Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by abrdn plc

abrdn plc lowered its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 15.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,442 shares of the software maker’s stock after selling 818 shares during the quarter. abrdn plc’s holdings in Paylocity were worth $733,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PCTY. Price T Rowe Associates Inc. MD lifted its stake in shares of Paylocity by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock valued at $1,518,176,000 after purchasing an additional 278,607 shares in the last quarter. Capital Research Global Investors acquired a new stake in Paylocity in the first quarter valued at $46,902,000. Millennium Management LLC grew its stake in Paylocity by 435.2% in the second quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock worth $43,676,000 after purchasing an additional 269,354 shares in the last quarter. Liontrust Investment Partners LLP increased its holdings in shares of Paylocity by 27.1% in the 2nd quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock valued at $106,840,000 after acquiring an additional 172,807 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Paylocity by 1,662.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 181,920 shares of the software maker’s stock valued at $23,986,000 after buying an additional 171,597 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Paylocity Stock Performance

NASDAQ PCTY opened at $191.35 on Tuesday. The stock has a market cap of $10.67 billion, a P/E ratio of 48.94, a PEG ratio of 4.46 and a beta of 0.93. The company has a quick ratio of 1.13, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $193.01. The company’s 50-day simple moving average is $166.28 and its 200 day simple moving average is $155.30.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PCTY shares. JMP Securities restated a “market outperform” rating and issued a $250.00 price target on shares of Paylocity in a research note on Monday, August 5th. KeyCorp raised their target price on shares of Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. BMO Capital Markets raised their target price on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Truist Financial upped their price target on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Friday. Finally, Mizuho increased their target price on shares of Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Monday. Four 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $194.20.

Insider Buying and Selling

In other news, SVP Rachit Lohani sold 658 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total value of $107,142.14. Following the sale, the senior vice president now owns 39,764 shares in the company, valued at approximately $6,474,772.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 21.91% of the stock is owned by corporate insiders.

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.