LPL Financial LLC Sells 292 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

LPL Financial LLC lessened its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 3.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,787 shares of the software maker’s stock after selling 292 shares during the quarter. LPL Financial LLC’s holdings in Paylocity were worth $1,621,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PCTY. Harvest Fund Management Co. Ltd bought a new stake in Paylocity during the first quarter worth $33,000. BI Asset Management Fondsmaeglerselskab A S raised its position in Paylocity by 135.1% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 174 shares of the software maker’s stock worth $35,000 after acquiring an additional 100 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new stake in Paylocity during the fourth quarter worth $44,000. V Square Quantitative Management LLC bought a new stake in Paylocity during the second quarter worth $47,000. Finally, Clearstead Advisors LLC raised its position in Paylocity by 872.4% during the first quarter. Clearstead Advisors LLC now owns 282 shares of the software maker’s stock worth $56,000 after acquiring an additional 253 shares in the last quarter. Institutional investors own 73.65% of the company’s stock.

Analysts Set New Price Targets

PCTY has been the topic of several analyst reports. Piper Sandler dropped their price target on shares of Paylocity from $249.00 to $207.00 and set an “overweight” rating on the stock in a research report on Friday, November 3rd. Bank of America began coverage on shares of Paylocity in a research report on Thursday, October 26th. They issued a “neutral” rating and a $210.00 price objective on the stock. TD Cowen increased their price objective on shares of Paylocity from $253.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Credit Suisse Group reissued a “neutral” rating and issued a $215.00 price objective on shares of Paylocity in a research report on Friday, August 4th. Finally, Mizuho dropped their price objective on shares of Paylocity from $225.00 to $170.00 and set a “neutral” rating on the stock in a research report on Friday, November 3rd. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $225.75.

Paylocity Stock Down 3.3 %

Shares of Paylocity stock opened at $144.39 on Tuesday. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 56.18, a PEG ratio of 2.58 and a beta of 1.05. Paylocity Holding Co. has a 12-month low of $139.40 and a 12-month high of $235.00. The firm’s 50-day moving average price is $184.27 and its two-hundred day moving average price is $189.43.

Insiders Place Their Bets

In other Paylocity news, CAO Nicholas Rost sold 430 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $194.99, for a total transaction of $83,845.70. Following the sale, the chief accounting officer now directly owns 5,590 shares in the company, valued at $1,089,994.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Joshua Scutt sold 1,206 shares of the stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $200.00, for a total value of $241,200.00. Following the completion of the transaction, the senior vice president now owns 30,367 shares of the company’s stock, valued at $6,073,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Nicholas Rost sold 430 shares of the stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $194.99, for a total transaction of $83,845.70. Following the completion of the transaction, the chief accounting officer now directly owns 5,590 shares of the company’s stock, valued at approximately $1,089,994.10. The disclosure for this sale can be found here. Insiders have sold 171,914 shares of company stock worth $33,888,243 over the last ninety days. Corporate insiders own 22.50% of the company’s stock.

Paylocity Profile

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.