MML Investors Services LLC Trims Position in Paylocity Holding Co. (NASDAQ:PCTY)

MML Investors Services LLC reduced its position in Paylocity Holding Co. (NASDAQ:PCTY) by 25.3% in the 3rd quarter, Holdings Channel reports. The fund owned 3,364 shares of the software maker’s stock after selling 1,139 shares during the period. MML Investors Services LLC’s holdings in Paylocity were worth $555,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PCTY. CIBC Asset Management Inc lifted its holdings in shares of Paylocity by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker’s stock worth $273,000 after acquiring an additional 58 shares during the period. Chicago Partners Investment Group LLC increased its position in Paylocity by 3.7% during the third quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker’s stock worth $395,000 after purchasing an additional 82 shares during the last quarter. Covestor Ltd raised its stake in Paylocity by 6.4% during the third quarter. Covestor Ltd now owns 1,373 shares of the software maker’s stock worth $227,000 after purchasing an additional 83 shares during the period. King Luther Capital Management Corp boosted its holdings in shares of Paylocity by 1.0% in the 2nd quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker’s stock valued at $1,316,000 after purchasing an additional 103 shares during the last quarter. Finally, SkyOak Wealth LLC grew its stake in shares of Paylocity by 7.1% during the 2nd quarter. SkyOak Wealth LLC now owns 1,837 shares of the software maker’s stock valued at $242,000 after buying an additional 122 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $196.83 on Monday. The business has a 50 day moving average price of $195.46 and a two-hundred day moving average price of $166.25. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $215.68. The firm has a market cap of $10.97 billion, a PE ratio of 50.34, a price-to-earnings-growth ratio of 4.93 and a beta of 0.92. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29.

Insider Transactions at Paylocity

In other Paylocity news, Director Jeffrey T. Diehl sold 29,606 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was 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 of the company’s stock, valued at $2,310,445.25. This trade represents a 71.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven I. Sarowitz sold 12,226 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $196.29, for a total value 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 quarter, insiders sold 151,193 shares of company stock valued at $30,460,258. 21.91% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PCTY has been the topic of several research reports. Mizuho increased their target price on Paylocity from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. KeyCorp lifted their price objective on Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. TD Cowen increased their target price 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. Barclays lifted their price target on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, Truist Financial increased their price objective 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. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.71.

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.