GSA Capital Partners LLP Lowers Stake in Paylocity Holding Co. (NASDAQ:PCTY)

GSA Capital Partners LLP decreased its position in Paylocity Holding Co. (NASDAQ:PCTY) by 68.7% during the 3rd quarter, Holdings Channel reports. The fund owned 2,455 shares of the software maker’s stock after selling 5,382 shares during the quarter. GSA Capital Partners LLP’s holdings in Paylocity were worth $405,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PCTY. Price T Rowe Associates Inc. MD raised its position in Paylocity by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock worth $1,518,176,000 after acquiring an additional 278,607 shares during the last quarter. Capital Research Global Investors purchased a new position in shares of Paylocity in the first quarter valued at $46,902,000. Millennium Management LLC boosted its stake in shares of Paylocity by 435.2% in the second 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. Liontrust Investment Partners LLP increased its holdings in Paylocity by 27.1% in the second quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock valued at $106,840,000 after buying an additional 172,807 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in Paylocity by 1,662.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 181,920 shares of the software maker’s stock worth $23,986,000 after purchasing an additional 171,597 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Price Performance

PCTY stock opened at $201.75 on Friday. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68. The firm has a market capitalization of $11.25 billion, a P/E ratio of 51.60, a price-to-earnings-growth ratio of 4.89 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. The company has a fifty day simple moving average of $177.18 and a two-hundred day simple moving average of $159.34.

Insider Activity

In related news, Director Jeffrey T. Diehl sold 29,606 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $196.55, for a total value of $5,819,059.30. Following the completion of the sale, the director now owns 11,755 shares of the company’s stock, valued at approximately $2,310,445.25. The trade was a 71.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven I. Sarowitz sold 12,226 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $196.29, for a total transaction of $2,399,841.54. Following the completion of the sale, the director now directly owns 9,300,847 shares of the company’s stock, valued at approximately $1,825,663,257.63. The trade was a 0.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,527 shares of company stock worth $8,731,875. Corporate insiders own 21.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PCTY shares. BMO Capital Markets raised their target price on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Mizuho lifted their target price on Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a report on Thursday. Needham & Company LLC lifted their price target on Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Piper Sandler boosted their price target on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Paylocity presently has a consensus rating of “Moderate Buy” and an average target price 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.