Hsbc Holdings PLC Decreases Stock Holdings in Paylocity Holding Corporation $PCTY

Hsbc Holdings PLC reduced its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 60.9% during the first quarter, HoldingsChannel.com reports. The fund owned 11,605 shares of the software maker’s stock after selling 18,048 shares during the quarter. Hsbc Holdings PLC’s holdings in Paylocity were worth $1,268,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of Paylocity by 60.8% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 47,486 shares of the software maker’s stock worth $7,249,000 after buying an additional 17,950 shares during the last quarter. Tudor Investment Corp ET AL increased its holdings in Paylocity by 50.7% during the third quarter. Tudor Investment Corp ET AL now owns 83,304 shares of the software maker’s stock worth $13,268,000 after buying an additional 28,016 shares during the last quarter. Chicago Capital LLC raised its position in Paylocity by 1,165.0% in the fourth quarter. Chicago Capital LLC now owns 97,579 shares of the software maker’s stock worth $14,881,000 after acquiring an additional 89,865 shares during the period. Pictet Asset Management Holding SA raised its position in Paylocity by 32.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 198,150 shares of the software maker’s stock worth $30,218,000 after acquiring an additional 48,380 shares during the period. Finally, UBS Group AG boosted its stake in Paylocity by 38.3% in the fourth quarter. UBS Group AG now owns 415,879 shares of the software maker’s stock valued at $63,422,000 after acquiring an additional 115,111 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PCTY shares. Robert W. Baird set a $193.00 target price on shares of Paylocity in a research report on Friday, May 8th. Truist Financial dropped their price objective on Paylocity from $180.00 to $165.00 and set a “buy” rating on the stock in a research note on Monday, June 29th. Citizens Jmp reduced their price objective on Paylocity from $170.00 to $150.00 and set a “market outperform” rating for the company in a report on Friday, May 8th. Barclays raised their target price on Paylocity from $120.00 to $128.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Finally, UBS Group boosted their target price on Paylocity from $122.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.88.

Insider Buying and Selling

In related news, SVP Andrew Cappotelli sold 899 shares of Paylocity stock in a transaction that occurred 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 directly owned 17,679 shares in the company, valued at approximately $2,033,968.95. The trade was a 4.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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

PCTY opened at $130.16 on Tuesday. The firm has a 50-day moving average price of $113.45 and a 200-day moving average price of $114.69. 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 company has a market capitalization of $6.97 billion, a price-to-earnings ratio of 27.75 and a beta of 0.52.

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.