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

GW&K Investment Management LLC reduced its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 348,909 shares of the software maker’s stock after selling 20,922 shares during the period. GW&K Investment Management LLC owned 0.65% of Paylocity worth $53,209,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PCTY. Alyeska Investment Group L.P. purchased a new position in Paylocity during the third quarter valued at approximately $104,657,000. Norges Bank purchased a new stake in shares of Paylocity in the fourth quarter worth $88,428,000. BNP Paribas Financial Markets raised its position in shares of Paylocity by 261.2% during the 4th quarter. BNP Paribas Financial Markets now owns 534,487 shares of the software maker’s stock valued at $81,509,000 after purchasing an additional 386,494 shares during the period. AQR Capital Management LLC lifted its stake in shares of Paylocity by 500.6% during the 2nd quarter. AQR Capital Management LLC now owns 449,935 shares of the software maker’s stock valued at $81,438,000 after buying an additional 375,023 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Paylocity by 97.7% during the 3rd quarter. Millennium Management LLC now owns 748,803 shares of the software maker’s stock valued at $119,262,000 after buying an additional 369,975 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Paylocity news, SVP Andrew Cappotelli sold 899 shares of Paylocity 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 sale, the senior vice president owned 17,679 shares of the company’s stock, valued at $2,033,968.95. The trade was a 4.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PCTY has been the topic of a number of recent analyst reports. Zacks Research raised Paylocity from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 20th. Stephens dropped their price objective on Paylocity from $160.00 to $120.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. KeyCorp cut their target price on Paylocity from $190.00 to $172.00 and set an “overweight” rating for the company in a research report on Tuesday, April 28th. Barclays boosted their price target on Paylocity from $120.00 to $128.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Finally, Raymond James Financial set a $140.00 price target on Paylocity in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $160.28.

Paylocity Trading Up 1.0%

Shares of Paylocity stock opened at $113.14 on Wednesday. Paylocity Holding Corporation has a twelve month low of $92.99 and a twelve month high of $197.78. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $107.16 and a 200-day moving average price of $123.26. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 24.12 and a beta of 0.51.

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.