Pacer Advisors Inc. Increases Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Pacer Advisors Inc. boosted its position in Paylocity Holding Co. (NASDAQ:PCTY) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,484 shares of the software maker’s stock after buying an additional 189 shares during the period. Pacer Advisors Inc.’s holdings in Paylocity were worth $1,293,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. International Assets Investment Management LLC boosted its holdings in shares of 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 acquiring an additional 7,707 shares during the last quarter. Edgestream Partners L.P. boosted its holdings in Paylocity by 222.3% in the third quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock valued at $1,788,000 after purchasing an additional 7,475 shares during the last quarter. Barclays PLC grew its position in Paylocity by 14.3% during the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock worth $7,407,000 after purchasing an additional 5,609 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of 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. Finally, OneDigital Investment Advisors LLC acquired a new position in shares of Paylocity in the 3rd quarter valued at about $213,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

PCTY has been the subject of a number of analyst reports. TD Cowen decreased their price target on Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a report on Monday, January 6th. Jefferies Financial Group lifted their target price on shares of Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a report on Monday, December 9th. KeyCorp raised their price target on shares of Paylocity from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price objective on shares of Paylocity in a research report on Wednesday, January 15th. Finally, Mizuho upgraded Paylocity from a “neutral” rating to an “outperform” rating and raised their target price for the company from $200.00 to $235.00 in a research report on Friday. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $213.86.

Insiders Place Their Bets

In related news, SVP Andrew Cappotelli sold 247 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 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 $2,828,605.86. This represents a 1.66 % decrease in their ownership of the stock. The sale 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 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 sale, the chief accounting officer now directly owns 7,364 shares in the company, valued at approximately $1,423,387.56. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 157,486 shares of company stock worth $31,751,368 in the last quarter. 21.91% of the stock is owned by company insiders.

Paylocity Stock Up 2.0 %

Shares of NASDAQ:PCTY opened at $205.52 on Monday. The firm has a market capitalization of $11.46 billion, a PE ratio of 52.56, a price-to-earnings-growth ratio of 4.98 and a beta of 0.93. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. The firm’s 50-day moving average is $201.39 and its two-hundred day moving average is $179.40.

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.