Park Avenue Securities LLC Acquires 2,167 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Park Avenue Securities LLC grew its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 63.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,590 shares of the software maker’s stock after acquiring an additional 2,167 shares during the quarter. Park Avenue Securities LLC’s holdings in Paylocity were worth $1,115,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. CWA Asset Management Group LLC purchased a new position in shares of Paylocity during the 4th quarter valued at about $1,237,000. Everence Capital Management Inc. purchased a new position in shares of Paylocity during the 4th quarter valued at about $231,000. GAMMA Investing LLC raised its holdings in shares of Paylocity by 43.3% during the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock valued at $77,000 after buying an additional 116 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Paylocity by 81.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock valued at $141,303,000 after buying an additional 385,625 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in shares of Paylocity by 3.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 287,264 shares of the software maker’s stock valued at $47,389,000 after buying an additional 8,878 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Paylocity Price Performance

Shares of PCTY stock opened at $197.00 on Tuesday. The firm has a market cap of $10.98 billion, a P/E ratio of 50.38, a P/E/G ratio of 4.69 and a beta of 0.93. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $215.68. The business’s 50 day moving average price is $201.19 and its 200-day moving average price is $175.38. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32.

Insider Transactions at Paylocity

In related news, Director Jeffrey T. Diehl sold 29,606 shares of Paylocity stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $196.55, for a total transaction of $5,819,059.30. Following the sale, the director now directly owns 11,755 shares in the company, valued at $2,310,445.25. The trade was a 71.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 owns 7,364 shares in the company, valued at $1,423,387.56. This represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 157,486 shares of company stock worth $31,751,368. 21.91% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PCTY. Mizuho raised their price objective on Paylocity from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, December 13th. KeyCorp lifted their price target on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. TD Cowen decreased their price target on Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Citigroup raised Paylocity from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $214.00 to $231.00 in a research note on Thursday, January 16th. Finally, Piper Sandler lifted their price target on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $210.64.

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.