BNP Paribas Financial Markets Decreases Position in Paylocity Holding Co. (NASDAQ:PCTY)

BNP Paribas Financial Markets trimmed its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 73.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,671 shares of the software maker’s stock after selling 20,855 shares during the quarter. BNP Paribas Financial Markets’ holdings in Paylocity were worth $1,265,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its position in shares of Paylocity by 1,650.0% during the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after purchasing an additional 165 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Paylocity in the third quarter valued at about $39,000. Rothschild Investment LLC purchased a new stake in Paylocity during the second quarter worth about $40,000. Signaturefd LLC grew its position in Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after buying an additional 167 shares during the period. Finally, CWM LLC increased its holdings in Paylocity by 103.3% in the second quarter. CWM LLC now owns 557 shares of the software maker’s stock valued at $73,000 after buying an additional 283 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on PCTY shares. StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday. Piper Sandler boosted their price target on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Barclays upped their price objective on Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. BMO Capital Markets lifted their price objective on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group upped their target price on shares of Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Paylocity has a consensus rating of “Moderate Buy” and a consensus price target of $204.29.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $203.61 on Tuesday. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $215.68. The stock has a market capitalization of $11.35 billion, a price-to-earnings ratio of 52.07, a PEG ratio of 5.07 and a beta of 0.92. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. The business has a 50-day moving average of $189.09 and a 200-day moving average of $162.77.

Insider Buying and Selling at Paylocity

In related news, SVP Rachit Lohani sold 658 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total transaction of $107,142.14. Following the completion of the sale, the senior vice president now owns 39,764 shares of the company’s stock, valued at $6,474,772.12. This represents a 1.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Andrew Cappotelli sold 247 shares of Paylocity stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $47,742.63. Following the completion of the transaction, the senior vice president now owns 14,634 shares in the company, valued at approximately $2,828,605.86. The trade was a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,327 shares of company stock valued at $20,340,311 in the last quarter. 21.91% of the stock is currently owned by insiders.

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.