Geode Capital Management LLC Raises Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Geode Capital Management LLC grew its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 3.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,048,806 shares of the software maker’s stock after buying an additional 36,590 shares during the period. Geode Capital Management LLC owned 1.88% of Paylocity worth $173,053,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. UMB Bank n.a. lifted its holdings 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 purchasing an additional 165 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Paylocity during the 3rd quarter valued at $39,000. Rothschild Investment LLC purchased a new position in shares of Paylocity during the 2nd quarter valued at $40,000. Signaturefd LLC boosted its holdings in Paylocity by 121.0% in the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after buying an additional 167 shares during the period. Finally, Quarry LP boosted its holdings in Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after buying an additional 185 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Jeffrey T. Diehl sold 29,606 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $196.55, for a total value of $5,819,059.30. Following the completion of the sale, the director now directly owns 11,755 shares in the company, valued at $2,310,445.25. This trade represents a 71.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Andrew Cappotelli sold 247 shares of the business’s stock in a transaction 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 in the company, valued at $2,828,605.86. This trade represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 129,089 shares of company stock valued at $25,991,644 in the last ninety days. Insiders own 21.91% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PCTY. TD Cowen boosted their price objective on Paylocity from $208.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Truist Financial boosted their price target on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Needham & Company LLC upped their price target on Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Barclays lifted their price objective 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. Finally, StockNews.com upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday, December 7th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.71.

Paylocity Stock Down 2.2 %

Shares of NASDAQ:PCTY opened at $200.17 on Monday. The company has a market cap of $11.16 billion, a price-to-earnings ratio of 51.19, a PEG ratio of 4.93 and a beta of 0.92. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $215.68. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average price of $191.97 and a 200 day moving average price of $164.21.

Paylocity Company 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.