Paylocity (NASDAQ:PCTY) SVP Sells $103,429.95 in Stock

Paylocity Holding Corporation (NASDAQ:PCTY) SVP Andrew Cappotelli sold 899 shares of Paylocity stock in a transaction on Tuesday, May 19th. The shares were 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. The trade was a 4.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Trading Down 0.9%

Shares of NASDAQ PCTY traded down $1.04 during trading on Thursday, reaching $111.72. The stock had a trading volume of 544,290 shares, compared to its average volume of 847,015. Paylocity Holding Corporation has a fifty-two week low of $92.99 and a fifty-two week high of $197.91. The company has a market cap of $5.98 billion, a P/E ratio of 23.82 and a beta of 0.49. 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 business’s 50-day moving average price is $106.46 and its 200-day moving average price is $126.29.

Hedge Funds Weigh In On Paylocity

A number of large investors have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Paylocity by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,388 shares of the software maker’s stock valued at $25,551,000 after buying an additional 7,594 shares during the last quarter. Focus Partners Wealth grew its holdings in Paylocity by 24.5% during the 1st quarter. Focus Partners Wealth now owns 1,365 shares of the software maker’s stock valued at $256,000 after buying an additional 269 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Paylocity by 537.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 465 shares of the software maker’s stock valued at $84,000 after buying an additional 392 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Paylocity by 2,782.7% during the second quarter. Marshall Wace LLP now owns 35,688 shares of the software maker’s stock worth $6,466,000 after purchasing an additional 34,450 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of Paylocity by 10.0% during the second quarter. Cerity Partners LLC now owns 19,241 shares of the software maker’s stock worth $3,486,000 after purchasing an additional 1,749 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on PCTY. TD Cowen reaffirmed a “buy” rating on shares of Paylocity in a research note on Friday, February 6th. BTIG Research reduced their price objective on Paylocity from $180.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Wall Street Zen downgraded Paylocity from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. Robert W. Baird set a $193.00 price objective on Paylocity in a research note on Friday, May 8th. Finally, UBS Group upped their price objective on Paylocity from $114.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $160.28.

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.