Zions Bancorporation N.A. Acquires 1,487 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Zions Bancorporation N.A. grew its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 17.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,025 shares of the software maker’s stock after acquiring an additional 1,487 shares during the quarter. Zions Bancorporation N.A.’s holdings in Paylocity were worth $1,654,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Victory Capital Management Inc. increased its holdings in shares of Paylocity by 297.6% in the third quarter. Victory Capital Management Inc. now owns 119,560 shares of the software maker’s stock worth $19,724,000 after acquiring an additional 89,487 shares in the last quarter. WCM Investment Management LLC grew its holdings in shares of Paylocity by 32.6% during the third quarter. WCM Investment Management LLC now owns 5,313 shares of the software maker’s stock worth $857,000 after buying an additional 1,306 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Paylocity by 45.1% during the third quarter. Venturi Wealth Management LLC now owns 544 shares of the software maker’s stock worth $90,000 after buying an additional 169 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Paylocity by 14.6% during the third quarter. Crossmark Global Holdings Inc. now owns 3,367 shares of the software maker’s stock worth $556,000 after buying an additional 428 shares in the last quarter. Finally, Covestor Ltd grew its holdings in shares of Paylocity by 6.4% during the third quarter. Covestor Ltd now owns 1,373 shares of the software maker’s stock worth $227,000 after buying an additional 83 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PCTY has been the subject of a number of research reports. BTIG Research decreased their price objective on Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Needham & Company LLC increased their price objective on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. StockNews.com downgraded Paylocity from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Piper Sandler increased their price objective on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, JMP Securities reissued a “market outperform” rating and set a $250.00 price target on shares of Paylocity in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $196.64.

Paylocity Stock Performance

PCTY opened at $205.50 on Friday. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $215.68. The stock has a market cap of $11.46 billion, a price-to-earnings ratio of 52.56, a PEG ratio of 5.31 and a beta of 0.93. The business has a 50 day moving average of $173.03 and a 200-day moving average of $157.87. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29.

Insider Activity

In related news, CFO Ryan Glenn sold 500 shares of Paylocity stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $203.28, for a total transaction of $101,640.00. Following the completion of the sale, the chief financial officer now directly owns 52,134 shares of the company’s stock, valued at approximately $10,597,799.52. This trade represents a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffrey T. Diehl sold 29,606 shares of Paylocity 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 sale, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $2,310,445.25. The trade was a 71.58 % 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 three months. 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.