Paylocity Holding Co. (NASDAQ:PCTY) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. boosted its position in Paylocity Holding Co. (NASDAQ:PCTY) by 283.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 309,761 shares of the software maker’s stock after acquiring an additional 229,057 shares during the quarter. Point72 Asset Management L.P. owned 0.56% of Paylocity worth $51,101,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its stake in shares of Paylocity by 1,650.0% during 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 acquired a new position in shares of Paylocity during the third quarter worth about $39,000. Rothschild Investment LLC acquired a new position in shares of Paylocity during the second quarter worth about $40,000. Signaturefd LLC lifted its stake in shares of Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after purchasing an additional 167 shares in the last quarter. Finally, CWM LLC lifted its stake in shares of Paylocity by 103.3% during the second quarter. CWM LLC now owns 557 shares of the software maker’s stock worth $73,000 after purchasing an additional 283 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Stock Up 1.0 %

NASDAQ:PCTY opened at $209.71 on Thursday. The firm has a market capitalization of $11.69 billion, a PE ratio of 53.63, a price-to-earnings-growth ratio of 5.11 and a beta of 0.92. The stock has a 50 day moving average of $186.61 and a 200-day moving average of $162.09. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Jefferies Financial Group boosted their price objective on Paylocity from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com lowered Paylocity from a “buy” rating to a “hold” rating in a research report on Friday, November 29th. Truist Financial lifted their target price on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets lifted their target price on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC lifted their target price on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $196.64.

Insider Activity

In other news, SVP Rachit Lohani sold 658 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total transaction of $107,142.14. Following the completion of the transaction, the senior vice president now directly owns 39,764 shares in the company, valued at approximately $6,474,772.12. The trade was a 1.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven I. Sarowitz sold 10,237 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $210.10, for a total value of $2,150,793.70. Following the transaction, the director now owns 9,214,115 shares of the company’s stock, valued at approximately $1,935,885,561.50. This represents a 0.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,427 shares of company stock valued at $18,898,073. 21.91% of the stock is currently owned by insiders.

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.