Oppenheimer Asset Management Inc. Decreases Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Oppenheimer Asset Management Inc. lowered its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 0.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,036 shares of the software maker’s stock after selling 51 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Paylocity were worth $9,574,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PCTY. Price T Rowe Associates Inc. MD increased its stake in shares of Paylocity by 3.3% during the 1st 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 purchasing an additional 278,607 shares during the last quarter. Capital Research Global Investors purchased a new stake in shares of Paylocity during the 1st quarter worth approximately $46,902,000. Millennium Management LLC increased its stake in shares of Paylocity by 435.2% during 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 during the last quarter. Liontrust Investment Partners LLP increased its stake in shares of Paylocity by 27.1% during the 2nd quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock worth $106,840,000 after purchasing an additional 172,807 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in Paylocity by 1,662.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 181,920 shares of the software maker’s stock worth $23,986,000 after buying an additional 171,597 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Piper Sandler raised their price objective on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. BMO Capital Markets raised their price objective on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Mizuho raised their price objective on shares of Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. StockNews.com downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Finally, Truist Financial raised their price objective on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $196.64.

Insider Buying and Selling

In other news, 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 directly owns 39,764 shares in the company, valued at approximately $6,474,772.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Rachit Lohani sold 658 shares of Paylocity stock in a transaction on Wednesday, October 2nd. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ryan Glenn sold 500 shares of Paylocity stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $203.28, for a total transaction of $101,640.00. Following the completion of the sale, the chief financial officer now owns 52,134 shares in the company, valued at approximately $10,597,799.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,896 shares of company stock worth $6,049,629 in the last 90 days. 21.91% of the stock is owned by company insiders.

Paylocity Stock Performance

NASDAQ PCTY opened at $211.62 on Thursday. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $215.68. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market capitalization of $11.80 billion, a P/E ratio of 54.12, a P/E/G ratio of 5.34 and a beta of 0.93. The company has a fifty day moving average of $173.03 and a 200-day moving average of $157.87.

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.