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

TD Asset Management Inc reduced its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 260,058 shares of the software maker’s stock after selling 6,682 shares during the period. TD Asset Management Inc’s holdings in Paylocity were worth $39,659,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Flagship Harbor Advisors LLC bought a new position in Paylocity during the 4th quarter worth $27,000. MassMutual Private Wealth & Trust FSB raised its position in Paylocity by 363.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker’s stock worth $29,000 after purchasing an additional 149 shares during the last quarter. Advisory Services Network LLC bought a new position in Paylocity during the 3rd quarter worth $38,000. Allworth Financial LP raised its position in Paylocity by 88.0% during the 3rd quarter. Allworth Financial LP now owns 282 shares of the software maker’s stock worth $45,000 after purchasing an additional 132 shares during the last quarter. Finally, Leonteq Securities AG bought a new position in Paylocity during the 4th quarter worth $45,000. 94.76% of the stock is owned by institutional investors.

Paylocity Stock Performance

Shares of Paylocity stock opened at $113.46 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $106.99 and a two-hundred day moving average price of $123.86. Paylocity Holding Corporation has a 1-year low of $92.99 and a 1-year high of $197.78. The company has a market cap of $6.07 billion, a P/E ratio of 24.19 and a beta of 0.51.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PCTY shares. KeyCorp lowered their target price on Paylocity from $190.00 to $172.00 and set an “overweight” rating for the company in a research report on Tuesday, April 28th. BMO Capital Markets raised their target price on Paylocity from $135.00 to $143.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Citizens Jmp lowered their target price on Paylocity from $170.00 to $150.00 and set a “market outperform” rating for the company in a research report on Friday, May 8th. UBS Group raised their target price on Paylocity from $114.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, Barclays raised their target price on Paylocity from $120.00 to $128.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $160.28.

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.