Landscape Capital Management L.L.C. raised its stake in Paylocity Holding Corporation (NASDAQ:PCTY – Free Report) by 27.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,946 shares of the software maker’s stock after acquiring an additional 9,036 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Paylocity were worth $6,397,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in PCTY. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Paylocity by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,388 shares of the software maker’s stock worth $25,551,000 after acquiring an additional 7,594 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of Paylocity by 24.5% in the first quarter. Focus Partners Wealth now owns 1,365 shares of the software maker’s stock worth $256,000 after acquiring an additional 269 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Paylocity by 537.0% in the second quarter. EverSource Wealth Advisors LLC now owns 465 shares of the software maker’s stock worth $84,000 after acquiring an additional 392 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Paylocity by 2,782.7% in the second quarter. Marshall Wace LLP now owns 35,688 shares of the software maker’s stock worth $6,466,000 after acquiring an additional 34,450 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of Paylocity by 10.0% in the second quarter. Cerity Partners LLC now owns 19,241 shares of the software maker’s stock worth $3,486,000 after acquiring an additional 1,749 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the company. KeyCorp cut their price objective on Paylocity from $190.00 to $172.00 and set an “overweight” rating on the stock in a report on Tuesday, April 28th. Weiss Ratings restated a “sell (d+)” rating on shares of Paylocity in a research report on Friday, April 24th. Barclays boosted their price objective on Paylocity from $120.00 to $128.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Citigroup boosted their price objective on Paylocity from $133.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Zacks Research upgraded Paylocity from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $160.28.
Paylocity Stock Up 0.6%
Paylocity stock opened at $108.84 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.08. Paylocity Holding Corporation has a 52-week low of $92.99 and a 52-week high of $197.78. The firm has a 50 day moving average price of $107.30 and a two-hundred day moving average price of $122.64. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 23.21 and a beta of 0.51.
Insider Buying and Selling at Paylocity
In other news, SVP Andrew Cappotelli sold 899 shares of Paylocity stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $115.05, for a total value of $103,429.95. Following the completion of the sale, the senior vice president owned 17,679 shares in the company, valued at $2,033,968.95. The trade was a 4.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is owned by corporate insiders.
About Paylocity
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.
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