Archford Capital Strategies LLC Trims Position in Paylocity Holding Co. (NASDAQ:PCTY)

Archford Capital Strategies LLC trimmed its position in Paylocity Holding Co. (NASDAQ:PCTY) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,896 shares of the software maker’s stock after selling 1,144 shares during the period. Archford Capital Strategies LLC’s holdings in Paylocity were worth $3,171,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in shares of Paylocity by 81.9% in the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock worth $141,303,000 after buying an additional 385,625 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Paylocity by 435.2% during the 2nd quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock worth $43,676,000 after acquiring an additional 269,354 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Paylocity by 283.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock worth $51,101,000 after acquiring an additional 229,057 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Paylocity by 58.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 335,946 shares of the software maker’s stock valued at $44,296,000 after acquiring an additional 123,744 shares during the period. Finally, Marshall Wace LLP bought a new position in Paylocity in the 2nd quarter worth $15,193,000. 94.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. BMO Capital Markets upped their price target on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of Paylocity in a research note on Wednesday, January 15th. Truist Financial upped their price target 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. Mizuho raised their price objective on shares of Paylocity from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, KeyCorp upped their target price on shares of Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $210.64.

Insider Buying and Selling at Paylocity

In other news, SVP Andrew Cappotelli sold 247 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $47,742.63. Following the completion of the sale, the senior vice president now directly owns 14,634 shares of the company’s stock, valued at $2,828,605.86. This trade represents a 1.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction, the chief accounting officer now directly owns 7,364 shares in the company, valued at approximately $1,423,387.56. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 157,486 shares of company stock worth $31,751,368 over the last 90 days. 21.91% of the stock is owned by insiders.

Paylocity Stock Up 1.5 %

Shares of PCTY opened at $206.50 on Friday. The business’s 50 day simple moving average is $200.74 and its 200-day simple moving average is $176.97. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68. 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 capitalization of $11.51 billion, a price-to-earnings ratio of 52.81, a price-to-earnings-growth ratio of 4.84 and a beta of 0.93.

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.