Brighton Jones LLC Sells 305 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Brighton Jones LLC cut its position in Paylocity Holding Co. (NASDAQ:PCTY) by 11.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,464 shares of the software maker’s stock after selling 305 shares during the period. Brighton Jones LLC’s holdings in Paylocity were worth $491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in Paylocity by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock valued at $173,053,000 after buying an additional 36,590 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Paylocity by 81.9% during the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock worth $141,303,000 after acquiring an additional 385,625 shares during the last quarter. Janus Henderson Group PLC grew its stake in Paylocity by 3.5% during the third quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock valued at $85,444,000 after acquiring an additional 17,560 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Paylocity by 58.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 335,946 shares of the software maker’s stock valued at $44,296,000 after acquiring an additional 123,744 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Paylocity by 435.2% in the 2nd quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock worth $43,676,000 after purchasing an additional 269,354 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

Paylocity Price Performance

PCTY opened at $206.50 on Monday. 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 business has a fifty day moving average of $200.74 and a 200 day moving average of $177.28. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $215.68. The stock has a market cap of $11.51 billion, a P/E ratio of 52.81, a PEG ratio of 4.84 and a beta of 0.93.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PCTY shares. KeyCorp lifted their target price on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. StockNews.com raised Paylocity from a “hold” rating to a “buy” rating in a research note on Saturday, December 7th. Piper Sandler increased their target price on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Mizuho boosted their price target on shares of Paylocity from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Finally, Truist Financial increased their price objective on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $210.64.

Insider Activity

In other Paylocity news, Director Jeffrey T. Diehl sold 29,606 shares of the business’s stock in a transaction dated 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven I. Sarowitz sold 12,226 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 9,300,847 shares in the company, valued at approximately $1,825,663,257.63. This trade represents a 0.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,486 shares of company stock valued at $31,751,368. 21.91% of the stock is currently owned by company 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.