Paylocity Holding Corporation (NASDAQ:PCTY – Get Free Report)’s share price traded up 5.7% during trading on Tuesday . The company traded as high as $119.67 and last traded at $120.2240. 150,867 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 828,584 shares. The stock had previously closed at $113.77.
Analyst Upgrades and Downgrades
PCTY has been the subject of several recent research reports. Truist Financial lowered their price objective on Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a research report on Monday, June 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Paylocity in a research note on Friday, April 24th. Jefferies Financial Group set a $135.00 price target on shares of Paylocity in a report on Saturday, May 9th. Barclays increased their price target on shares of Paylocity from $120.00 to $128.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Finally, Robert W. Baird set a $193.00 price target on shares of Paylocity in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.61.
View Our Latest Report on Paylocity
Paylocity Trading Up 4.6%
Insider Buying and Selling
In related news, SVP Andrew Cappotelli sold 899 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was 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 of the company’s stock, valued at $2,033,968.95. This trade represents a 4.84% decrease in their ownership of the stock. The sale 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 insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Optiver Holding B.V. lifted its position in shares of Paylocity by 5,925.0% in the 1st quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock worth $26,000 after purchasing an additional 237 shares during the period. Flagship Harbor Advisors LLC purchased a new position in shares of Paylocity during the fourth quarter valued at about $27,000. Basecamp Wealth Advisors LLC raised its stake in Paylocity by 4,250.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock worth $28,000 after buying an additional 255 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Paylocity by 363.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker’s stock worth $29,000 after buying an additional 149 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in Paylocity in the fourth quarter worth about $30,000. 94.76% of the stock is currently owned by institutional investors.
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.
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