Charles Schwab Investment Management Inc. Has $46.59 Million Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Charles Schwab Investment Management Inc. raised its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 1.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 282,426 shares of the software maker’s stock after acquiring an additional 4,697 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Paylocity were worth $46,592,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. UMB Bank n.a. increased its position in Paylocity by 1,650.0% in the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after buying an additional 165 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Paylocity during the third quarter valued at approximately $39,000. Rothschild Investment LLC acquired a new position in shares of Paylocity during the second quarter worth approximately $40,000. Signaturefd LLC lifted its holdings in shares of Paylocity by 121.0% in the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after purchasing an additional 167 shares in the last quarter. Finally, Versant Capital Management Inc acquired a new stake in Paylocity in the 2nd quarter valued at $66,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PCTY. Piper Sandler raised their price objective on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and set a $250.00 price target on shares of Paylocity in a research note on Monday, August 5th. BMO Capital Markets raised their target price on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. KeyCorp upped their price target on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Barclays raised their price objective on Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $196.64.

Insider Activity

In other Paylocity news, Director Steven I. Sarowitz sold 15,444 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $195.43, for a total transaction of $3,018,220.92. Following the sale, the director now directly owns 9,272,906 shares of the company’s stock, valued at $1,812,204,019.58. This represents a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey T. Diehl sold 4,513 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $209.91, for a total transaction of $947,323.83. Following the transaction, the director now owns 1,003 shares of the company’s stock, valued at $210,539.73. This represents a 81.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,790 shares of company stock valued at $15,004,635 in the last three months. Company insiders own 21.91% of the company’s stock.

Paylocity Price Performance

PCTY opened at $207.54 on Monday. The firm has a market cap of $11.57 billion, a P/E ratio of 53.08, a PEG ratio of 5.11 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 fifty-two week low of $129.94 and a fifty-two week high of $215.68. The firm has a 50-day moving average of $183.90 and a 200 day moving average of $161.25.

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.