Washington Capital Management Inc. Trims Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Washington Capital Management Inc. lowered its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 30.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,985 shares of the software maker’s stock after selling 1,715 shares during the period. Washington Capital Management Inc.’s holdings in Paylocity were worth $795,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC increased its position in Paylocity by 16,397.9% during 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 buying an additional 7,707 shares in the last quarter. Edgestream Partners L.P. grew its position in Paylocity by 222.3% during the third 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 period. Barclays PLC lifted its position in Paylocity by 14.3% during the third quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock valued at $7,407,000 after purchasing an additional 5,609 shares in the last quarter. Millennium Management LLC raised its position in shares of 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 purchasing an additional 269,354 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Paylocity by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker’s stock valued at $46,592,000 after acquiring an additional 4,697 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Nicholas Rost sold 212 shares of Paylocity stock in a transaction dated Tuesday, November 19th. The shares were 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 $1,423,387.56. The trade was a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven I. Sarowitz sold 10,237 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $210.10, for a total transaction of $2,150,793.70. Following the sale, the director now directly owns 9,214,115 shares of the company’s stock, valued at approximately $1,935,885,561.50. This represents a 0.11 % 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 worth $31,751,368 in the last quarter. 21.91% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PCTY has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 target price on shares of Paylocity in a research report on Wednesday, January 15th. Piper Sandler boosted their price objective on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. 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 research note on Friday, November 1st. BMO Capital Markets upped their price objective on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group raised their price objective on Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $210.64.

Paylocity Stock Down 3.0 %

PCTY opened at $203.45 on Thursday. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68. The firm has a 50 day moving average price of $201.39 and a 200 day moving average price of $178.43. The company has a market cap of $11.34 billion, a PE ratio of 52.03, a price-to-earnings-growth ratio of 4.84 and a beta of 0.93. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32.

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.