Barclays PLC decreased its holdings in Paylocity Holding Co. (NASDAQ:PCTY – Free Report) by 4.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,672 shares of the software maker’s stock after selling 2,000 shares during the quarter. Barclays PLC owned 0.08% of Paylocity worth $8,681,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Paylocity by 10.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,721,425 shares of the software maker’s stock valued at $334,405,000 after purchasing an additional 156,945 shares in the last quarter. Invesco Ltd. raised its position in Paylocity by 20.7% in the 1st quarter. Invesco Ltd. now owns 1,382,116 shares of the software maker’s stock valued at $284,399,000 after buying an additional 236,876 shares during the last quarter. State Street Corp lifted its stake in Paylocity by 3.3% during the 3rd quarter. State Street Corp now owns 1,077,759 shares of the software maker’s stock valued at $260,365,000 after acquiring an additional 34,848 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Paylocity by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 682,676 shares of the software maker’s stock worth $132,489,000 after acquiring an additional 24,663 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its stake in shares of Paylocity by 45.7% in the 4th quarter. 1832 Asset Management L.P. now owns 540,300 shares of the software maker’s stock worth $104,959,000 after acquiring an additional 169,500 shares in the last quarter. Institutional investors and hedge funds own 74.51% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on PCTY shares. BMO Capital Markets raised their price target on shares of Paylocity from $230.00 to $246.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Truist Financial dropped their target price on shares of Paylocity from $285.00 to $250.00 in a research report on Friday, May 5th. Robert W. Baird reduced their target price on Paylocity from $311.00 to $280.00 in a report on Friday, May 5th. Mizuho lifted their price target on Paylocity from $200.00 to $225.00 and gave the stock a “neutral” rating in a report on Monday, July 24th. Finally, StockNews.com initiated coverage on Paylocity in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Paylocity currently has an average rating of “Moderate Buy” and an average target price of $260.79.
Insiders Place Their Bets
In other news, SVP Joshua Scutt sold 3,091 shares of Paylocity stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $200.00, for a total value of $618,200.00. Following the completion of the transaction, the senior vice president now directly owns 20,784 shares in the company, valued at $4,156,800. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Joshua Scutt sold 3,091 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 20,784 shares in the company, valued at $4,156,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey T. Diehl sold 6,298 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $184.90, for a total transaction of $1,164,500.20. Following the sale, the director now directly owns 36,122 shares in the company, valued at approximately $6,678,957.80. The disclosure for this sale can be found here. Insiders have sold a total of 131,747 shares of company stock worth $22,563,277 over the last 90 days. Corporate insiders own 26.50% of the company’s stock.
Paylocity Trading Down 3.7 %
Shares of PCTY stock opened at $200.49 on Wednesday. The firm’s 50 day moving average is $197.96 and its 200 day moving average is $193.56. The stock has a market capitalization of $11.21 billion, a P/E ratio of 80.20 and a beta of 1.11. Paylocity Holding Co. has a 12 month low of $160.00 and a 12 month 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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