Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 65.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,228 shares of the software maker’s stock after selling 6,191 shares during the period. Intech Investment Management LLC’s holdings in Paylocity were worth $533,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PCTY. UMB Bank n.a. raised its stake 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 acquiring an additional 165 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in Paylocity during the 3rd quarter worth about $39,000. Rothschild Investment LLC acquired a new position in shares of Paylocity during the 2nd quarter worth about $40,000. Signaturefd LLC increased its stake in Paylocity by 121.0% in 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 during the last quarter. Finally, Versant Capital Management Inc acquired a new position in Paylocity in the second quarter valued at $66,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Transactions at Paylocity

In other Paylocity news, Director Jeffrey T. Diehl sold 4,513 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $209.91, for a total value of $947,323.83. Following the sale, the director now directly owns 1,003 shares of the company’s stock, valued at $210,539.73. This trade represents a 81.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Nicholas Rost sold 212 shares of Paylocity stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $40,977.48. Following the sale, the chief accounting officer now directly owns 7,364 shares in the company, valued at approximately $1,423,387.56. This trade represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,790 shares of company stock valued at $15,004,635. Insiders own 21.91% of the company’s stock.

Analyst Ratings Changes

PCTY has been the subject of a number of recent research reports. Mizuho increased their price target on shares of Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. KeyCorp raised their price objective on Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Barclays lifted their price objective on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Piper Sandler upped their price objective on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Truist Financial boosted their target price on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $196.64.

Paylocity Price Performance

PCTY stock opened at $207.54 on Monday. The company has a market capitalization of $11.57 billion, a PE ratio of 53.08, a P/E/G ratio of 5.11 and a beta of 0.93. The stock’s 50 day moving average is $183.90 and its two-hundred day moving average is $161.25. 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 52-week low of $129.94 and a 52-week high of $215.68.

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.