LMR Partners LLP Purchases Shares of 34,007 Paylocity Holding Co. (NASDAQ:PCTY)

LMR Partners LLP bought a new position in Paylocity Holding Co. (NASDAQ:PCTY) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 34,007 shares of the software maker’s stock, valued at approximately $5,610,000.

Several other hedge funds also recently added to or reduced their stakes in PCTY. Price T Rowe Associates Inc. MD boosted its stake in Paylocity by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock valued at $1,518,176,000 after acquiring an additional 278,607 shares in the last quarter. Capital Research Global Investors acquired a new stake in Paylocity during the first quarter valued at $46,902,000. Millennium Management LLC grew its position in Paylocity by 435.2% during the second quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock valued at $43,676,000 after buying an additional 269,354 shares during the period. Liontrust Investment Partners LLP grew its position in Paylocity by 27.1% during the second quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock valued at $106,840,000 after buying an additional 172,807 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its position in shares of Paylocity by 1,662.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 181,920 shares of the software maker’s stock valued at $23,986,000 after purchasing an additional 171,597 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related 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 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 represents a 71.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ryan Glenn sold 500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $203.28, for a total transaction of $101,640.00. Following the sale, the chief financial officer now directly owns 52,134 shares in the company, valued at $10,597,799.52. This represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,896 shares of company stock worth $6,049,629. 21.91% of the stock is owned by insiders.

Analyst Ratings Changes

PCTY has been the topic of several research analyst reports. BMO Capital Markets lifted their target price on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” 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 stock an “equal weight” rating in a research report on Thursday, October 31st. Jefferies Financial Group lifted their target price on shares of Paylocity from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, Truist Financial lifted their target price on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $196.64.

Paylocity Stock Down 1.1 %

PCTY stock opened at $195.57 on Tuesday. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 50.02, a price-to-earnings-growth ratio of 4.96 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. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $215.68. The company has a fifty day moving average price of $174.91 and a 200 day moving average price of $158.57.

Paylocity 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.