Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by State Street Corp

State Street Corp lessened its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTYFree Report) by 10.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,273,646 shares of the software maker’s stock after selling 144,167 shares during the period. State Street Corp owned approximately 2.28% of Paylocity worth $210,113,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. UMB Bank n.a. boosted its stake 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 worth $29,000 after acquiring an additional 165 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in Paylocity during the third quarter worth $39,000. Rothschild Investment LLC acquired a new stake in Paylocity in the 2nd quarter valued at about $40,000. Signaturefd LLC increased its holdings in 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 acquiring an additional 167 shares in the last quarter. Finally, Quarry LP raised its position in Paylocity by 149.2% during the third quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after acquiring an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Transactions at Paylocity

In related news, Director Jeffrey T. Diehl sold 29,606 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $196.55, for a total transaction of $5,819,059.30. Following the completion of the sale, the director now owns 11,755 shares of the company’s stock, valued at $2,310,445.25. This represents a 71.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rachit Lohani sold 658 shares of the firm’s stock in a transaction dated 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 $6,474,772.12. This represents a 1.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 115,400 shares of company stock valued at $23,208,807. Insiders own 21.91% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PCTY. Barclays lifted their price objective on 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 price target on shares of Paylocity from $215.00 to $240.00 and gave the stock a “buy” rating in a report on Monday. Mizuho upped their price objective on shares of Paylocity from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. TD Cowen upped their target price on Paylocity from $208.00 to $235.00 and gave the company a “buy” rating in a research note on Monday. Finally, StockNews.com raised shares of Paylocity from a “hold” rating to a “buy” rating in a research note on Saturday, December 7th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $204.29.

Read Our Latest Research Report on PCTY

Paylocity Stock Up 0.8 %

Shares of NASDAQ:PCTY opened at $204.59 on Friday. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month 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. The firm has a market cap of $11.41 billion, a PE ratio of 52.32, a price-to-earnings-growth ratio of 5.07 and a beta of 0.92. The company has a fifty day simple moving average of $191.37 and a 200 day simple moving average of $163.69.

Paylocity Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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