Nomura Asset Management Co. Ltd. Decreases Holdings in Paylocity Holding Corporation $PCTY

Nomura Asset Management Co. Ltd. cut its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 59.5% during the 4th quarter, HoldingsChannel reports. The fund owned 6,343 shares of the software maker’s stock after selling 9,310 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Paylocity were worth $967,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. MUFG Securities EMEA plc purchased a new position in shares of Paylocity during the fourth quarter worth approximately $418,000. BNP Paribas Financial Markets raised its stake in shares of Paylocity by 261.2% during the fourth quarter. BNP Paribas Financial Markets now owns 534,487 shares of the software maker’s stock worth $81,509,000 after acquiring an additional 386,494 shares in the last quarter. Norges Bank purchased a new position in shares of Paylocity during the fourth quarter worth approximately $88,428,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Paylocity in the fourth quarter worth $131,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in shares of Paylocity in the fourth quarter worth $321,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Paylocity Stock Up 0.7%

Shares of Paylocity stock opened at $113.46 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 company’s fifty day simple moving average is $106.99 and its two-hundred day simple moving average is $123.86. The company has a market cap of $6.07 billion, a P/E ratio of 24.19 and a beta of 0.51. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $197.78.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Paylocity in a research note on Friday, April 24th. Stephens decreased their target price on shares of Paylocity from $160.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. Jefferies Financial Group set a $135.00 target price on shares of Paylocity in a research note on Saturday, May 9th. Raymond James Financial set a $140.00 target price on shares of Paylocity in a research note on Friday, May 8th. Finally, BMO Capital Markets lifted their target price on shares of Paylocity from $135.00 to $143.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Paylocity currently has an average rating of “Moderate Buy” and a consensus price target of $160.28.

Insider Transactions at Paylocity

In other Paylocity news, SVP Andrew Cappotelli sold 899 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $115.05, for a total transaction of $103,429.95. Following the transaction, the senior vice president directly owned 17,679 shares of the company’s stock, valued at approximately $2,033,968.95. The trade was a 4.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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.

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.