Coldstream Capital Management Inc. Acquires New Position in Paylocity Holding Co. (NASDAQ:PCTY)

Coldstream Capital Management Inc. bought a new position in Paylocity Holding Co. (NASDAQ:PCTY) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,443 shares of the software maker’s stock, valued at approximately $239,000.

A number of other institutional investors have also modified their holdings of the stock. UMB Bank n.a. increased its holdings in Paylocity by 1,650.0% during the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after purchasing an additional 165 shares during the period. Prospera Private Wealth LLC bought a new position in Paylocity during the 3rd quarter worth about $39,000. Rothschild Investment LLC purchased a new position in Paylocity during the 2nd quarter valued at about $40,000. Signaturefd LLC lifted its position in shares of Paylocity by 121.0% in the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after purchasing an additional 167 shares during the period. Finally, Quarry LP boosted its stake in shares of Paylocity by 149.2% during the third quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after purchasing an additional 185 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on PCTY shares. BMO Capital Markets upped their target price on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Truist Financial upped their price objective on Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Piper Sandler lifted their target price on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. TD Cowen boosted their target price on shares of Paylocity from $208.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Needham & Company LLC raised their price target on shares of Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.71.

Paylocity Stock Up 1.3 %

NASDAQ:PCTY opened at $202.78 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $215.68. The company has a market cap of $11.30 billion, a PE ratio of 51.86, a P/E/G ratio of 4.93 and a beta of 0.92. The company’s 50 day moving average is $191.97 and its two-hundred day moving average is $164.21.

Insider Transactions at Paylocity

In other news, Director Jeffrey T. Diehl sold 29,606 shares of the firm’s stock in a transaction dated 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 transaction, 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 document filed with the SEC, which is available through the SEC website. Also, SVP Rachit Lohani sold 658 shares of the company’s stock in a transaction that occurred 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 approximately $6,474,772.12. This represents a 1.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 139,710 shares of company stock worth $28,124,978. Company insiders own 21.91% of the company’s stock.

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.