Also, SVP Rachit Lohani sold 658 shares of the company’s 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 sale, the senior vice president now owns 39,764 shares in the company, valued at approximately $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 a total of 30,896 shares of company stock valued at $6,049,629 over the last 90 days. Company insiders own 21.91% of the company’s stock.

Institutional Trading of Paylocity

Several hedge funds and other institutional investors have recently bought and sold shares of PCTY. UMB Bank n.a. lifted its holdings in shares of Paylocity by 1,650.0% during the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after purchasing an additional 165 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Paylocity in the 3rd quarter worth $39,000. Rothschild Investment LLC purchased a new position in shares of Paylocity during the 2nd quarter valued at about $40,000. Signaturefd LLC raised its stake in shares of Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after buying an additional 167 shares during the last quarter. Finally, Quarry LP raised its stake in shares of Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after buying an additional 185 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

About Paylocity

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.