Paylocity Holding Corporation $PCTY Stock Position Lessened by Riverbridge Partners LLC

Riverbridge Partners LLC trimmed its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY – Free Report) by 6.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 462,019 shares of the software maker’s stock after selling 31,444 shares during the period. Paylocity makes up approximately 1.2% of Riverbridge Partners LLC’s investment portfolio, making the stock its 25th largest holding. Riverbridge Partners LLC’s holdings in Paylocity were worth $49,917,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alyeska Investment Group L.P. bought a new stake in shares of Paylocity during the 3rd quarter worth about $104,657,000. Norges Bank acquired a new stake in Paylocity in the fourth quarter worth approximately $88,428,000. Morgan Stanley lifted its position in Paylocity by 117.9% in the fourth quarter. Morgan Stanley now owns 817,209 shares of the software maker’s stock worth $124,625,000 after purchasing an additional 442,218 shares during the period. AQR Capital Management LLC boosted its stake in Paylocity by 75.1% during the 4th quarter. AQR Capital Management LLC now owns 943,591 shares of the software maker’s stock valued at $143,747,000 after purchasing an additional 404,605 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Paylocity by 261.2% during the 4th quarter. BNP Paribas Financial Markets now owns 534,487 shares of the software maker’s stock valued at $81,509,000 after purchasing an additional 386,494 shares during the period. 94.76% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In related news, SVP Andrew Cappotelli sold 899 shares of Paylocity stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $115.05, for a total value of $103,429.95. Following the transaction, the senior vice president owned 17,679 shares of the company’s stock, valued at approximately $2,033,968.95. This trade represents a 4.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 19.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Citigroup raised their target price on Paylocity from $133.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday. Robert W. Baird set a $193.00 price target on shares of Paylocity in a report on Friday, May 8th. Zacks Research upgraded shares of Paylocity from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 20th. Finally, Citizens Jmp lowered their price objective on shares of Paylocity from $170.00 to $150.00 and set a “market outperform” rating on the stock in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $160.28.

Check Out Our Latest Stock Analysis on PCTY

Paylocity Stock Performance

Shares of NASDAQ PCTY opened at $100.89 on Wednesday. The stock’s fifty day simple moving average is $107.22 and its 200 day simple moving average is $120.27. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 21.51 and a beta of 0.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a 52-week low of $92.99 and a 52-week high of $197.78.

About Paylocity

(Free Report)

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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