CWA Asset Management Group LLC Invests $1.24 Million in Paylocity Holding Co. (NASDAQ:PCTY)

CWA Asset Management Group LLC purchased a new stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,200 shares of the software maker’s stock, valued at approximately $1,237,000.

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

Paylocity Stock Performance

NASDAQ PCTY opened at $196.77 on Wednesday. The company has a 50-day simple moving average of $201.53 and a two-hundred day simple moving average of $171.01. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $215.68. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 50.32, a PEG ratio of 4.93 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.

Insider Activity at Paylocity

In other Paylocity news, Director Jeffrey T. Diehl sold 29,606 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $196.55, for a total transaction 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 $2,310,445.25. This represents a 71.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Nicholas Rost sold 212 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total transaction of $40,977.48. Following the completion of the transaction, the chief accounting officer now owns 7,364 shares in the company, valued at $1,423,387.56. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 157,486 shares of company stock worth $31,751,368 in the last ninety days. 21.91% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PCTY. Piper Sandler boosted 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. Truist Financial upped their price target on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, November 1st. BMO Capital Markets lifted their price objective on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. KeyCorp raised their price target on Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Barclays boosted their price objective on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a 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 stock. According to MarketBeat, Paylocity presently has an average rating of “Moderate Buy” and an average target price of $205.71.

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.