Washington Capital Management Inc. Has $795,000 Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Washington Capital Management Inc. trimmed its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 30.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,985 shares of the software maker’s stock after selling 1,715 shares during the quarter. Washington Capital Management Inc.’s holdings in Paylocity were worth $795,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PCTY. UMB Bank n.a. lifted its stake in shares of Paylocity by 1,650.0% in the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after acquiring an additional 165 shares during the period. Prospera Private Wealth LLC bought a new stake in Paylocity in the 3rd quarter valued at about $39,000. Signaturefd LLC lifted its holdings in shares of Paylocity by 121.0% in the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after purchasing an additional 167 shares in the last quarter. Quarry LP lifted its stake in shares of Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after buying an additional 185 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Paylocity by 43.3% during the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock valued at $77,000 after purchasing an additional 116 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Stock Performance

NASDAQ:PCTY opened at $203.45 on Thursday. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $215.68. The firm has a market capitalization of $11.34 billion, a PE ratio of 52.03, a PEG ratio of 4.84 and a beta of 0.93. 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 stock’s fifty day moving average is $201.39 and its 200 day moving average is $178.43.

Wall Street Analyst Weigh In

Several equities analysts have commented on PCTY shares. Citigroup raised shares of Paylocity from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $214.00 to $231.00 in a research report on Thursday, January 16th. Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of Paylocity in a research report on Wednesday, January 15th. Jefferies Financial Group boosted their price objective on shares of Paylocity from $215.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, December 9th. BMO Capital Markets raised their price target on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Piper Sandler upped their target price on shares of Paylocity from $172.00 to $212.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Paylocity currently has an average rating of “Moderate Buy” and a consensus price target of $210.64.

Insider Buying and Selling

In other news, CAO Nicholas Rost sold 212 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $40,977.48. Following the transaction, the chief accounting officer now directly owns 7,364 shares of the company’s stock, valued at approximately $1,423,387.56. This represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey T. Diehl sold 29,606 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $196.55, for a total value of $5,819,059.30. Following the sale, the director now directly owns 11,755 shares in the company, valued at approximately $2,310,445.25. This trade represents a 71.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 157,486 shares of company stock valued at $31,751,368 over the last quarter. 21.91% of the stock is 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.