Paloma Partners Management Co Invests $705,000 in Paylocity Holding Co. (NASDAQ:PCTY)

Paloma Partners Management Co bought a new stake in Paylocity Holding Co. (NASDAQ:PCTY) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,272 shares of the software maker’s stock, valued at approximately $705,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. UMB Bank n.a. increased its holdings in shares of 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 buying an additional 165 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Paylocity during the third quarter worth about $39,000. Rothschild Investment LLC purchased a new position in shares of Paylocity in the 2nd quarter worth about $40,000. Signaturefd LLC lifted its stake in shares of Paylocity by 121.0% in the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after purchasing an additional 167 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of Paylocity by 103.3% during the 2nd quarter. CWM LLC now owns 557 shares of the software maker’s stock worth $73,000 after purchasing an additional 283 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Trading Down 0.9 %

Shares of NASDAQ PCTY opened at $207.57 on Wednesday. The stock has a market capitalization of $11.57 billion, a P/E ratio of 53.09, a PEG ratio of 5.16 and a beta of 0.92. The stock’s 50 day moving average price is $185.65 and its two-hundred day moving average price is $161.75. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $215.68.

Insiders Place Their Bets

In other Paylocity news, SVP Rachit Lohani sold 658 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total value of $107,142.14. Following 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeffrey T. Diehl sold 29,606 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $196.55, for a total value of $5,819,059.30. Following the transaction, the director now directly owns 11,755 shares of the company’s stock, valued at $2,310,445.25. This trade represents a 71.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,927 shares of company stock valued at $17,759,122. Company insiders own 21.91% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on PCTY. Jefferies Financial Group raised their price target on shares of Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Piper Sandler increased their price target on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Truist Financial upped 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. KeyCorp upped their price target on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, StockNews.com lowered shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Friday, November 29th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $196.64.

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.