Trust Point Inc. Sells 1,162 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Trust Point Inc. lessened its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 12.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,828 shares of the software maker’s stock after selling 1,162 shares during the period. Trust Point Inc.’s holdings in Paylocity were worth $1,561,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PCTY. UMB Bank n.a. raised its stake in shares of 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 acquiring an additional 165 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Paylocity during the third quarter valued at $39,000. 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 valued at $50,000 after buying an additional 167 shares during the last quarter. Quarry LP lifted its position in 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 during the period. Finally, GAMMA Investing LLC lifted its position in Paylocity by 43.3% during the fourth quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock valued at $77,000 after purchasing an additional 116 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Stock Performance

Shares of PCTY opened at $206.38 on Tuesday. 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 market cap of $11.51 billion, a price-to-earnings ratio of 52.78, a PEG ratio of 5.03 and a beta of 0.95. The company has a 50-day moving average of $201.39 and a two-hundred day moving average of $179.40. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $215.68.

Insider Activity at Paylocity

In other news, CFO Ryan Glenn sold 500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $203.28, for a total value of $101,640.00. Following the completion of the sale, the chief financial officer now directly owns 52,134 shares of the company’s stock, valued at $10,597,799.52. This represents a 0.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Nicholas Rost sold 212 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $40,977.48. Following the completion of the transaction, the chief accounting officer now owns 7,364 shares of the company’s stock, valued at $1,423,387.56. This represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,880 shares of company stock valued at $25,932,309. 21.91% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on PCTY. Truist Financial upped their price objective on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. KeyCorp increased their price target on shares of Paylocity from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday. Piper Sandler increased their price target on shares of Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Citigroup upgraded shares of Paylocity from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $214.00 to $231.00 in a report on Thursday, January 16th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $220.00 target price on shares of Paylocity in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.86.

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.