Paylocity Holding Co. (NASDAQ:PCTY) Stock Holdings Lessened by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC cut its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 4.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,964 shares of the software maker’s stock after selling 248 shares during the period. Janney Montgomery Scott LLC’s holdings in Paylocity were worth $984,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PCTY. UMB Bank n.a. increased its stake in shares of Paylocity by 1,650.0% in the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after acquiring an additional 165 shares during the last quarter. Rothschild Investment LLC purchased a new stake in shares of Paylocity during the 2nd quarter worth about $40,000. Signaturefd LLC lifted its holdings in shares of Paylocity by 121.0% during the 3rd 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. Versant Capital Management Inc bought a new stake in shares of Paylocity in the 2nd quarter valued at approximately $66,000. Finally, CWM LLC increased its holdings in Paylocity by 103.3% in the second quarter. CWM LLC now owns 557 shares of the software maker’s stock worth $73,000 after buying an additional 283 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Ratings Changes

PCTY has been the subject of several recent research reports. Truist Financial boosted their target price on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. BTIG Research decreased their price objective on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Jefferies Financial Group raised their target price on Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC upped their price target on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Mizuho raised their price objective on Paylocity from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $196.64.

Paylocity Stock Down 3.8 %

Shares of PCTY stock opened at $197.79 on Friday. The stock has a 50 day moving average of $174.91 and a 200-day moving average of $158.48. The firm has a market cap of $11.03 billion, a PE ratio of 50.59, a price-to-earnings-growth ratio of 5.31 and a beta of 0.93. 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 12 month low of $129.94 and a 12 month high of $215.68.

Insider Activity at Paylocity

In related news, CFO Ryan Glenn sold 500 shares of Paylocity stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $203.28, for a total transaction of $101,640.00. Following the sale, the chief financial officer now directly owns 52,134 shares of the company’s stock, valued at $10,597,799.52. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Rachit Lohani sold 658 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total value of $107,142.14. Following the completion of the transaction, the senior vice president now directly owns 39,764 shares of the company’s stock, valued at approximately $6,474,772.12. This trade represents a 1.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,896 shares of company stock worth $6,049,629 in the last ninety days. 21.91% of the stock is currently owned by 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.