Crossmark Global Holdings Inc. Raises Position in Paylocity Holding Co. (NASDAQ:PCTY)

Crossmark Global Holdings Inc. grew its position in Paylocity Holding Co. (NASDAQ:PCTY) by 14.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,367 shares of the software maker’s stock after buying an additional 428 shares during the period. Crossmark Global Holdings Inc.’s holdings in Paylocity were worth $556,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PCTY. Price T Rowe Associates Inc. MD raised its holdings in shares of Paylocity by 3.3% during the first 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 purchasing an additional 278,607 shares during the last quarter. Capital Research Global Investors purchased a new position in shares of Paylocity during the first quarter valued at approximately $46,902,000. Millennium Management LLC raised its holdings in shares of Paylocity by 435.2% during the second quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock valued at $43,676,000 after purchasing an additional 269,354 shares during the last quarter. Liontrust Investment Partners LLP raised its holdings in shares of Paylocity by 27.1% during the second quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock valued at $106,840,000 after purchasing an additional 172,807 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Paylocity by 1,662.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 181,920 shares of the software maker’s stock valued at $23,986,000 after purchasing an additional 171,597 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 1st. KeyCorp boosted their target price on shares of Paylocity from $187.00 to $210.00 and gave the company an “overweight” 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 report on Monday, August 5th. Barclays boosted their target price on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, BMO Capital Markets boosted their target price on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $196.64.

Paylocity Price Performance

PCTY stock opened at $197.79 on Friday. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $215.68. The company’s fifty day moving average price is $174.91 and its 200-day moving average price is $158.48. 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 company has a market capitalization of $11.03 billion, a PE ratio of 50.59, a price-to-earnings-growth ratio of 5.31 and a beta of 0.93.

Insider Transactions at Paylocity

In related news, SVP Rachit Lohani sold 658 shares of the company’s stock in a transaction 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 sale, the senior vice president now owns 39,764 shares of the company’s stock, valued at $6,474,772.12. This represents a 1.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ryan Glenn sold 500 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $203.28, for a total transaction of $101,640.00. Following the sale, the chief financial officer now directly owns 52,134 shares in the company, valued at approximately $10,597,799.52. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,896 shares of company stock valued at $6,049,629. 21.91% of the stock is currently owned by corporate insiders.

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.