GW&K Investment Management LLC Sells 20,922 Shares of Paylocity Holding Corporation $PCTY

GW&K Investment Management LLC decreased its holdings in Paylocity Holding Corporation (NASDAQ:PCTY) by 5.7% in the fourth quarter, Holdings Channel reports. The fund owned 348,909 shares of the software maker’s stock after selling 20,922 shares during the quarter. GW&K Investment Management LLC’s holdings in Paylocity were worth $53,209,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PCTY. Millennium Management LLC increased its stake in 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 acquiring an additional 369,975 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Paylocity in the third quarter valued at $104,657,000. Dimensional Fund Advisors LP raised its stake in shares of Paylocity by 14.2% in the third quarter. Dimensional Fund Advisors LP now owns 616,747 shares of the software maker’s stock valued at $98,237,000 after acquiring an additional 76,603 shares during the period. Norges Bank bought a new stake in shares of Paylocity in the 4th quarter worth about $88,428,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Paylocity by 22.1% during the 3rd 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. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Activity

In related news, SVP Andrew Cappotelli sold 899 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president owned 17,679 shares in the company, valued at approximately $2,033,968.95. The trade was a 4.84% decrease in their ownership of the stock. The sale was disclosed in a document filed 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.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PCTY. Citigroup upped their price target on shares of Paylocity from $133.00 to $136.00 and gave the company a “buy” rating in a report on Monday, May 11th. Citizens Jmp dropped their target price on Paylocity from $170.00 to $150.00 and set a “market outperform” rating for the company in a research report on Friday, May 8th. UBS Group increased their price target on Paylocity from $114.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Wall Street Zen lowered Paylocity from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. Finally, Robert W. Baird set a $193.00 price objective on Paylocity in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $160.28.

Paylocity Price Performance

Paylocity stock opened at $113.14 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 24.12 and a beta of 0.51. The firm has a 50-day moving average of $107.16 and a two-hundred day moving average of $123.26. Paylocity Holding Corporation has a 1 year low of $92.99 and a 1 year high of $197.78.

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.