Mutual of America Capital Management LLC Decreases Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Mutual of America Capital Management LLC lowered its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 5.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,425 shares of the software maker’s stock after selling 1,454 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Paylocity were worth $3,864,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew 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 buying an additional 278,607 shares during the period. Liontrust Investment Partners LLP grew its holdings in shares of Paylocity by 27.1% in the 2nd quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock worth $106,840,000 after acquiring an additional 172,807 shares during the period. Van Berkom & Associates Inc. increased its stake in Paylocity by 20.5% in the 2nd quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker’s stock valued at $76,447,000 after purchasing an additional 98,478 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Paylocity by 4.7% during the second quarter. Bank of New York Mellon Corp now owns 472,686 shares of the software maker’s stock worth $62,324,000 after purchasing an additional 21,127 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Paylocity by 58.3% in the second quarter. Dimensional Fund Advisors LP now owns 335,946 shares of the software maker’s stock valued at $44,296,000 after purchasing an additional 123,744 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PCTY has been the subject of a number of research reports. Piper Sandler lifted their target price on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a report on Thursday. Needham & Company LLC boosted their price target on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Mizuho boosted their target price on shares of Paylocity from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, BTIG Research reduced their price objective on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $196.64.

Paylocity Price Performance

PCTY stock opened at $201.75 on Friday. The stock has a 50-day simple moving average of $177.18 and a 200-day simple moving average of $159.34. The firm has a market cap 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 debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68.

Insider Buying and Selling at Paylocity

In related news, CAO Nicholas Rost sold 212 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $40,977.48. Following the completion of the transaction, the chief accounting officer now owns 7,364 shares of the company’s stock, valued at approximately $1,423,387.56. This represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Rachit Lohani sold 658 shares of Paylocity stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total value of $107,142.14. Following the sale, the senior vice president now owns 39,764 shares in the company, valued at $6,474,772.12. This represents a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,527 shares of company stock valued at $8,731,875 over the last 90 days. 21.91% of the stock is owned by corporate insiders.

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.