Paylocity Holding Co. (NASDAQ:PCTY) Short Interest Update

Paylocity Holding Co. (NASDAQ:PCTY) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 1,120,000 shares, a decrease of 22.2% from the October 15th total of 1,440,000 shares. Currently, 2.6% of the shares of the company are sold short. Based on an average daily volume of 450,800 shares, the days-to-cover ratio is currently 2.5 days.

Analysts Set New Price Targets

Several research firms have weighed in on PCTY. Needham & Company LLC raised their price target on Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, October 31st. StockNews.com cut Paylocity from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Piper Sandler raised their price target on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. BTIG Research reduced their price target on Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Mizuho lifted their price objective on Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $196.64.

Paylocity Stock Down 3.8 %

Shares of PCTY stock traded down $7.71 during mid-day trading on Friday, hitting $197.79. The company’s stock had a trading volume of 548,667 shares, compared to its average volume of 502,719. Paylocity has a 52-week low of $129.94 and a 52-week high of $215.68. The business has a 50-day moving average price of $174.03 and a 200 day moving average price of $158.20. 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 stock has a market cap of $11.03 billion, a price-to-earnings ratio of 50.59, a PEG ratio of 5.31 and a beta of 0.93.

Insider Buying and Selling at Paylocity

In other news, CFO Ryan Glenn sold 500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $203.28, for a total transaction of $101,640.00. Following the completion of the transaction, the chief financial officer now owns 52,134 shares in the company, valued at approximately $10,597,799.52. This represents a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey T. Diehl sold 29,606 shares of the stock in a transaction 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 transaction, the director now owns 11,755 shares of the company’s stock, valued at $2,310,445.25. The trade was a 71.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,896 shares of company stock worth $6,049,629 in the last quarter. 21.91% of the stock is currently owned by company insiders.

Institutional Trading of Paylocity

Large investors have recently modified their holdings of the company. UMB Bank n.a. grew its holdings in shares of Paylocity by 1,650.0% in the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after acquiring an additional 165 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Paylocity in the third quarter worth $39,000. Rothschild Investment LLC bought a new stake in shares of Paylocity in the second quarter worth $40,000. Signaturefd LLC grew its holdings in Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after purchasing an additional 167 shares during the period. Finally, Quarry LP grew its holdings in Paylocity by 149.2% during the third quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after purchasing an additional 185 shares during the period. Institutional investors own 94.76% of the company’s stock.

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.