SG Americas Securities LLC Reduces Position in Paylocity Holding Co. (NASDAQ:PCTY)

SG Americas Securities LLC trimmed its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,871 shares of the software maker’s stock after selling 182 shares during the quarter. SG Americas Securities LLC’s holdings in Paylocity were worth $1,371,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. International Assets Investment Management LLC increased its stake in Paylocity by 16,397.9% in the third quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock worth $1,279,000 after purchasing an additional 7,707 shares during the period. Edgestream Partners L.P. grew its holdings in shares of Paylocity by 222.3% in the third quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock worth $1,788,000 after purchasing an additional 7,475 shares during the last quarter. Barclays PLC increased its stake in Paylocity by 14.3% in the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock worth $7,407,000 after buying an additional 5,609 shares during the period. Millennium Management LLC lifted its holdings in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Paylocity by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker’s stock valued at $46,592,000 after buying an additional 4,697 shares during the period. 94.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Truist Financial raised their target price on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets lifted their target price on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Citigroup raised Paylocity from a “neutral” rating to a “buy” rating and increased their price target for the stock from $214.00 to $231.00 in a research report on Thursday, January 16th. Barclays lifted their price objective on Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $220.00 target price on shares of Paylocity in a report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $210.64.

Paylocity Trading Down 0.7 %

NASDAQ:PCTY opened at $205.03 on Tuesday. The stock has a market capitalization of $11.43 billion, a price-to-earnings ratio of 52.44, a PEG ratio of 4.84 and a beta of 0.93. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average of $200.74 and a 200 day moving average of $177.28.

Insider Transactions at Paylocity

In other news, Director Jeffrey T. Diehl sold 29,606 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $196.55, for a total transaction of $5,819,059.30. Following the transaction, the director now owns 11,755 shares in the company, valued at $2,310,445.25. This represents a 71.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Steven I. Sarowitz sold 12,226 shares of Paylocity stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $196.29, for a total transaction of $2,399,841.54. Following the completion of the sale, the director now owns 9,300,847 shares of the company’s stock, valued at $1,825,663,257.63. This trade represents a 0.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,486 shares of company stock valued at $31,751,368. Corporate insiders own 21.91% of the company’s stock.

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.