Leelyn Smith LLC Acquires 908 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Leelyn Smith LLC boosted its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 11.8% in the third quarter, HoldingsChannel reports. The fund owned 8,581 shares of the software maker’s stock after acquiring an additional 908 shares during the period. Leelyn Smith LLC’s holdings in Paylocity were worth $1,416,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PCTY. Price T Rowe Associates Inc. MD increased its position in 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 valued at $1,518,176,000 after buying an additional 278,607 shares in the last quarter. Liontrust Investment Partners LLP raised its position in shares of Paylocity by 27.1% in the 2nd 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. Van Berkom & Associates Inc. boosted its stake in Paylocity by 20.5% in the 2nd quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker’s stock worth $76,447,000 after purchasing an additional 98,478 shares in the last quarter. Bank of New York Mellon Corp grew its position in Paylocity by 4.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 472,686 shares of the software maker’s stock valued at $62,324,000 after purchasing an additional 21,127 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in 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 purchasing an additional 123,744 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jeffrey T. Diehl sold 946 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $204.74, for a total value of $193,684.04. Following the completion of the transaction, the director now owns 1,767 shares of the company’s stock, valued at $361,775.58. This represents a 34.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven I. Sarowitz sold 15,444 shares of Paylocity 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,971 shares of company stock worth $11,750,096. Company insiders own 21.91% of the company’s stock.

Paylocity Stock Up 1.7 %

NASDAQ PCTY opened at $205.28 on Friday. The stock’s 50-day moving average price is $178.10 and its 200-day moving average price is $159.63. The company has a market capitalization of $11.44 billion, a P/E ratio of 52.50, a price-to-earnings-growth ratio of 5.06 and a beta of 0.93. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $215.68.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Piper Sandler increased their price objective on Paylocity from $172.00 to $212.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. BMO Capital Markets boosted 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. JMP Securities restated a “market outperform” rating and set a $250.00 target price on shares of Paylocity in a research note on Monday, August 5th. Finally, BTIG Research dropped their target price on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Paylocity presently has an average rating of “Moderate Buy” and a consensus target price of $196.64.

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.