JPMorgan Chase & Co. Has $141.30 Million Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

JPMorgan Chase & Co. grew its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 81.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 856,536 shares of the software maker’s stock after purchasing an additional 385,625 shares during the quarter. JPMorgan Chase & Co. owned about 1.54% of Paylocity worth $141,303,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lord Abbett & CO. LLC increased its stake in shares of Paylocity by 3.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 287,264 shares of the software maker’s stock worth $47,389,000 after purchasing an additional 8,878 shares during the last quarter. Tidal Investments LLC increased its position in Paylocity by 207.0% during the third quarter. Tidal Investments LLC now owns 8,836 shares of the software maker’s stock worth $1,458,000 after buying an additional 5,958 shares during the last quarter. Coldstream Capital Management Inc. bought a new stake in Paylocity in the third quarter valued at approximately $239,000. Geode Capital Management LLC lifted its position in shares of Paylocity by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock valued at $173,053,000 after buying an additional 36,590 shares during the last quarter. Finally, Vestcor Inc boosted its stake in shares of Paylocity by 943.8% during the 3rd quarter. Vestcor Inc now owns 10,000 shares of the software maker’s stock worth $1,650,000 after acquiring an additional 9,042 shares during the period. Institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on PCTY shares. Barclays raised their price target on Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Jefferies Financial Group lifted their target price on shares of Paylocity from $215.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, December 9th. KeyCorp increased their price target on shares of Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Truist Financial boosted their price objective on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Needham & Company LLC increased their target price on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.71.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $199.47 on Wednesday. The firm has a 50 day moving average of $199.52 and a 200-day moving average of $169.22. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $215.68. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $11.12 billion, a PE ratio of 51.02, a PEG ratio of 4.93 and a beta of 0.92.

Insider Buying and Selling at Paylocity

In other news, SVP Andrew Cappotelli sold 247 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $47,742.63. Following the sale, the senior vice president now directly owns 14,634 shares in the company, valued at approximately $2,828,605.86. This trade represents a 1.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Nicholas Rost sold 212 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 $40,977.48. Following the transaction, the chief accounting officer now owns 7,364 shares of the company’s stock, valued at approximately $1,423,387.56. This represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 154,886 shares of company stock worth $31,231,004 over the last three months. Corporate 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.