Advisors Asset Management Inc. Lowers Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Advisors Asset Management Inc. cut its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 21.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 316 shares of the software maker’s stock after selling 87 shares during the period. Advisors Asset Management Inc.’s holdings in Paylocity were worth $52,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. UMB Bank n.a. boosted its holdings in shares of 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 bought a new position in Paylocity in the third quarter worth approximately $39,000. Rothschild Investment LLC purchased a new stake in Paylocity during the second quarter worth $40,000. Signaturefd LLC boosted its position in Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after acquiring an additional 167 shares in the last quarter. Finally, Versant Capital Management Inc purchased a new position in shares of Paylocity in the 2nd quarter valued at $66,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Truist Financial raised their target price 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. StockNews.com downgraded Paylocity from a “buy” rating to a “hold” rating in a research report on Friday. Needham & Company LLC increased their price objective on Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, KeyCorp boosted their target price on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $196.64.

Paylocity Stock Performance

Shares of NASDAQ PCTY opened at $207.54 on Friday. The company has a 50 day simple moving average of $183.90 and a two-hundred day simple moving average of $161.32. The stock has a market cap of $11.57 billion, a price-to-earnings ratio of 53.08, a PEG ratio of 5.17 and a beta of 0.93. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $215.68.

Insider Buying and Selling

In other news, SVP Andrew Cappotelli sold 247 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total transaction of $47,742.63. Following the sale, the senior vice president now owns 14,634 shares of the company’s stock, valued at $2,828,605.86. This trade represents a 1.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Rachit Lohani sold 658 shares of Paylocity stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total transaction of $107,142.14. Following the transaction, the senior vice president now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,790 shares of company stock valued at $15,004,635 over the last 90 days. Insiders own 21.91% of the company’s stock.

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.