Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. trimmed its position in Paylocity Holding Co. (NASDAQ:PCTYGet Rating) by 94.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,272 shares of the software maker’s stock after selling 37,407 shares during the quarter. Pinebridge Investments L.P.’s holdings in Paylocity were worth $396,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PCTY. Zions Bancorporation N.A. purchased a new stake in shares of Paylocity in the 2nd quarter valued at approximately $753,000. TimesSquare Capital Management LLC raised its stake in shares of Paylocity by 1.7% in the 2nd quarter. TimesSquare Capital Management LLC now owns 394,975 shares of the software maker’s stock valued at $68,892,000 after acquiring an additional 6,580 shares during the period. Securian Asset Management Inc. raised its stake in shares of Paylocity by 2.8% in the 2nd quarter. Securian Asset Management Inc. now owns 3,655 shares of the software maker’s stock valued at $638,000 after acquiring an additional 100 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Paylocity by 39.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 277 shares of the software maker’s stock valued at $48,000 after acquiring an additional 78 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC raised its stake in shares of Paylocity by 0.8% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 6,643 shares of the software maker’s stock valued at $1,159,000 after acquiring an additional 53 shares during the period. 72.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Paylocity news, Director Ronald V. Waters sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $247.09, for a total transaction of $741,270.00. Following the completion of the transaction, the director now owns 9,613 shares in the company, valued at approximately $2,375,276.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Steven I. Sarowitz sold 28,813 shares of the company’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $248.39, for a total value of $7,156,861.07. Following the completion of the transaction, the director now owns 11,197,423 shares in the company, valued at approximately $2,781,327,898.97. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ronald V. Waters sold 3,000 shares of the company’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $247.09, for a total transaction of $741,270.00. Following the completion of the transaction, the director now owns 9,613 shares of the company’s stock, valued at approximately $2,375,276.17. The disclosure for this sale can be found here. Insiders sold 124,710 shares of company stock worth $31,554,173 in the last 90 days. Corporate insiders own 26.50% of the company’s stock.

Paylocity Stock Down 1.1 %

NASDAQ PCTY opened at $199.71 on Tuesday. Paylocity Holding Co. has a 52 week low of $152.01 and a 52 week high of $284.46. The stock has a market capitalization of $11.12 billion, a PE ratio of 124.82 and a beta of 1.08. The firm has a 50 day moving average of $236.51 and a two-hundred day moving average of $210.03.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PCTY. KeyCorp reduced their price target on shares of Paylocity from $310.00 to $295.00 and set an “overweight” rating on the stock in a research note on Friday. Cowen boosted their price target on shares of Paylocity from $240.00 to $265.00 in a research note on Friday, August 5th. Piper Sandler boosted their price target on shares of Paylocity from $269.00 to $276.00 and gave the company an “overweight” rating in a research note on Friday. Citigroup cut their target price on shares of Paylocity from $294.00 to $255.00 in a research note on Friday, October 21st. Finally, Mizuho upped their target price on shares of Paylocity from $185.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, August 5th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.00.

Paylocity Company Profile

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Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.

Further Reading

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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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