Wasatch Advisors LP Sells 33,975 Shares of Paylocity Holding Corporation $PCTY

Wasatch Advisors LP reduced its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 4.0% during the first quarter, Holdings Channel reports. The firm owned 808,012 shares of the software maker’s stock after selling 33,975 shares during the quarter. Wasatch Advisors LP’s holdings in Paylocity were worth $87,298,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Aaron Wealth Advisors LLC grew its holdings in shares of Paylocity by 63.3% during the 1st quarter. Aaron Wealth Advisors LLC now owns 7,143 shares of the software maker’s stock worth $772,000 after acquiring an additional 2,769 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of Paylocity in the 1st quarter valued at approximately $1,372,000. Hsbc Holdings PLC boosted its position in shares of Paylocity by 0.4% during the fourth quarter. Hsbc Holdings PLC now owns 29,653 shares of the software maker’s stock valued at $4,535,000 after purchasing an additional 128 shares in the last quarter. Corient Private Wealth LLC grew its stake in Paylocity by 393.4% in the fourth quarter. Corient Private Wealth LLC now owns 10,997 shares of the software maker’s stock worth $1,677,000 after purchasing an additional 8,768 shares during the period. Finally, Pacer Advisors Inc. grew its stake in Paylocity by 147.1% in the fourth quarter. Pacer Advisors Inc. now owns 14,731 shares of the software maker’s stock worth $2,246,000 after purchasing an additional 8,769 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PCTY shares. UBS Group increased their price objective on Paylocity from $114.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Raymond James Financial set a $140.00 target price on shares of Paylocity in a research report on Friday, May 8th. Jefferies Financial Group set a $135.00 price target on shares of Paylocity in a research note on Saturday, May 9th. Stephens lowered their price target on shares of Paylocity from $160.00 to $120.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. Finally, TD Cowen dropped their price objective on shares of Paylocity from $155.00 to $137.00 and set a “buy” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Paylocity presently has an average rating of “Moderate Buy” and a consensus target price of $157.44.

Paylocity Stock Up 5.8%

Shares of NASDAQ:PCTY opened at $106.35 on Friday. 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 stock has a fifty day simple moving average of $107.48 and a two-hundred day simple moving average of $119.56. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $197.78. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of 22.68 and a beta of 0.51.

Insider Buying and Selling at Paylocity

In other 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 completion of the transaction, the senior vice president owned 17,679 shares of the company’s stock, valued at $2,033,968.95. The trade was a 4.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is owned by insiders.

About Paylocity

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.