Commerce Bank Lowers Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Commerce Bank cut its position in Paylocity Holding Co. (NASDAQ:PCTY) by 6.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,188 shares of the software maker’s stock after selling 140 shares during the quarter. Commerce Bank’s holdings in Paylocity were worth $361,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. UMB Bank n.a. grew its position in Paylocity by 1,650.0% in the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after acquiring an additional 165 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Paylocity in the third quarter valued at approximately $39,000. Rothschild Investment LLC acquired a new position in shares of Paylocity in the second quarter valued at approximately $40,000. Signaturefd LLC increased its stake in Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after buying an additional 167 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in Paylocity by 46.6% during the 1st quarter. Advisors Asset Management Inc. now owns 428 shares of the software maker’s stock worth $74,000 after buying an additional 136 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on PCTY shares. Barclays raised their price target 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. JMP Securities reiterated a “market outperform” rating and issued a $250.00 target price on shares of Paylocity in a report on Monday, August 5th. KeyCorp upped their price target on Paylocity from $187.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. BTIG Research decreased their price objective on Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, Needham & Company LLC upped their target price on shares of Paylocity from $200.00 to $220.00 and gave the stock a “buy” 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $196.64.

Paylocity Stock Up 0.8 %

Shares of NASDAQ:PCTY opened at $211.88 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. The firm has a 50 day simple moving average of $180.08 and a 200-day simple moving average of $160.07. The company has a market capitalization of $11.81 billion, a PE ratio of 54.19, a P/E/G ratio of 5.05 and a beta of 0.93. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $215.68.

Insider Activity at Paylocity

In other news, SVP Andrew Cappotelli sold 247 shares of the business’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 sale, the senior vice president now directly owns 14,634 shares of the company’s stock, valued at approximately $2,828,605.86. The trade was a 1.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Rachit Lohani sold 658 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total value of $107,142.14. Following the transaction, the senior vice president now owns 39,764 shares in the company, valued at $6,474,772.12. This represents a 1.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,277 shares of company stock valued at $14,057,311 over the last ninety days. Insiders own 21.91% of the company’s stock.

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.