Paylocity Holding Co. (NASDAQ:PCTY) Holdings Raised by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC grew its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 303.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 10,569 shares of the software maker’s stock after acquiring an additional 7,949 shares during the period. Icon Wealth Advisors LLC’s holdings in Paylocity were worth $1,698,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PCTY. Price T Rowe Associates Inc. MD boosted its stake in shares of Paylocity by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock worth $1,518,176,000 after acquiring an additional 278,607 shares in the last quarter. Liontrust Investment Partners LLP boosted its position in shares of Paylocity by 27.1% in the second quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock valued at $106,840,000 after acquiring an additional 172,807 shares during the period. Van Berkom & Associates Inc. raised its stake in Paylocity by 20.5% during the 2nd quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker’s stock valued at $76,447,000 after purchasing an additional 98,478 shares during the last quarter. Bank of New York Mellon Corp grew its position in Paylocity by 4.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 472,686 shares of the software maker’s stock worth $62,324,000 after purchasing an additional 21,127 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position 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 valued at $44,296,000 after buying an additional 123,744 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Paylocity

In related news, Director Steven I. Sarowitz sold 15,444 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $195.43, for a total value of $3,018,220.92. Following the sale, the director now directly owns 9,272,906 shares in the company, valued at $1,812,204,019.58. This trade represents a 0.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Rachit Lohani sold 658 shares of the business’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 transaction of $107,142.14. Following the transaction, the senior vice president now owns 39,764 shares of the company’s stock, 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. Insiders have sold a total of 59,971 shares of company stock worth $11,750,096 over the last 90 days. Insiders own 21.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PCTY shares. BMO Capital Markets lifted their target price on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Truist Financial upped their target price on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Piper Sandler lifted their price target on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Jefferies Financial Group lifted their target price on shares of Paylocity from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, KeyCorp boosted their price target on Paylocity from $187.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and a consensus price target of $196.64.

Paylocity Stock Up 1.7 %

Shares of PCTY opened at $205.28 on Friday. The firm has a market capitalization of $11.44 billion, a price-to-earnings ratio of 52.50, a PEG ratio of 5.06 and a beta of 0.93. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week 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 business’s fifty day moving average price is $178.10 and its two-hundred day moving average price is $159.63.

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.