Associated Banc Corp Invests $216,000 in Paylocity Holding Co. (NASDAQ:PCTY)

Associated Banc Corp purchased a new stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,312 shares of the software maker’s stock, valued at approximately $216,000.

A number of other institutional investors have also recently bought and sold shares of PCTY. Liontrust Investment Partners LLP grew its position in Paylocity by 27.1% during the second quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock valued at $106,840,000 after purchasing an additional 172,807 shares in the last quarter. Van Berkom & Associates Inc. grew its position in Paylocity by 20.5% in the second quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker’s stock worth $76,447,000 after acquiring an additional 98,478 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Paylocity by 4.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 472,686 shares of the software maker’s stock valued at $62,324,000 after purchasing an additional 21,127 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Paylocity by 58.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 335,946 shares of the software maker’s stock valued at $44,296,000 after purchasing an additional 123,744 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Paylocity by 435.2% in the 2nd quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock valued at $43,676,000 after purchasing an additional 269,354 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Truist Financial raised their target price on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 1st. Needham & Company LLC upped their target price on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Piper Sandler lifted their price target on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. KeyCorp raised their target price on shares of Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, BMO Capital Markets boosted their target price on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Paylocity has a consensus rating of “Moderate Buy” and a consensus target price of $196.64.

Paylocity Stock Up 0.8 %

Shares of PCTY stock opened at $211.88 on Wednesday. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $215.68. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a fifty day moving average price of $181.09 and a 200 day moving average price of $160.41. The stock has a market cap of $11.81 billion, a P/E ratio of 54.19, a price-to-earnings-growth ratio of 5.17 and a beta of 0.93.

Insider Activity

In related news, CAO Nicholas Rost sold 212 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total transaction of $40,977.48. Following the completion of the transaction, the chief accounting officer now owns 7,364 shares in the company, valued at $1,423,387.56. This trade represents a 2.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rachit Lohani sold 658 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now owns 39,764 shares in the company, valued at $6,474,772.12. This trade represents a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,277 shares of company stock worth $14,057,311. Corporate insiders own 21.91% of the company’s stock.

Paylocity Profile

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.