Zevenbergen Capital Investments LLC Has $22.83 Million Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Zevenbergen Capital Investments LLC trimmed its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 31.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,471 shares of the software maker's stock after selling 62,193 shares during the period. Zevenbergen Capital Investments LLC owned about 0.25% of Paylocity worth $22,827,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Avior Wealth Management LLC raised its holdings in shares of Paylocity by 2.4% during the 4th quarter. Avior Wealth Management LLC now owns 3,223 shares of the software maker's stock valued at $531,000 after buying an additional 76 shares during the period. Shaker Investments LLC OH lifted its position in shares of Paylocity by 0.3% during the fourth quarter. Shaker Investments LLC OH now owns 23,672 shares of the software maker's stock worth $3,902,000 after purchasing an additional 77 shares in the last quarter. Seven Eight Capital LP boosted its stake in shares of Paylocity by 4.9% in the third quarter. Seven Eight Capital LP now owns 1,658 shares of the software maker's stock valued at $301,000 after purchasing an additional 78 shares during the period. Leelyn Smith LLC grew its holdings in Paylocity by 1.6% during the 3rd quarter. Leelyn Smith LLC now owns 5,640 shares of the software maker's stock valued at $1,025,000 after purchasing an additional 88 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in Paylocity by 8.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,150 shares of the software maker's stock worth $209,000 after buying an additional 91 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. BTIG Research started coverage on Paylocity in a research report on Tuesday, February 6th. They set a "buy" rating and a $200.00 target price on the stock. JMP Securities reiterated a "market outperform" rating and set a $250.00 target price on shares of Paylocity in a research note on Monday, January 22nd. KeyCorp lifted their price target on shares of Paylocity from $186.00 to $200.00 and gave the stock an "overweight" rating in a research note on Friday, May 3rd. Citigroup increased their price objective on shares of Paylocity from $180.00 to $182.00 and gave the company a "neutral" rating in a research note on Wednesday, January 31st. Finally, Piper Sandler dropped their target price on shares of Paylocity from $210.00 to $194.00 and set an "overweight" rating for the company in a research report on Friday, May 3rd. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Paylocity currently has an average rating of "Moderate Buy" and a consensus price target of $196.67.

Insider Buying and Selling at Paylocity

In other Paylocity news, Director Jeffrey T. Diehl sold 1,760 shares of the company's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $171.64, for a total value of $302,086.40. Following the completion of the transaction, the director now owns 14,704 shares in the company, valued at approximately $2,523,794.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Jeffrey T. Diehl sold 20,032 shares of the company's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $168.55, for a total value of $3,376,393.60. Following the completion of the sale, the director now owns 16,391 shares of the company's stock, valued at $2,762,703.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey T. Diehl sold 1,760 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $171.64, for a total transaction of $302,086.40. Following the completion of the transaction, the director now owns 14,704 shares of the company's stock, valued at approximately $2,523,794.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,043 shares of company stock worth $5,056,642. 22.50% of the stock is owned by insiders.

Paylocity Price Performance

NASDAQ:PCTY traded up $0.80 during midday trading on Friday, reaching $172.97. 275,239 shares of the company traded hands, compared to its average volume of 637,021. The firm has a market capitalization of $9.76 billion, a price-to-earnings ratio of 50.28, a price-to-earnings-growth ratio of 3.23 and a beta of 0.88. The company has a fifty day moving average price of $165.56 and a 200 day moving average price of $162.30. Paylocity Holding Co. has a twelve month low of $139.40 and a twelve month high of $230.52.

Paylocity Profile

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.