Paylocity Holding Co. (NASDAQ:PCTY) Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC raised its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 5,742.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,842 shares of the software maker’s stock after buying an additional 5,742 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Paylocity were worth $1,165,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Paylocity by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock valued at $173,053,000 after purchasing an additional 36,590 shares during the period. JPMorgan Chase & Co. boosted its holdings in Paylocity by 81.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock valued at $141,303,000 after purchasing an additional 385,625 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Paylocity by 3.5% in the 3rd quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock valued at $85,444,000 after buying an additional 17,560 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Paylocity by 58.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 335,946 shares of the software maker’s stock worth $44,296,000 after buying an additional 123,744 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Paylocity by 435.2% during the 2nd quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock valued at $43,676,000 after buying an additional 269,354 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Andrew Cappotelli sold 247 shares of the company’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 directly owns 14,634 shares in the company, valued at approximately $2,828,605.86. This represents a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Nicholas Rost sold 212 shares of Paylocity stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total transaction of $40,977.48. Following the completion of the transaction, the chief accounting officer now owns 7,364 shares of the company’s stock, valued at $1,423,387.56. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 157,486 shares of company stock worth $31,751,368 in the last quarter. 21.91% of the stock is owned by company insiders.

Paylocity Stock Down 0.7 %

Paylocity stock opened at $205.03 on Tuesday. The firm has a market capitalization of $11.43 billion, a P/E ratio of 52.44, a P/E/G ratio of 4.84 and a beta of 0.93. The stock’s fifty day simple moving average is $200.74 and its 200-day simple moving average is $177.28. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $215.68. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PCTY. KeyCorp raised 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. Piper Sandler raised their price objective on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Mizuho boosted their price objective on shares of Paylocity from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Citigroup raised shares of Paylocity from a “neutral” rating to a “buy” rating and increased their target price for the stock from $214.00 to $231.00 in a research note on Thursday, January 16th. Finally, TD Cowen reduced their price target on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Paylocity has a consensus rating of “Moderate Buy” and an average price target of $210.64.

Paylocity 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.