Blueshift Asset Management LLC Grows Position in Paylocity Holding Co. (NASDAQ:PCTY)

Blueshift Asset Management LLC grew its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 221.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,028 shares of the software maker’s stock after purchasing an additional 3,462 shares during the quarter. Blueshift Asset Management LLC’s holdings in Paylocity were worth $829,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. UMB Bank n.a. grew its holdings in Paylocity by 1,650.0% in the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after purchasing an additional 165 shares during the period. Prospera Private Wealth LLC acquired a new stake in Paylocity in the 3rd quarter valued at $39,000. Rothschild Investment LLC purchased a new stake in Paylocity in the 2nd quarter worth $40,000. Signaturefd LLC raised its position in Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after acquiring an additional 167 shares during the period. Finally, Versant Capital Management Inc purchased a new position in Paylocity during the second quarter valued at $66,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Paylocity news, Director Jeffrey T. Diehl sold 946 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $204.74, for a total transaction of $193,684.04. Following the sale, the director now directly owns 1,767 shares in the company, valued at $361,775.58. This represents a 34.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Rachit Lohani sold 658 shares of the business’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 owns 39,764 shares of the company’s stock, valued at approximately $6,474,772.12. This trade represents a 1.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,277 shares of company stock valued at $14,057,311. Corporate insiders own 21.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PCTY. BMO Capital Markets boosted their target price on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. KeyCorp increased their price objective on shares of Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Barclays boosted their target price on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $250.00 price target on shares of Paylocity in a report on Monday, August 5th. Finally, BTIG Research reduced their price objective on Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.64.

Paylocity Stock Down 0.9 %

NASDAQ:PCTY opened at $209.87 on Thursday. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week 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’s fifty day moving average is $182.07 and its two-hundred day moving average is $160.76. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 53.68, a price-to-earnings-growth ratio of 5.17 and a beta of 0.93.

About Paylocity

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.