T. Rowe Price Investment Management Inc. Has $575.07 Million Position in Paylocity Holding Corporation $PCTY

T. Rowe Price Investment Management Inc. decreased its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 0.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,770,975 shares of the software maker’s stock after selling 18,542 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 7.00% of Paylocity worth $575,074,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PCTY. Flagship Harbor Advisors LLC bought a new stake in shares of Paylocity during the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Paylocity by 363.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker’s stock valued at $29,000 after acquiring an additional 149 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Paylocity in the fourth quarter valued at about $30,000. Advisory Services Network LLC acquired a new stake in Paylocity in the third quarter worth about $38,000. Finally, Parallel Advisors LLC increased its position in Paylocity by 446.2% in the fourth quarter. Parallel Advisors LLC now owns 284 shares of the software maker’s stock worth $43,000 after purchasing an additional 232 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Insider Activity

In other 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 value of $103,429.95. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is owned by company insiders.

Paylocity Stock Up 0.5%

Paylocity stock opened at $101.06 on Friday. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 21.55 and a beta of 0.51. The company’s 50 day simple moving average is $107.05 and its 200 day simple moving average is $121.24. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.08 and a quick ratio of 1.08. Paylocity Holding Corporation has a fifty-two week low of $92.99 and a fifty-two week high of $197.78.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Zacks Research upgraded shares of Paylocity from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 20th. Raymond James Financial set a $140.00 price target on shares of Paylocity in a research report on Friday, May 8th. UBS Group increased their price objective on shares of Paylocity from $114.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Stephens lowered their target price on shares of Paylocity from $160.00 to $120.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Finally, Barclays upped their target price on shares of Paylocity from $120.00 to $128.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Paylocity currently has an average rating of “Moderate Buy” and a consensus target price of $160.28.

Paylocity Company 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.