Chicago Partners Investment Group LLC Cuts Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Chicago Partners Investment Group LLC lessened its position in Paylocity Holding Co. (NASDAQ:PCTY) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,192 shares of the software maker’s stock after selling 90 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Paylocity were worth $426,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PCTY. UMB Bank n.a. raised its holdings in shares of Paylocity by 1,650.0% in the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after buying an additional 165 shares during the period. Prospera Private Wealth LLC acquired a new position in Paylocity during the 3rd quarter worth $39,000. Signaturefd LLC grew its stake in Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after purchasing an additional 167 shares in the last quarter. Quarry LP grew its stake in Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after purchasing an additional 185 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Paylocity by 43.3% during the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock worth $77,000 after purchasing an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PCTY shares. Barclays upped their price objective on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. StockNews.com raised Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday, December 7th. Truist Financial upped their target price on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group upped their target price on Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Mizuho raised Paylocity from a “neutral” rating to an “outperform” rating and upped 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 issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $213.86.

Insider Transactions at Paylocity

In related news, SVP Andrew Cappotelli sold 247 shares of Paylocity stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total transaction 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. The trade was a 1.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Steven I. Sarowitz sold 12,226 shares of Paylocity stock in a transaction on Monday, November 18th. The stock was sold at an average price of $196.29, for a total value of $2,399,841.54. Following the transaction, the director now directly owns 9,300,847 shares of the company’s stock, valued at approximately $1,825,663,257.63. This represents a 0.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 127,880 shares of company stock valued at $25,932,309. Corporate insiders own 21.91% of the company’s stock.

Paylocity Stock Performance

Shares of PCTY stock opened at $206.38 on Tuesday. The company has a market cap of $11.51 billion, a price-to-earnings ratio of 52.78, a price-to-earnings-growth ratio of 5.03 and a beta of 0.95. The stock has a 50 day simple moving average of $201.39 and a 200-day simple moving average of $179.40. 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.

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.