Treasurer of the State of North Carolina lifted its position in Paylocity Holding Co. (NASDAQ:PCTY – Free Report) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,555 shares of the software maker’s stock after buying an additional 320 shares during the period. Treasurer of the State of North Carolina’s holdings in Paylocity were worth $3,490,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PCTY. HighTower Advisors LLC lifted its stake in shares of Paylocity by 12.9% in the first quarter. HighTower Advisors LLC now owns 5,798 shares of the software maker’s stock worth $1,172,000 after buying an additional 664 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Paylocity in the first quarter worth approximately $14,007,000. Sei Investments Co. lifted its stake in shares of Paylocity by 1.3% in the first quarter. Sei Investments Co. now owns 66,053 shares of the software maker’s stock worth $13,594,000 after buying an additional 876 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Paylocity during the first quarter valued at approximately $144,000. Finally, Covestor Ltd lifted its position in Paylocity by 88.1% during the first quarter. Covestor Ltd now owns 331 shares of the software maker’s stock valued at $68,000 after purchasing an additional 155 shares during the period. Institutional investors own 74.51% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. Truist Financial lowered their price objective on shares of Paylocity from $285.00 to $250.00 in a research report on Friday, May 5th. Credit Suisse Group restated a “neutral” rating and set a $215.00 price objective on shares of Paylocity in a research report on Friday. BMO Capital Markets increased their price objective on shares of Paylocity from $230.00 to $246.00 and gave the company an “outperform” rating in a research report on Friday. TD Cowen increased their price objective on shares of Paylocity from $253.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Needham & Company LLC restated a “buy” rating and set a $325.00 price objective on shares of Paylocity in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $262.73.
Insider Transactions at Paylocity
In other news, SVP Joshua Scutt sold 3,091 shares of the stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $200.00, for a total value of $618,200.00. Following the completion of the sale, the senior vice president now directly owns 20,784 shares of the company’s stock, valued at $4,156,800. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Joshua Scutt sold 3,091 shares of the stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $200.00, for a total value of $618,200.00. Following the completion of the sale, the senior vice president now directly owns 20,784 shares of the company’s stock, valued at $4,156,800. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven I. Sarowitz sold 72,339 shares of the firm’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $171.31, for a total transaction of $12,392,394.09. Following the transaction, the director now directly owns 10,081,032 shares of the company’s stock, valued at $1,726,981,591.92. The disclosure for this sale can be found here. Insiders sold a total of 131,747 shares of company stock valued at $22,563,277 over the last three months. Corporate insiders own 26.50% of the company’s stock.
Paylocity Price Performance
Shares of NASDAQ PCTY opened at $208.30 on Tuesday. The firm has a fifty day moving average price of $196.67 and a 200-day moving average price of $193.47. The stock has a market cap of $11.63 billion, a PE ratio of 83.32 and a beta of 1.11. Paylocity Holding Co. has a 1 year low of $160.00 and a 1 year high of $274.48.
About Paylocity
Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.
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