M&T Bank Corp Grows Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

M&T Bank Corp raised its position in shares of Paylocity Holding Co. (NASDAQ:PCTYGet Rating) by 399.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,203 shares of the software maker’s stock after buying an additional 4,161 shares during the quarter. M&T Bank Corp’s holdings in Paylocity were worth $242,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Northwestern Mutual Investment Management Company LLC raised its position 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 purchasing an additional 53 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Paylocity by 26.2% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 260 shares of the software maker’s stock valued at $54,000 after purchasing an additional 54 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Paylocity by 101.7% in the 1st quarter. Parallel Advisors LLC now owns 121 shares of the software maker’s stock valued at $25,000 after purchasing an additional 61 shares during the last quarter. Advisory Services Network LLC raised its position in shares of Paylocity by 4.7% in the 2nd quarter. Advisory Services Network LLC now owns 1,571 shares of the software maker’s stock valued at $275,000 after purchasing an additional 70 shares during the last quarter. Finally, Broadleaf Partners LLC raised its position in shares of Paylocity by 0.3% in the 1st quarter. Broadleaf Partners LLC now owns 22,313 shares of the software maker’s stock valued at $4,591,000 after purchasing an additional 76 shares during the last quarter. 72.35% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Paylocity

In other news, CFO Ryan Glenn sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $248.49, for a total transaction of $186,367.50. Following the sale, the chief financial officer now owns 25,616 shares of the company’s stock, valued at approximately $6,365,319.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Ryan Glenn sold 750 shares of Paylocity stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $248.49, for a total value of $186,367.50. Following the sale, the chief financial officer now owns 25,616 shares of the company’s stock, valued at approximately $6,365,319.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronald V. Waters sold 3,000 shares of Paylocity 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 sale, the director now directly owns 9,613 shares in the company, valued at approximately $2,375,276.17. The disclosure for this sale can be found here. Insiders have sold 97,072 shares of company stock valued at $24,204,007 in the last 90 days. 26.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PCTY has been the subject of several research analyst reports. Cowen increased their price objective on shares of Paylocity from $240.00 to $265.00 in a research report on Friday, August 5th. Cowen increased their price target on shares of Paylocity from $240.00 to $265.00 in a report on Friday, August 5th. KeyCorp cut their price target on shares of Paylocity from $310.00 to $295.00 and set an “overweight” rating on the stock in a report on Friday, November 4th. StockNews.com started coverage on shares of Paylocity in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Piper Sandler increased their price target on shares of Paylocity from $269.00 to $276.00 and gave the stock an “overweight” rating in a report on Friday, November 4th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $259.00.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $218.82 on Thursday. The stock has a market capitalization of $12.18 billion, a price-to-earnings ratio of 136.76 and a beta of 1.08. Paylocity Holding Co. has a 12 month low of $152.01 and a 12 month high of $276.88. The firm’s 50 day simple moving average is $232.79 and its 200-day simple moving average is $210.94.

About Paylocity

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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.

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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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