Dynamic Technology Lab Private Ltd Sells 13,176 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Dynamic Technology Lab Private Ltd cut its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 84.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,348 shares of the software maker’s stock after selling 13,176 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Paylocity were worth $387,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Advisors Asset Management Inc. increased its holdings in Paylocity by 46.6% in the 1st quarter. Advisors Asset Management Inc. now owns 428 shares of the software maker’s stock valued at $74,000 after buying an additional 136 shares during the period. Tidal Investments LLC increased its stake in Paylocity by 142.3% in the first quarter. Tidal Investments LLC now owns 3,989 shares of the software maker’s stock valued at $686,000 after acquiring an additional 2,343 shares during the period. Cetera Investment Advisers raised its position in Paylocity by 128.7% in the first quarter. Cetera Investment Advisers now owns 11,783 shares of the software maker’s stock worth $2,025,000 after purchasing an additional 6,630 shares in the last quarter. Cetera Advisors LLC bought a new position in Paylocity during the first quarter worth about $729,000. Finally, First Hawaiian Bank boosted its holdings in Paylocity by 6.6% during the second quarter. First Hawaiian Bank now owns 2,425 shares of the software maker’s stock valued at $320,000 after purchasing an additional 150 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PCTY shares. KeyCorp increased their target price on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Piper Sandler lifted their price objective on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. BMO Capital Markets upped 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 lifted their price target on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Barclays upped their price objective on shares of Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Paylocity presently has an average rating of “Moderate Buy” and an average target price of $196.64.

Paylocity Stock Down 1.1 %

NASDAQ PCTY opened at $207.54 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68. The stock has a market capitalization of $11.57 billion, a P/E ratio of 53.08, a price-to-earnings-growth ratio of 5.17 and a beta of 0.93. The stock has a fifty day moving average of $183.90 and a 200-day moving average of $161.32.

Insider Buying and Selling

In related news, Director Jeffrey T. Diehl sold 4,513 shares of Paylocity stock in a transaction on Monday, November 25th. The stock was sold at an average price of $209.91, for a total transaction of $947,323.83. Following the completion of the sale, the director now directly owns 1,003 shares of the company’s stock, valued at $210,539.73. The trade was a 81.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Nicholas Rost sold 212 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 7,364 shares in the company, 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. Insiders sold a total of 75,790 shares of company stock worth $15,004,635 over the last three months. 21.91% of the stock is currently owned by company insiders.

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.