Paylocity Holding Co. (NASDAQ:PCTY) Position Lessened by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lessened its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,910 shares of the software maker’s stock after selling 54 shares during the period. Janney Montgomery Scott LLC’s holdings in Paylocity were worth $1,179,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. UMB Bank n.a. boosted its holdings in Paylocity by 1,650.0% during the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after acquiring an additional 165 shares during the period. Prospera Private Wealth LLC bought a new position in shares of Paylocity in the third quarter valued at approximately $39,000. Signaturefd LLC lifted its position in Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after buying an additional 167 shares in the last quarter. Quarry LP raised its position in Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after purchasing an additional 185 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Paylocity by 43.3% in the fourth quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock worth $77,000 after purchasing an additional 116 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

PCTY has been the topic of several analyst reports. Piper Sandler increased their target price on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Barclays lifted their target price on Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. TD Cowen reduced their price target on Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com raised shares of Paylocity from a “hold” rating to a “buy” rating in a report on Saturday, December 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of Paylocity in a research report on Wednesday, January 15th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.86.

Paylocity Stock Up 2.2 %

Shares of NASDAQ PCTY opened at $210.82 on Wednesday. The firm has a market cap of $11.75 billion, a PE ratio of 53.92, a price-to-earnings-growth ratio of 5.03 and a beta of 0.95. The company has a 50 day simple moving average of $201.29 and a 200 day simple moving average of $180.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68.

Insider Activity at Paylocity

In related news, SVP Andrew Cappotelli sold 247 shares of the company’s 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 $47,742.63. Following the transaction, the senior vice president now directly owns 14,634 shares of the company’s stock, valued at approximately $2,828,605.86. This represents a 1.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven I. Sarowitz sold 15,444 shares of Paylocity stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $195.43, for a total transaction of $3,018,220.92. Following the completion of the sale, the director now directly owns 9,272,906 shares of the company’s stock, valued at approximately $1,812,204,019.58. The trade was a 0.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,380 shares of company stock worth $25,830,669 over the last three months. Company insiders own 21.91% of the company’s stock.

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.