Blue Trust Inc. Acquires 182 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Blue Trust Inc. increased its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 27.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 839 shares of the software maker’s stock after purchasing an additional 182 shares during the period. Blue Trust Inc.’s holdings in Paylocity were worth $167,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Fifth Third Bancorp increased its stake in shares of Paylocity by 53.6% in the fourth quarter. Fifth Third Bancorp now owns 4,632 shares of the software maker’s stock worth $924,000 after purchasing an additional 1,617 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Paylocity by 91.9% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 36,315 shares of the software maker’s stock worth $7,244,000 after purchasing an additional 17,391 shares during the last quarter. Dakota Wealth Management bought a new position in Paylocity during the 4th quarter valued at about $203,000. Nisa Investment Advisors LLC grew its stake in Paylocity by 5,742.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker’s stock worth $1,165,000 after buying an additional 5,742 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after buying an additional 72 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Paylocity Price Performance

NASDAQ PCTY opened at $210.82 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $215.68. The business has a 50 day simple moving average of $201.29 and a 200 day simple moving average of $180.34. The stock has a market cap of $11.75 billion, a price-to-earnings ratio of 53.92, a PEG ratio of 5.03 and a beta of 0.95.

Analysts Set New Price Targets

Several equities analysts have issued reports on PCTY shares. StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday, December 7th. Barclays increased their price objective on shares of Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. BMO Capital Markets upped their target price on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Truist Financial raised their price target on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group upped their price objective on Paylocity from $215.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.86.

Insider Transactions at Paylocity

In other news, SVP Andrew Cappotelli sold 247 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total transaction of $47,742.63. Following the completion of the transaction, the senior vice president now directly owns 14,634 shares in the company, valued at $2,828,605.86. This represents a 1.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Nicholas Rost sold 212 shares of Paylocity stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $40,977.48. Following the completion of the sale, the chief accounting officer now directly owns 7,364 shares in the company, valued at approximately $1,423,387.56. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,380 shares of company stock valued at $25,830,669 over the last quarter. 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.