Dakota Wealth Management Acquires New Shares in Paylocity Holding Co. (NASDAQ:PCTY)

Dakota Wealth Management acquired a new stake in Paylocity Holding Co. (NASDAQ:PCTY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,017 shares of the software maker’s stock, valued at approximately $203,000.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its stake in Paylocity by 16,397.9% in the 3rd quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock valued at $1,279,000 after purchasing an additional 7,707 shares in the last quarter. Edgestream Partners L.P. grew its holdings in Paylocity by 222.3% during the 3rd quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock valued at $1,788,000 after buying an additional 7,475 shares during the last quarter. Barclays PLC grew its holdings in Paylocity by 14.3% during the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock valued at $7,407,000 after buying an additional 5,609 shares during the last quarter. Millennium Management LLC grew its holdings in Paylocity by 435.2% during the 2nd quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock valued at $43,676,000 after buying an additional 269,354 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Paylocity by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker’s stock valued at $46,592,000 after buying an additional 4,697 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Paylocity

In other Paylocity news, SVP Andrew Cappotelli sold 247 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $47,742.63. Following the transaction, the senior vice president now directly owns 14,634 shares of the company’s stock, valued at $2,828,605.86. This trade represents a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Nicholas Rost sold 212 shares of the firm’s 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. This trade represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 157,486 shares of company stock valued at $31,751,368 over the last three months. 21.91% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $220.00 target price on shares of Paylocity in a report on Wednesday, January 15th. Piper Sandler increased their target price on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Truist Financial raised 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. Barclays raised their price objective on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, Citigroup upgraded Paylocity from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $214.00 to $231.00 in a report on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.64.

Paylocity Trading Up 1.5 %

Shares of PCTY opened at $206.50 on Monday. 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 firm has a market capitalization of $11.51 billion, a P/E ratio of 52.81, a price-to-earnings-growth ratio of 4.84 and a beta of 0.93. The stock’s fifty day simple moving average is $200.74 and its 200 day simple moving average is $177.28. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $215.68.

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.