WINTON GROUP Ltd Takes $4.35 Million Position in Paylocity Holding Corporation $PCTY

WINTON GROUP Ltd bought a new stake in shares of Paylocity Holding Corporation (NASDAQ:PCTYFree 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.

Paylocity (NASDAQ:PCTYGet Free Report) last announced its earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.22. The company had revenue of $444.73 million for the quarter, compared to the consensus estimate of $431.46 million. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.56 EPS. Research analysts forecast that Paylocity Holding Corporation will post 6.92 EPS for the current year.

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

(Free Report)

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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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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