Point72 DIFC Ltd Cuts Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Point72 DIFC Ltd reduced its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 39.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,998 shares of the software maker’s stock after selling 3,306 shares during the quarter. Point72 DIFC Ltd’s holdings in Paylocity were worth $825,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Cetera Investment Advisers lifted its position in shares of Paylocity by 128.7% during the first quarter. Cetera Investment Advisers now owns 11,783 shares of the software maker’s stock valued at $2,025,000 after purchasing an additional 6,630 shares in the last quarter. Cetera Advisors LLC bought a new position in shares of Paylocity in the first quarter valued at approximately $729,000. CWM LLC increased its position in shares of Paylocity by 103.3% during the second quarter. CWM LLC now owns 557 shares of the software maker’s stock valued at $73,000 after acquiring an additional 283 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Paylocity by 2.9% during the second quarter. SG Americas Securities LLC now owns 5,843 shares of the software maker’s stock worth $770,000 after acquiring an additional 162 shares during the period. Finally, Washington Capital Management Inc. boosted its position in Paylocity by 62.6% in the second quarter. Washington Capital Management Inc. now owns 5,530 shares of the software maker’s stock worth $729,000 after purchasing an additional 2,130 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.

Paylocity Trading Down 2.8 %

Shares of PCTY opened at $203.84 on Friday. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $215.68. The stock has a market cap of $11.36 billion, a PE ratio of 52.13, a P/E/G ratio of 5.11 and a beta of 0.92. 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’s 50-day moving average price is $187.43 and its 200-day moving average price is $162.38.

Analysts Set New Price Targets

PCTY has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their target price on Paylocity from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC boosted their target price on shares of Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. KeyCorp increased their target price on shares of Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Barclays lifted their price target on shares of Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, Mizuho increased their price objective on Paylocity from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $196.64.

Insider Buying and Selling at Paylocity

In other news, Director Steven I. Sarowitz sold 10,237 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $210.10, for a total transaction of $2,150,793.70. Following the transaction, the director now directly owns 9,214,115 shares of the company’s stock, valued at approximately $1,935,885,561.50. The trade was a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rachit Lohani sold 658 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total transaction of $107,142.14. Following the completion of the transaction, the senior vice president now owns 39,764 shares of the company’s stock, valued at $6,474,772.12. This trade represents a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 94,427 shares of company stock worth $18,898,073 over the last ninety days. Insiders own 21.91% of the company’s stock.

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.