Paylocity Holding Co. (NASDAQ:PCTY) Shares Purchased by King Luther Capital Management Corp

King Luther Capital Management Corp grew its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,149 shares of the software maker’s stock after buying an additional 168 shares during the quarter. King Luther Capital Management Corp’s holdings in Paylocity were worth $1,674,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PCTY shares. Jefferies Financial Group lifted their price objective on shares of Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. BMO Capital Markets upped their price objective on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Truist Financial lifted their target price on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Barclays upped their target price on Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $196.64.

Insider Activity at Paylocity

In other news, CAO Nicholas Rost sold 212 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 directly owns 7,364 shares of the company’s stock, valued at approximately $1,423,387.56. This represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey T. Diehl sold 29,606 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was 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 in the company, valued at approximately $2,310,445.25. This trade represents a 71.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,971 shares of company stock valued at $11,750,096 in the last quarter. Insiders own 21.91% of the company’s stock.

Paylocity Stock Up 1.7 %

Shares of NASDAQ:PCTY opened at $205.28 on Friday. The company’s fifty day moving average is $178.10 and its two-hundred day moving average is $159.63. 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 1-year low of $129.94 and a 1-year high of $215.68. The stock has a market capitalization of $11.44 billion, a price-to-earnings ratio of 52.50, a price-to-earnings-growth ratio of 4.89 and a beta of 0.93.

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.