Paylocity Holding Co. (NASDAQ:PCTY) Stake Lessened by State Street Corp

State Street Corp decreased its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 10.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,273,646 shares of the software maker’s stock after selling 144,167 shares during the quarter. State Street Corp’s holdings in Paylocity were worth $210,113,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stifel Financial Corp lifted its holdings in shares of Paylocity by 0.6% in the third quarter. Stifel Financial Corp now owns 23,412 shares of the software maker’s stock valued at $3,862,000 after buying an additional 133 shares during the period. Quantinno Capital Management LP lifted its holdings in Paylocity by 62.2% in the 3rd quarter. Quantinno Capital Management LP now owns 29,557 shares of the software maker’s stock valued at $4,876,000 after acquiring an additional 11,340 shares during the last quarter. Quarry LP boosted its position in shares of Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after purchasing an additional 185 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Paylocity by 283.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock worth $51,101,000 after purchasing an additional 229,057 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Paylocity by 3.5% in the 3rd quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock worth $85,444,000 after purchasing an additional 17,560 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Paylocity Trading Up 0.8 %

NASDAQ:PCTY opened at $204.59 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market capitalization of $11.41 billion, a P/E ratio of 52.32, a P/E/G ratio of 5.07 and a beta of 0.92. The stock’s 50 day moving average price is $191.37 and its 200 day moving average price is $163.69. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a report on Saturday, December 7th. Jefferies Financial Group upped their target price on Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a report on Monday. Barclays lifted their price target on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, Truist Financial upped their price objective on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and an average price target of $204.29.

Insider Activity

In related news, Director Jeffrey T. Diehl sold 29,606 shares of the company’s stock in a transaction on 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven I. Sarowitz sold 11,778 shares of Paylocity stock in a transaction on Monday, December 9th. The stock was sold at an average price of $203.44, for a total transaction of $2,396,116.32. Following the completion of the transaction, the director now owns 8,414,936 shares in the company, valued at $1,711,934,579.84. This trade represents a 0.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,400 shares of company stock worth $23,208,807. 21.91% of the stock is owned by corporate insiders.

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.