HighTower Advisors LLC Raises Stake in Paylocity Holding Corporation $PCTY

HighTower Advisors LLC increased its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 15.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 88,093 shares of the software maker’s stock after buying an additional 11,874 shares during the period. HighTower Advisors LLC’s holdings in Paylocity were worth $13,434,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Federated Hermes Inc. raised its stake in shares of Paylocity by 1.6% in the third quarter. Federated Hermes Inc. now owns 4,848 shares of the software maker’s stock worth $772,000 after purchasing an additional 78 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Paylocity by 2.5% in the third quarter. PNC Financial Services Group Inc. now owns 3,313 shares of the software maker’s stock worth $528,000 after buying an additional 81 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Paylocity by 35.0% during the second quarter. Smartleaf Asset Management LLC now owns 428 shares of the software maker’s stock valued at $77,000 after buying an additional 111 shares during the period. True Wealth Design LLC increased its holdings in Paylocity by 43.4% during the fourth quarter. True Wealth Design LLC now owns 410 shares of the software maker’s stock valued at $63,000 after buying an additional 124 shares during the last quarter. Finally, Allworth Financial LP raised its position in Paylocity by 88.0% in the third quarter. Allworth Financial LP now owns 282 shares of the software maker’s stock worth $45,000 after acquiring an additional 132 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Insider Activity at Paylocity

In related news, SVP Andrew Cappotelli sold 899 shares of the company’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 completion of the transaction, the senior vice president owned 17,679 shares in the company, valued at approximately $2,033,968.95. This represents a 4.84% decrease in their ownership of the stock. The sale 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. Company insiders own 19.40% of the company’s stock.

Paylocity Price Performance

NASDAQ PCTY opened at $113.02 on Monday. Paylocity Holding Corporation has a 12 month low of $92.99 and a 12 month high of $197.91. 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 stock has a market cap of $6.05 billion, a PE ratio of 24.10 and a beta of 0.49. The stock’s 50 day moving average is $106.39 and its 200 day moving average is $125.88.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PCTY shares. 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. Mizuho reduced their price target on Paylocity from $180.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, February 6th. BMO Capital Markets raised their price objective on Paylocity from $135.00 to $143.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Citigroup boosted their price objective on Paylocity from $133.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Finally, Jefferies Financial Group set a $135.00 target price on shares of Paylocity in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.