Cerity Partners LLC Invests $212,000 in Paylocity Holding Co. (NASDAQ:PCTY)

Cerity Partners LLC purchased a new position in shares of Paylocity Holding Co. (NASDAQ:PCTYGet Rating) in the second quarter, HoldingsChannel reports. The institutional investor purchased 1,215 shares of the software maker’s stock, valued at approximately $212,000.

A number of other large investors also recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of Paylocity by 0.9% during the first quarter. BlackRock Inc. now owns 4,089,361 shares of the software maker’s stock worth $841,466,000 after buying an additional 35,661 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Paylocity by 20.7% during the first quarter. Invesco Ltd. now owns 1,382,116 shares of the software maker’s stock worth $284,399,000 after buying an additional 236,876 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Paylocity by 0.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,165,374 shares of the software maker’s stock worth $239,799,000 after buying an additional 7,627 shares during the last quarter. State Street Corp lifted its holdings in shares of Paylocity by 4.4% during the first quarter. State Street Corp now owns 1,041,583 shares of the software maker’s stock worth $214,327,000 after buying an additional 44,059 shares during the last quarter. Finally, Riverbridge Partners LLC lifted its holdings in shares of Paylocity by 0.3% during the second quarter. Riverbridge Partners LLC now owns 796,588 shares of the software maker’s stock worth $138,941,000 after buying an additional 2,291 shares during the last quarter. 72.35% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $208.92 on Wednesday. The business’s fifty day moving average price is $228.88 and its two-hundred day moving average price is $211.44. Paylocity Holding Co. has a fifty-two week low of $152.01 and a fifty-two week high of $276.88. The stock has a market capitalization of $11.63 billion, a price-to-earnings ratio of 130.58 and a beta of 1.08.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Credit Suisse Group upped their target price on Paylocity to $240.00 in a research note on Tuesday, August 9th. Mizuho upped their target price on Paylocity from $185.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, August 5th. Citigroup cut their target price on Paylocity from $294.00 to $255.00 in a research note on Friday, October 21st. Cowen upped their target price on Paylocity from $240.00 to $265.00 in a research note on Friday, August 5th. Finally, Robert W. Baird upped their target price on Paylocity from $274.00 to $305.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $259.00.

Insider Transactions at Paylocity

In other news, Director Ronald V. Waters sold 3,000 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $247.09, for a total transaction of $741,270.00. Following the sale, the director now owns 9,613 shares in the company, valued at $2,375,276.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 26.50% of the company’s stock.

Paylocity Profile

(Get Rating)

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.

Further Reading

Want to see what other hedge funds are holding PCTY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paylocity Holding Co. (NASDAQ:PCTYGet Rating).

Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

Receive News & Ratings for Paylocity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paylocity and related companies with MarketBeat.com's FREE daily email newsletter.