Edgestream Partners L.P. Purchases 7,475 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Edgestream Partners L.P. raised its position in Paylocity Holding Co. (NASDAQ:PCTY) by 222.3% in the 3rd quarter, Holdings Channel reports. The firm owned 10,837 shares of the software maker’s stock after buying an additional 7,475 shares during the quarter. Edgestream Partners L.P.’s holdings in Paylocity were worth $1,788,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. UMB Bank n.a. boosted its stake in 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. Prospera Private Wealth LLC purchased a new stake in shares of Paylocity in the 3rd quarter valued at about $39,000. Rothschild Investment LLC bought a new stake in shares of Paylocity during the 2nd quarter valued at about $40,000. Signaturefd LLC grew 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 in the last quarter. Finally, Tompkins Financial Corp bought a new position in shares of Paylocity in the third quarter worth approximately $82,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Paylocity Stock Down 0.9 %

PCTY stock opened at $207.57 on Wednesday. The company has a market capitalization of $11.57 billion, a price-to-earnings ratio of 53.09, a price-to-earnings-growth ratio of 5.16 and a beta of 0.92. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The business’s 50 day moving average price is $185.65 and its two-hundred day moving average price is $161.75. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $215.68.

Insider Buying and Selling

In other Paylocity news, CAO Nicholas Rost sold 212 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $40,977.48. Following the sale, the chief accounting officer now owns 7,364 shares in the company, valued at approximately $1,423,387.56. This represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Andrew Cappotelli sold 247 shares of Paylocity stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total transaction of $47,742.63. Following the transaction, the senior vice president now owns 14,634 shares of the company’s stock, valued at $2,828,605.86. The trade was a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 88,927 shares of company stock valued at $17,759,122 over the last ninety days. Company insiders own 21.91% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PCTY. Mizuho increased their price target on shares of Paylocity from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. StockNews.com downgraded Paylocity from a “buy” rating to a “hold” rating in a research report on Friday, November 29th. Piper Sandler upped their price objective on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. KeyCorp boosted their target price on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Barclays increased their price target on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $196.64.

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.