GW&K Investment Management LLC Has $57.60 Million Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

GW&K Investment Management LLC lowered its position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 349,398 shares of the software maker's stock after selling 24,084 shares during the period. GW&K Investment Management LLC owned about 0.62% of Paylocity worth $57,598,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PCTY. Allspring Global Investments Holdings LLC purchased a new position in Paylocity during the 4th quarter valued at about $82,172,000. Liontrust Investment Partners LLP bought a new position in Paylocity in the third quarter worth approximately $90,181,000. Clearbridge Investments LLC lifted its holdings in Paylocity by 2,212.5% during the fourth quarter. Clearbridge Investments LLC now owns 381,952 shares of the software maker's stock worth $62,965,000 after buying an additional 365,435 shares during the period. Comerica Bank bought a new stake in Paylocity during the 3rd quarter valued at $18,506,000. Finally, Westfield Capital Management Co. LP increased its holdings in shares of Paylocity by 26.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 472,517 shares of the software maker's stock valued at $85,856,000 after acquiring an additional 99,781 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Paylocity news, CEO Steven R. Beauchamp sold 7,760 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $166.95, for a total transaction of $1,295,532.00. Following the sale, the chief executive officer now directly owns 1,746,468 shares of the company's stock, valued at approximately $291,572,832.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Paylocity news, CEO Steven R. Beauchamp sold 7,760 shares of the business's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $166.95, for a total value of $1,295,532.00. Following the completion of the transaction, the chief executive officer now directly owns 1,746,468 shares of the company's stock, valued at $291,572,832.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey T. Diehl sold 20,032 shares of the firm's stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $168.55, for a total transaction of $3,376,393.60. Following the sale, the director now directly owns 16,391 shares in the company, valued at approximately $2,762,703.05. The disclosure for this sale can be found here. Insiders sold a total of 30,043 shares of company stock valued at $5,056,642 over the last 90 days. Insiders own 22.50% of the company's stock.

Paylocity Price Performance

NASDAQ:PCTY traded down $1.54 during midday trading on Monday, hitting $171.43. The company's stock had a trading volume of 262,447 shares, compared to its average volume of 496,475. Paylocity Holding Co. has a fifty-two week low of $139.40 and a fifty-two week high of $230.52. The firm's 50 day moving average is $165.56 and its 200-day moving average is $162.17. The firm has a market cap of $9.67 billion, a P/E ratio of 49.83, a P/E/G ratio of 3.24 and a beta of 0.88.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Truist Financial decreased their price objective on Paylocity from $250.00 to $200.00 and set a "buy" rating for the company in a research note on Friday, February 9th. TD Cowen cut their price objective on shares of Paylocity from $188.00 to $180.00 and set a "buy" rating on the stock in a research report on Friday, May 3rd. Mizuho decreased their target price on shares of Paylocity from $170.00 to $155.00 and set a "neutral" rating for the company in a research report on Friday, February 9th. Needham & Company LLC reaffirmed a "buy" rating and issued a $200.00 price target on shares of Paylocity in a report on Friday, May 3rd. Finally, BTIG Research began coverage on Paylocity in a research report on Tuesday, February 6th. They set a "buy" rating and a $200.00 price target on the stock. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $196.67.

About Paylocity

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.