Charles Schwab Investment Management Inc. Buys 4,697 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Charles Schwab Investment Management Inc. increased its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 1.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 282,426 shares of the software maker’s stock after purchasing an additional 4,697 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.51% of Paylocity worth $46,592,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PCTY. UMB Bank n.a. increased its holdings in Paylocity by 1,650.0% in the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after buying an additional 165 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Paylocity during the 3rd quarter worth approximately $39,000. Rothschild Investment LLC bought a new position in Paylocity in the second quarter valued at approximately $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 valued at $50,000 after purchasing an additional 167 shares in the last quarter. Finally, Versant Capital Management Inc bought a new stake in Paylocity during the second quarter worth $66,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays lifted their price target on Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. StockNews.com downgraded Paylocity from a “buy” rating to a “hold” rating in a research note on Friday. JMP Securities restated a “market outperform” rating and issued a $250.00 price target on shares of Paylocity in a research note on Monday, August 5th. Needham & Company LLC lifted their price target on shares of Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, BMO Capital Markets increased their price objective on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Paylocity presently has an average rating of “Moderate Buy” and a consensus target price of $196.64.

Paylocity Stock Performance

NASDAQ PCTY opened at $207.54 on Monday. The company has a market capitalization of $11.57 billion, a price-to-earnings ratio of 53.08, a PEG ratio of 5.11 and a beta of 0.93. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $215.68. The stock has a fifty day simple moving average of $183.90 and a 200 day simple moving average of $161.25.

Insider Buying and Selling at Paylocity

In related news, Director Jeffrey T. Diehl sold 4,513 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $209.91, for a total value of $947,323.83. Following the transaction, the director now owns 1,003 shares in the company, valued at $210,539.73. The trade was a 81.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven I. Sarowitz sold 12,226 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $196.29, for a total transaction of $2,399,841.54. Following the sale, the director now directly owns 9,300,847 shares in the company, valued at $1,825,663,257.63. This trade represents a 0.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,790 shares of company stock worth $15,004,635. Insiders own 21.91% of the company’s stock.

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.