Renaissance Technologies LLC Has $25.39 Million Holdings in Paylocity Holding Corporation $PCTY

Renaissance Technologies LLC boosted its position in Paylocity Holding Corporation (NASDAQ:PCTY) by 1,406.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 235,000 shares of the software maker’s stock after buying an additional 219,400 shares during the period. Renaissance Technologies LLC owned approximately 0.44% of Paylocity worth $25,389,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PCTY. Flagship Harbor Advisors LLC acquired a new stake in Paylocity during the 4th quarter worth about $27,000. Los Angeles Capital Management LLC bought a new stake in shares of Paylocity during the 4th quarter valued at about $30,000. Advisory Services Network LLC bought a new stake in shares of Paylocity during the 3rd quarter valued at about $38,000. Allworth Financial LP grew its stake in Paylocity by 88.0% during the third quarter. Allworth Financial LP now owns 282 shares of the software maker’s stock worth $45,000 after purchasing an additional 132 shares during the period. Finally, Parallel Advisors LLC grew its stake in Paylocity by 446.2% during the fourth quarter. Parallel Advisors LLC now owns 284 shares of the software maker’s stock worth $43,000 after purchasing an additional 232 shares during the period. Institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PCTY. Zacks Research lowered Paylocity from a “strong-buy” rating to a “hold” rating in a research note on Monday. BMO Capital Markets raised their price objective on shares of Paylocity from $135.00 to $143.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Citizens Jmp lowered their price objective on shares of Paylocity from $170.00 to $150.00 and set a “market outperform” rating for the company in a research note on Friday, May 8th. Barclays boosted their target price on shares of Paylocity from $120.00 to $128.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Paylocity in a research note on Tuesday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Paylocity currently has a consensus rating of “Moderate Buy” and an average price target of $151.88.

Paylocity Stock Up 4.4%

PCTY stock opened at $144.79 on Thursday. The stock’s 50 day simple moving average is $114.60 and its 200 day simple moving average is $114.52. Paylocity Holding Corporation has a fifty-two week low of $92.99 and a fifty-two week high of $197.78. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $7.75 billion, a P/E ratio of 30.87 and a beta of 0.52.

Insider Activity at Paylocity

In other 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 transaction of $103,429.95. Following the completion of the sale, the senior vice president owned 17,679 shares in the company, valued at $2,033,968.95. The trade was a 4.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is currently owned by corporate insiders.

Paylocity 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.