Wellington Management Group LLP Boosts Stake in Paylocity Holding Corporation $PCTY

Wellington Management Group LLP raised its position in Paylocity Holding Corporation (NASDAQ:PCTY) by 77.0% during the second quarter, Holdings Channel reports. The firm owned 244,492 shares of the software maker’s stock after buying an additional 106,326 shares during the quarter. Wellington Management Group LLP’s holdings in Paylocity were worth $25,557,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Caitlin John LLC purchased a new position in shares of Paylocity during the second quarter worth $530,000. Jefferies Financial Group Inc. purchased a new stake in shares of Paylocity in the 2nd quarter valued at $1,019,000. Public Employees Retirement System of Ohio acquired a new position in Paylocity during the 2nd quarter worth about $1,306,000. Capstone Investment Advisors LLC purchased a new position in Paylocity during the 2nd quarter valued at about $596,000. Finally, Proficio Capital Partners LLC purchased a new position in Paylocity during the 2nd quarter valued at about $348,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Stock Down 1.4%

Shares of Paylocity stock opened at $152.25 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a 52-week low of $92.99 and a 52-week high of $178.91. The company has a market capitalization of $8.08 billion, a P/E ratio of 30.76 and a beta of 0.45. The company has a 50 day moving average of $136.65 and a 200 day moving average of $117.84.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.22. The company had revenue of $444.73 million for the quarter, compared to analysts’ expectations of $431.46 million. Paylocity had a return on equity of 27.02% and a net margin of 15.23%.Paylocity’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $1.56 earnings per share. As a group, research analysts forecast that Paylocity Holding Corporation will post 6.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PCTY has been the topic of several research reports. Citigroup reissued a “buy” rating on shares of Paylocity in a research report on Thursday, August 6th. Robert W. Baird set a $201.00 target price on shares of Paylocity in a research note on Wednesday, August 5th. Truist Financial reduced their target price on shares of Paylocity from $180.00 to $165.00 and set a “buy” rating on the stock in a report on Monday, June 29th. Weiss Ratings raised shares of Paylocity from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $160.53.

Insider Activity

In other news, CFO Ryan Glenn sold 3,345 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $149.75, for a total value of $500,913.75. Following the completion of the sale, the chief financial officer directly owned 122,563 shares of the company’s stock, valued at approximately $18,353,809.25. This represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew Cappotelli sold 2,550 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $149.83, for a total transaction of $382,066.50. Following the transaction, the senior vice president owned 44,329 shares in the company, valued at approximately $6,641,814.07. This trade represents a 5.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 54,145 shares of company stock worth $8,312,067 over the last three months. Company 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.