SEB Asset Management AB Makes New Investment in Paylocity Holding Corporation $PCTY

SEB Asset Management AB purchased a new stake in Paylocity Holding Corporation (NASDAQ:PCTY) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 19,104 shares of the software maker’s stock, valued at approximately $2,064,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. AQR Capital Management LLC lifted its holdings in shares of Paylocity by 75.1% in the fourth 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. Morgan Stanley boosted its holdings in Paylocity by 117.9% during 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 last quarter. Millennium Management LLC grew its position in Paylocity by 97.7% in the third quarter. Millennium Management LLC now owns 748,803 shares of the software maker’s stock valued at $119,262,000 after purchasing an additional 369,975 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Paylocity by 6.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 659,472 shares of the software maker’s stock valued at $100,570,000 after purchasing an additional 42,725 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in Paylocity in the 3rd quarter valued at $104,657,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Transactions at Paylocity

In other news, SVP Andrew Cappotelli sold 899 shares of the firm’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 directly owned 17,679 shares of the company’s stock, valued at $2,033,968.95. This trade represents a 4.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is owned by corporate insiders.

Paylocity Stock Down 0.1%

Shares of PCTY stock opened at $120.60 on Friday. Paylocity Holding Corporation has a 52-week low of $92.99 and a 52-week high of $197.78. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 25.71 and a beta of 0.52. The firm’s 50-day moving average is $112.74 and its 200-day moving average is $115.02. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.08.

Analyst Ratings Changes

A number of equities analysts have recently commented on PCTY shares. Wall Street Zen downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. UBS Group upped their target price on Paylocity from $122.00 to $128.00 and gave the stock a “neutral” rating in a report on Wednesday. Citigroup increased their price target on Paylocity from $133.00 to $136.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Truist Financial decreased their price target on Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, June 29th. Finally, TD Cowen lowered their price target on Paylocity from $155.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $151.88.

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.