Archford Capital Strategies LLC Reduces Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Archford Capital Strategies LLC decreased its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 6.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 15,896 shares of the software maker’s stock after selling 1,144 shares during the quarter. Archford Capital Strategies LLC’s holdings in Paylocity were worth $3,171,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp increased its stake in Paylocity by 53.6% in the 4th quarter. Fifth Third Bancorp now owns 4,632 shares of the software maker’s stock worth $924,000 after buying an additional 1,617 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its stake in Paylocity by 91.9% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 36,315 shares of the software maker’s stock worth $7,244,000 after acquiring an additional 17,391 shares in the last quarter. Dakota Wealth Management bought a new stake in shares of Paylocity during the fourth quarter valued at approximately $203,000. Nisa Investment Advisors LLC boosted its holdings in shares of Paylocity by 5,742.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker’s stock valued at $1,165,000 after purchasing an additional 5,742 shares during the period. Finally, UMB Bank n.a. grew its stake in Paylocity by 41.1% in the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after purchasing an additional 72 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Jefferies Financial Group upped their target price on Paylocity from $215.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Citigroup upgraded shares of Paylocity from a “neutral” rating to a “buy” rating and increased their target price for the stock from $214.00 to $231.00 in a report on Thursday, January 16th. TD Cowen lowered their price target on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Barclays increased 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. Finally, Truist Financial upped their price objective on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Paylocity has an average rating of “Moderate Buy” and an average price target of $210.64.

Insider Buying and Selling at Paylocity

In related news, CAO Nicholas Rost sold 212 shares of the business’s stock in a transaction 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 $1,423,387.56. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven I. Sarowitz sold 10,237 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $210.10, for a total value of $2,150,793.70. Following the completion of the sale, the director now directly owns 9,214,115 shares in the company, valued at $1,935,885,561.50. This represents a 0.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 157,486 shares of company stock valued at $31,751,368 in the last three months. 21.91% of the stock is owned by corporate insiders.

Paylocity Trading Up 1.5 %

PCTY opened at $206.50 on Friday. 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 firm has a market cap of $11.51 billion, a P/E ratio of 52.81, a P/E/G ratio of 4.84 and a beta of 0.93. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68. The business has a fifty day simple moving average of $200.74 and a 200-day simple moving average of $176.97.

About Paylocity

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.