B. Metzler seel. Sohn & Co. Holding AG Invests $2.96 Million in Paylocity Holding Co. (NASDAQ:PCTY)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Paylocity Holding Co. (NASDAQ:PCTYFree Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,955 shares of the software maker’s stock, valued at approximately $2,962,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its stake in shares of Paylocity by 1,650.0% during the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after buying an additional 165 shares during the period. Rothschild Investment LLC purchased a new position in shares of Paylocity during the 2nd quarter worth $40,000. Signaturefd LLC boosted its holdings in shares of Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after purchasing an additional 167 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of Paylocity in the second quarter valued at $66,000. Finally, CWM LLC increased its stake in Paylocity by 103.3% in the second quarter. CWM LLC now owns 557 shares of the software maker’s stock valued at $73,000 after purchasing an additional 283 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Price Performance

PCTY opened at $195.28 on Thursday. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $215.68. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. The firm has a market cap of $10.89 billion, a price-to-earnings ratio of 49.94, a PEG ratio of 4.96 and a beta of 0.93. The company has a fifty day simple moving average of $176.43 and a 200 day simple moving average of $159.08.

Insiders Place Their Bets

In other news, Director Jeffrey T. Diehl sold 29,606 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $196.55, for a total transaction of $5,819,059.30. Following the transaction, the director now owns 11,755 shares of the company’s stock, valued at approximately $2,310,445.25. This trade represents a 71.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Rachit Lohani sold 658 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total value of $107,142.14. Following the sale, the senior vice president now owns 39,764 shares in the company, valued at $6,474,772.12. The trade was a 1.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,527 shares of company stock worth $8,731,875 in the last three months. 21.91% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PCTY shares. Piper Sandler raised their target price on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Needham & Company LLC boosted their price objective 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. BTIG Research cut their target price on Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. JMP Securities restated a “market outperform” rating and set a $250.00 price target on shares of Paylocity in a research note on Monday, August 5th. Finally, Barclays raised their price objective on Paylocity from $174.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $196.64.

View Our Latest Analysis on Paylocity

Paylocity Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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