Paylocity Holding Co. (NASDAQ:PCTY) Stock Holdings Lessened by Intech Investment Management LLC

Intech Investment Management LLC trimmed its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 65.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,228 shares of the software maker’s stock after selling 6,191 shares during the period. Intech Investment Management LLC’s holdings in Paylocity were worth $533,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PCTY. King Luther Capital Management Corp boosted its stake in shares of Paylocity by 1.7% during the 3rd quarter. King Luther Capital Management Corp now owns 10,149 shares of the software maker’s stock worth $1,674,000 after acquiring an additional 168 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Paylocity in the third quarter valued at $2,176,000. Prospera Private Wealth LLC bought a new position in Paylocity in the third quarter worth $39,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Paylocity during the third quarter worth $2,962,000. Finally, LMR Partners LLP bought a new stake in Paylocity in the 3rd quarter valued at $5,610,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Andrew Cappotelli sold 247 shares of the firm’s stock in a transaction 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 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 trade represents a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rachit Lohani sold 658 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total transaction of $107,142.14. Following the transaction, the senior vice president now owns 39,764 shares in the company, valued at approximately $6,474,772.12. The trade was a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,790 shares of company stock valued at $15,004,635. Company insiders own 21.91% of the company’s stock.

Paylocity Stock Performance

Shares of PCTY opened at $207.54 on Monday. The firm has a market cap of $11.57 billion, a P/E ratio of 53.08, a PEG ratio of 5.11 and a beta of 0.93. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $215.68. The firm’s 50 day moving average price is $183.90 and its two-hundred day moving average price is $161.25. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PCTY shares. Mizuho raised their price target on shares of Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Truist Financial lifted their price target on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 1st. Piper Sandler boosted their price target on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. KeyCorp lifted their price objective on Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Barclays increased their price objective on Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Paylocity presently has an average rating of “Moderate Buy” and an average price target of $196.64.

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.