Mediolanum International Funds Ltd Purchases New Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Mediolanum International Funds Ltd acquired a new position in Paylocity Holding Co. (NASDAQ:PCTY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 34,978 shares of the software maker’s stock, valued at approximately $6,980,000. Mediolanum International Funds Ltd owned 0.06% of Paylocity as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PCTY. UMB Bank n.a. increased its position in Paylocity by 1,650.0% during the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after buying an additional 165 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of Paylocity during the third quarter valued at $39,000. Signaturefd LLC raised 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 last quarter. Quarry LP boosted its stake 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 purchasing an additional 185 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Paylocity by 43.3% during the 4th 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 last quarter. Institutional investors own 94.76% of the company’s stock.

Insider Transactions at Paylocity

In other Paylocity 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 transaction of $5,819,059.30. Following the sale, the director now directly owns 11,755 shares of the company’s stock, valued at $2,310,445.25. This trade represents a 71.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Andrew Cappotelli sold 247 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 14,634 shares of the company’s stock, valued at approximately $2,828,605.86. This trade represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 157,486 shares of company stock valued at $31,751,368 over the last quarter. 21.91% of the stock is currently owned by company insiders.

Paylocity Price Performance

Shares of Paylocity stock opened at $205.52 on Friday. The stock’s fifty day moving average is $201.39 and its 200 day moving average is $179.00. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $215.68. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a market cap of $11.46 billion, a P/E ratio of 52.56, a P/E/G ratio of 4.98 and a beta of 0.93.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PCTY. Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 target price on shares of Paylocity in a report on Wednesday, January 15th. Truist Financial upped their price objective on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Mizuho raised Paylocity from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $200.00 to $235.00 in a report on Friday. TD Cowen lowered their price target on Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Piper Sandler lifted their price objective on Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $213.86.

About Paylocity

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.