Entropy Technologies LP Reduces Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Entropy Technologies LP reduced its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 74.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,231 shares of the software maker’s stock after selling 3,600 shares during the period. Entropy Technologies LP’s holdings in Paylocity were worth $203,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PCTY. Price T Rowe Associates Inc. MD lifted its position in Paylocity by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock valued at $1,518,176,000 after purchasing an additional 278,607 shares in the last quarter. Capital Research Global Investors bought a new position in shares of Paylocity during the 1st quarter valued at approximately $46,902,000. Millennium Management LLC raised its stake in Paylocity by 435.2% during the 2nd quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock worth $43,676,000 after acquiring an additional 269,354 shares during the period. Liontrust Investment Partners LLP boosted its position in shares of Paylocity by 27.1% in the second quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock worth $106,840,000 after purchasing an additional 172,807 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of Paylocity by 1,662.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 181,920 shares of the software maker’s stock worth $23,986,000 after purchasing an additional 171,597 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

Paylocity Price Performance

Shares of Paylocity stock opened at $197.79 on Monday. The stock has a 50 day moving average price of $174.91 and a 200-day moving average price of $158.50. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $215.68. The stock has a market cap of $11.03 billion, a price-to-earnings ratio of 50.59, a price-to-earnings-growth ratio of 4.96 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.

Insiders Place Their Bets

In related news, SVP Rachit Lohani sold 658 shares of Paylocity stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total transaction of $107,142.14. Following the completion of the transaction, the senior vice president now directly owns 39,764 shares of the company’s stock, valued at approximately $6,474,772.12. The trade was a 1.63 % decrease in their position. The transaction 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 stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $196.55, for a total transaction of $5,819,059.30. Following the completion of the sale, the director now directly owns 11,755 shares in the company, valued at $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 sold 30,896 shares of company stock valued at $6,049,629 over the last three months. 21.91% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PCTY has been the topic of a number of analyst reports. BMO Capital Markets lifted their target price on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Truist Financial lifted their target price on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com lowered shares of Paylocity from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Jefferies Financial Group boosted their target price on shares of Paylocity from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Barclays raised their target price on shares of Paylocity from $174.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $196.64.

Paylocity Company 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.