Paylocity Holding Co. (NASDAQ:PCTY) Position Boosted by King Luther Capital Management Corp

King Luther Capital Management Corp raised its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,149 shares of the software maker’s stock after acquiring an additional 168 shares during the period. King Luther Capital Management Corp’s holdings in Paylocity were worth $1,674,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its stake in shares of Paylocity by 16,397.9% during the third quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock valued at $1,279,000 after purchasing an additional 7,707 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of Paylocity in the 1st quarter worth approximately $729,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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. Plato Investment Management Ltd increased its stake in shares of Paylocity by 4,853.3% during the first quarter. Plato Investment Management Ltd now owns 3,715 shares of the software maker’s stock valued at $638,000 after acquiring an additional 3,640 shares during the period. Finally, Cetera Investment Advisers raised its holdings in Paylocity by 128.7% during the first quarter. Cetera Investment Advisers now owns 11,783 shares of the software maker’s stock worth $2,025,000 after purchasing an additional 6,630 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Piper Sandler lifted their price target on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. StockNews.com upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a research report on Thursday. Mizuho lifted their price objective on shares of Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Barclays increased their target price on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Finally, KeyCorp lifted their price target on shares of Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and an average target price of $196.64.

Insider Buying and Selling

In other Paylocity news, CAO Nicholas Rost sold 212 shares of Paylocity stock in a transaction on 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 trade represents a 2.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Rachit Lohani sold 658 shares of the company’s stock in a transaction 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 $6,474,772.12. This trade represents a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,971 shares of company stock valued at $11,750,096. Corporate insiders own 21.91% of the company’s stock.

Paylocity Stock Performance

Shares of Paylocity stock opened at $205.28 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 quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. The stock has a market cap of $11.44 billion, a PE ratio of 52.50, a price-to-earnings-growth ratio of 4.89 and a beta of 0.93. The business has a fifty day simple moving average of $178.10 and a 200-day simple moving average of $159.63.

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.