Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in Paylocity Holding Co. (NASDAQ:PCTY) by 59.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,921 shares of the software maker’s stock after selling 11,630 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Paylocity were worth $1,307,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in PCTY. UMB Bank n.a. raised its holdings in shares of Paylocity by 1,650.0% in the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after purchasing an additional 165 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Paylocity in the third quarter valued at $39,000. Rothschild Investment LLC purchased a new stake in Paylocity during the 2nd quarter worth about $40,000. Signaturefd LLC boosted its position in shares of Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after acquiring an additional 167 shares in the last quarter. Finally, Tompkins Financial Corp acquired a new stake in shares of Paylocity during the 3rd quarter worth about $82,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Buying and Selling at Paylocity

In related news, SVP Rachit Lohani sold 658 shares of Paylocity stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total transaction of $107,142.14. Following the completion of the transaction, the senior vice president now directly owns 39,764 shares of the company’s stock, valued at approximately $6,474,772.12. The trade was a 1.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Nicholas Rost sold 212 shares of the company’s stock in a transaction on 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 $1,423,387.56. This trade represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,427 shares of company stock valued at $18,898,073. 21.91% of the stock is owned by corporate insiders.

Paylocity Stock Down 2.8 %

Shares of NASDAQ:PCTY opened at $203.84 on Friday. The company has a market cap of $11.36 billion, a price-to-earnings ratio of 52.13, a PEG ratio of 5.11 and a beta of 0.92. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $215.68. The firm’s 50-day simple moving average is $187.43 and its 200-day simple moving average is $162.38. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PCTY shares. StockNews.com downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a research report on Friday, November 29th. Mizuho upped their price objective on shares of Paylocity from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. KeyCorp raised their price objective on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Barclays boosted their target price 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 raised their price target on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Paylocity has an average rating of “Moderate Buy” and a consensus target price of $196.64.

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.