Point72 Asia Singapore Pte. Ltd. Invests $1.86 Million in Paylocity Holding Co. (NASDAQ:PCTY)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,282 shares of the software maker’s stock, valued at approximately $1,861,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PCTY. Millennium Management LLC grew its holdings in shares of Paylocity by 435.2% during the second quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock worth $43,676,000 after purchasing an additional 269,354 shares during the last quarter. Liontrust Investment Partners LLP grew its holdings in shares of Paylocity by 27.1% during the second quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock worth $106,840,000 after purchasing an additional 172,807 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Paylocity by 1,662.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 181,920 shares of the software maker’s stock worth $23,986,000 after purchasing an additional 171,597 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Paylocity by 58.3% during the second quarter. Dimensional Fund Advisors LP now owns 335,946 shares of the software maker’s stock worth $44,296,000 after purchasing an additional 123,744 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Paylocity during the second quarter worth about $15,193,000. 94.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on PCTY shares. Mizuho increased their target price on shares of Paylocity from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. KeyCorp increased their target price on shares of Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Piper Sandler increased their target price 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. Barclays increased their target price 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, Needham & Company LLC increased their target price on shares of Paylocity from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $196.64.

Insider Buying and Selling

In related news, Director Steven I. Sarowitz sold 12,226 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $196.29, for a total value of $2,399,841.54. Following the completion of the sale, the director now directly owns 9,300,847 shares of the company’s stock, valued at approximately $1,825,663,257.63. This represents a 0.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Rachit Lohani sold 658 shares of the 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 directly owns 39,764 shares of the company’s stock, valued at $6,474,772.12. The trade was a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,790 shares of company stock worth $15,004,635 in the last ninety days. Corporate insiders own 21.91% of the company’s stock.

Paylocity Price Performance

Shares of PCTY opened at $207.54 on Monday. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $215.68. The business’s fifty day moving average is $183.90 and its 200 day moving average is $161.25. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. The stock has a market cap of $11.57 billion, a P/E ratio of 53.08, a P/E/G ratio of 5.11 and a beta of 0.93.

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.