WINTON GROUP Ltd bought a new stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 41,634 shares of the software maker’s stock, valued at approximately $4,352,000.
A number of other hedge funds have also recently bought and sold shares of the company. California State Teachers Retirement System grew its stake in shares of Paylocity by 18.9% in the 1st quarter. California State Teachers Retirement System now owns 49,614 shares of the software maker’s stock worth $5,360,000 after purchasing an additional 7,891 shares during the last quarter. Deutsche Bank AG acquired a new stake in Paylocity during the second quarter valued at approximately $54,906,000. BlackRock Inc. bought a new stake in Paylocity during the second quarter worth approximately $430,315,000. Ieq Capital LLC bought a new stake in Paylocity during the second quarter worth approximately $20,119,000. Finally, Royal Bank of Canada grew its position in Paylocity by 40.5% in the first quarter. Royal Bank of Canada now owns 134,181 shares of the software maker’s stock worth $14,496,000 after buying an additional 38,697 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.
Paylocity Trading Up 0.5%
Paylocity stock opened at $142.86 on Friday. The company has a 50 day moving average price of $139.53 and a 200 day moving average price of $118.98. Paylocity Holding Corporation has a 52 week low of $92.99 and a 52 week high of $172.63. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of 28.86 and a beta of 0.45.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the company. Weiss Ratings raised Paylocity from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. KeyCorp raised their price objective on Paylocity from $172.00 to $178.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Wall Street Zen cut Paylocity from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Truist Financial cut their target price on Paylocity from $180.00 to $165.00 and set a “buy” rating on the stock in a research report on Monday, June 29th. Finally, BMO Capital Markets upped their target price on Paylocity from $143.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Paylocity presently has an average rating of “Moderate Buy” and an average target price of $160.53.
Check Out Our Latest Research Report on Paylocity
Insider Buying and Selling at Paylocity
In related news, SVP Joshua Scutt sold 4,730 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $149.82, for a total value of $708,648.60. Following the completion of the sale, the senior vice president directly owned 75,729 shares of the company’s stock, valued at approximately $11,345,718.78. This represents a 5.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven I. Sarowitz sold 19,459 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $157.78, for a total value of $3,070,241.02. Following the sale, the director owned 4,453,495 shares of the company’s stock, valued at $702,672,441.10. The trade was a 0.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 54,214 shares of company stock valued at $8,322,580 in the last ninety days. Company insiders own 19.40% of the company’s stock.
Paylocity Profile
Paylocity Holding Corporation is a provider of cloud-based human capital management (HCM) and workforce management software. Its platform is designed to help organizations manage payroll, human resources, employee benefits, talent, compliance and workforce operations through a unified system.
The company’s products and services include payroll processing, time and labor management, benefits administration, recruiting, onboarding, performance management, employee surveys and workplace communication tools.
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