TD Asset Management Inc Sells 6,682 Shares of Paylocity Holding Corporation $PCTY

TD Asset Management Inc decreased its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 260,058 shares of the software maker’s stock after selling 6,682 shares during the period. TD Asset Management Inc owned about 0.48% of Paylocity worth $39,659,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in Paylocity by 97.7% during the third quarter. Millennium Management LLC now owns 748,803 shares of the software maker’s stock worth $119,262,000 after purchasing an additional 369,975 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Paylocity during the 3rd quarter worth $104,657,000. Dimensional Fund Advisors LP raised its holdings in shares of Paylocity by 14.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 616,747 shares of the software maker’s stock worth $98,237,000 after buying an additional 76,603 shares in the last quarter. Norges Bank acquired a new position in shares of Paylocity during the 4th quarter worth $88,428,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Paylocity by 22.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 555,393 shares of the software maker’s stock worth $88,459,000 after buying an additional 100,400 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Insider Activity at Paylocity

In other news, SVP Andrew Cappotelli sold 899 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $115.05, for a total value of $103,429.95. Following the completion of the transaction, the senior vice president directly owned 17,679 shares in the company, valued at approximately $2,033,968.95. This represents a 4.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 19.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Citigroup boosted their price target on Paylocity from $133.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Jefferies Financial Group set a $135.00 price target on shares of Paylocity in a research note on Saturday, May 9th. Barclays raised their price target on shares of Paylocity from $120.00 to $128.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Citizens Jmp reduced their price target on shares of Paylocity from $170.00 to $150.00 and set a “market outperform” rating on the stock in a research note on Friday, May 8th. Finally, Wall Street Zen downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $160.28.

Paylocity Stock Up 0.7%

Shares of PCTY opened at $113.46 on Friday. Paylocity Holding Corporation has a 52 week low of $92.99 and a 52 week high of $197.78. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 24.19 and a beta of 0.51. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a fifty day moving average of $106.99 and a 200-day moving average of $123.86.

Paylocity Company Profile

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.