Brighton Jones LLC Cuts Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Brighton Jones LLC lowered its position in Paylocity Holding Co. (NASDAQ:PCTY) by 11.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,464 shares of the software maker’s stock after selling 305 shares during the quarter. Brighton Jones LLC’s holdings in Paylocity were worth $491,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PCTY. UMB Bank n.a. increased its position in shares of Paylocity by 1,650.0% during the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after purchasing an additional 165 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Paylocity during the 3rd quarter valued at about $39,000. Signaturefd LLC raised its stake in Paylocity by 121.0% in the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after buying an additional 167 shares during the last quarter. Quarry LP boosted its holdings in Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after acquiring an additional 185 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Paylocity by 43.3% during the fourth quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock worth $77,000 after acquiring an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Stock Performance

PCTY opened at $206.50 on Monday. The company has a market cap of $11.51 billion, a price-to-earnings ratio of 52.81, a PEG ratio of 4.84 and a beta of 0.93. The firm’s fifty day simple moving average is $200.74 and its two-hundred day simple moving average is $177.28. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $215.68.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Citigroup upgraded shares of Paylocity from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $214.00 to $231.00 in a research note on Thursday, January 16th. Barclays raised their price target on shares of Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. BMO Capital Markets upped their price target on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price objective on shares of Paylocity in a research note on Wednesday, January 15th. Finally, Mizuho upped their target price on Paylocity from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Paylocity currently has an average rating of “Moderate Buy” and a consensus price target of $210.64.

Insider Activity at Paylocity

In related news, SVP Andrew Cappotelli sold 247 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $47,742.63. Following the completion of the transaction, the senior vice president now directly owns 14,634 shares of the company’s stock, valued at approximately $2,828,605.86. This represents a 1.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey T. Diehl sold 29,606 shares of Paylocity stock in a transaction 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 sale, the director now directly owns 11,755 shares in the company, valued at approximately $2,310,445.25. This trade represents a 71.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 157,486 shares of company stock valued at $31,751,368. 21.91% of the stock is owned by corporate 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.