Mirae Asset Global Investments Co. Ltd. Decreases Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 83.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218 shares of the software maker’s stock after selling 1,094 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Paylocity were worth $35,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Daiwa Securities Group Inc. lifted its stake in Paylocity by 3.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 2,900 shares of the software maker’s stock worth $498,000 after purchasing an additional 100 shares in the last quarter. King Luther Capital Management Corp lifted its stake in Paylocity by 1.0% in the 2nd quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker’s stock worth $1,316,000 after purchasing an additional 103 shares in the last quarter. J.Safra Asset Management Corp lifted its stake in Paylocity by 80.0% in the 1st quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock worth $42,000 after purchasing an additional 108 shares in the last quarter. SkyOak Wealth LLC lifted its stake in Paylocity by 7.1% in the 2nd quarter. SkyOak Wealth LLC now owns 1,837 shares of the software maker’s stock worth $242,000 after purchasing an additional 122 shares in the last quarter. Finally, Toronto Dominion Bank lifted its stake in Paylocity by 2.9% in the 2nd quarter. Toronto Dominion Bank now owns 4,413 shares of the software maker’s stock worth $582,000 after purchasing an additional 126 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on PCTY shares. StockNews.com raised shares of Paylocity from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets raised their price target on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Needham & Company LLC raised their price target on shares of Paylocity from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JMP Securities restated a “market outperform” rating and set a $250.00 price target on shares of Paylocity in a report on Monday, August 5th. Finally, KeyCorp raised their price target on shares of Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $194.20.

Insiders Place Their Bets

In other Paylocity news, SVP Rachit Lohani sold 658 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total value of $107,142.14. Following the completion of the transaction, the senior vice president now owns 39,764 shares in the company, valued at $6,474,772.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 21.91% of the company’s stock.

Paylocity Stock Performance

NASDAQ:PCTY opened at $197.00 on Wednesday. The company has a fifty day simple moving average of $166.98 and a two-hundred day simple moving average of $155.58. The company has a market cap of $10.98 billion, a price-to-earnings ratio of 50.38, a price-to-earnings-growth ratio of 4.64 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 $197.25.

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.