Paylocity Holding Corporation $PCTY Shares Acquired by ING Groep NV

ING Groep NV increased its position in Paylocity Holding Corporation (NASDAQ:PCTY) by 135.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,700 shares of the software maker’s stock after buying an additional 12,500 shares during the quarter. ING Groep NV’s holdings in Paylocity were worth $3,309,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Millennium Management LLC raised its position in shares of Paylocity by 97.7% during the third quarter. Millennium Management LLC now owns 748,803 shares of the software maker’s stock worth $119,262,000 after purchasing an additional 369,975 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Paylocity during the third quarter worth $104,657,000. Dimensional Fund Advisors LP raised its position in shares of Paylocity by 14.2% during the third quarter. Dimensional Fund Advisors LP now owns 616,747 shares of the software maker’s stock worth $98,237,000 after purchasing an additional 76,603 shares during the period. Norges Bank acquired a new stake in shares of Paylocity during the fourth quarter worth $88,428,000. Finally, JPMorgan Chase & Co. raised its position in shares of Paylocity by 22.1% during the third quarter. JPMorgan Chase & Co. now owns 555,393 shares of the software maker’s stock worth $88,459,000 after purchasing an additional 100,400 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Ratings Changes

PCTY has been the topic of a number of recent analyst reports. KeyCorp cut their target price on Paylocity from $190.00 to $172.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 28th. Wall Street Zen lowered Paylocity from a “buy” rating to a “hold” rating in a research report on Sunday, February 22nd. Raymond James Financial set a $140.00 target price on Paylocity in a research report on Friday, May 8th. Jefferies Financial Group set a $135.00 target price on Paylocity in a research report on Saturday, May 9th. Finally, Citizens Jmp cut their target price on Paylocity from $170.00 to $150.00 and set a “market outperform” rating on the stock in a research report on Friday, May 8th. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat.com, Paylocity presently has an average rating of “Moderate Buy” and a consensus price target of $160.28.

Insiders Place Their Bets

In related news, SVP Andrew Cappotelli sold 899 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $115.05, for a total transaction of $103,429.95. Following the transaction, the senior vice president directly owned 17,679 shares of the company’s stock, valued at approximately $2,033,968.95. The trade was a 4.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 19.40% of the company’s stock.

Paylocity Stock Down 1.2%

NASDAQ:PCTY opened at $112.07 on Tuesday. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 23.90 and a beta of 0.51. Paylocity Holding Corporation has a 1-year low of $92.99 and a 1-year high of $197.78. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07. The business’s fifty day moving average price is $107.01 and its 200 day moving average price is $123.47.

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.