Y.D. More Investments Ltd Increases Position in Paylocity Holding Co. (NASDAQ:PCTY)

Y.D. More Investments Ltd raised its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 10.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,613 shares of the software maker’s stock after purchasing an additional 1,250 shares during the period. Y.D. More Investments Ltd’s holdings in Paylocity were worth $2,715,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new position in shares of Paylocity during the second quarter valued at about $194,000. SG Americas Securities LLC increased its stake in shares of Paylocity by 20.7% in the third quarter. SG Americas Securities LLC now owns 7,053 shares of the software maker’s stock worth $1,164,000 after buying an additional 1,210 shares during the period. Handelsbanken Fonder AB raised its holdings in Paylocity by 24.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 12,551 shares of the software maker’s stock valued at $2,071,000 after buying an additional 2,500 shares during the last quarter. UMB Bank n.a. boosted its position in 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 buying an additional 165 shares during the period. Finally, Creative Planning bought a new stake in Paylocity in the 3rd quarter worth $267,000. Institutional investors own 94.76% of the company’s stock.

Paylocity Trading Up 2.2 %

NASDAQ:PCTY opened at $210.82 on Wednesday. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68. The stock has a market cap of $11.75 billion, a price-to-earnings ratio of 53.92, a PEG ratio of 5.03 and a beta of 0.95. The company’s 50 day moving average price is $201.29 and its 200-day moving average price is $180.34. 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 Buying and Selling at Paylocity

In other news, CAO Nicholas Rost sold 212 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total transaction of $40,977.48. Following the completion of the sale, the chief accounting officer now owns 7,364 shares of the company’s stock, valued at $1,423,387.56. This represents a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey T. Diehl sold 946 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $204.74, for a total transaction of $193,684.04. Following the completion of the transaction, the director now owns 1,767 shares in the company, valued at $361,775.58. The trade was a 34.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,380 shares of company stock worth $25,830,669. Insiders own 21.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on PCTY shares. Barclays upped their price target on Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Mizuho upgraded shares of Paylocity from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $200.00 to $235.00 in a report on Friday, January 31st. Citigroup upgraded shares of Paylocity from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $214.00 to $231.00 in a report on Thursday, January 16th. Piper Sandler boosted their price target on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $220.00 price objective on shares of Paylocity in a report on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $213.86.

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.