Quest Partners LLC Has $828,000 Position in Paylocity Holding Co. (NASDAQ:PCTY)

Quest Partners LLC trimmed its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 23.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,022 shares of the software maker’s stock after selling 1,568 shares during the quarter. Quest Partners LLC’s holdings in Paylocity were worth $828,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Seven Eight Capital LP bought a new position in shares of Paylocity in the 1st quarter valued at $348,000. UniSuper Management Pty Ltd increased its holdings in Paylocity by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 600 shares of the software maker’s stock worth $103,000 after purchasing an additional 300 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in Paylocity by 13.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 60,997 shares of the software maker’s stock valued at $10,484,000 after purchasing an additional 7,144 shares during the last quarter. Shell Asset Management Co. boosted its stake in shares of Paylocity by 67.0% during the first quarter. Shell Asset Management Co. now owns 2,732 shares of the software maker’s stock valued at $470,000 after purchasing an additional 1,096 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of Paylocity by 46.6% during the first quarter. Advisors Asset Management Inc. now owns 428 shares of the software maker’s stock worth $74,000 after purchasing an additional 136 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Trading Up 3.3 %

NASDAQ:PCTY 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 cap of $11.25 billion, a price-to-earnings ratio of 51.60, a price-to-earnings-growth ratio of 4.89 and a beta of 0.93. The firm has a 50-day moving average price of $177.18 and a two-hundred day moving average price of $159.34. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32.

Insider Transactions at Paylocity

In related news, SVP Rachit Lohani sold 658 shares of the stock in a transaction dated 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 in the company, valued at $6,474,772.12. This trade represents a 1.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey T. Diehl sold 29,606 shares of Paylocity 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 transaction, the director now owns 11,755 shares of the company’s stock, valued at $2,310,445.25. The trade was a 71.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,527 shares of company stock worth $8,731,875. Company insiders own 21.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Needham & Company LLC lifted their target price on shares of Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Piper Sandler lifted their price target on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. BTIG Research decreased their price objective on 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 lifted their target price on Paylocity from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, BMO Capital Markets increased their price target on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Paylocity currently has a consensus rating of “Moderate Buy” and a consensus price target of $196.64.

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.