HighTower Advisors LLC Has $751,000 Position in Paylocity Holding Co. (NASDAQ:PCTY)

HighTower Advisors LLC boosted its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 25.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,592 shares of the software maker’s stock after buying an additional 936 shares during the period. HighTower Advisors LLC’s holdings in Paylocity were worth $751,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PCTY. International Assets Investment Management LLC increased its position in shares of Paylocity by 16,397.9% during the third quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock worth $1,279,000 after acquiring an additional 7,707 shares in the last quarter. Edgestream Partners L.P. increased its holdings in Paylocity by 222.3% during the 3rd 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 in the last quarter. Qsemble Capital Management LP purchased a new stake in shares of Paylocity in the second quarter worth approximately $842,000. Quest Partners LLC raised its stake in shares of Paylocity by 82,275.0% in the second quarter. Quest Partners LLC now owns 6,590 shares of the software maker’s stock worth $869,000 after purchasing an additional 6,582 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Paylocity by 21.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 58,087 shares of the software maker’s stock valued at $7,659,000 after purchasing an additional 10,323 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. BMO Capital Markets upped their price target on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Jefferies Financial Group upped their target price on shares of Paylocity from $215.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. StockNews.com raised shares of Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday, December 7th. TD Cowen upped their price objective on shares of Paylocity from $208.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Needham & Company LLC increased their price objective on shares of Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.71.

Insider Transactions at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 10,621 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $200.86, for a total transaction of $2,133,334.06. Following the sale, the director now directly owns 8,365,533 shares of the company’s stock, valued at $1,680,300,958.38. This represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Nicholas Rost sold 212 shares of Paylocity stock in a transaction dated 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. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 139,710 shares of company stock worth $28,124,978. 21.91% of the stock is owned by company insiders.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $194.40 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. The stock has a fifty day simple moving average of $194.15 and a two-hundred day simple moving average of $165.25. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $215.68. The firm has a market cap of $10.84 billion, a price-to-earnings ratio of 49.72, a price-to-earnings-growth ratio of 4.93 and a beta of 0.92.

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.