Dockside LLC Takes $4.53 Million Position in Paylocity Holding Corporation $PCTY

Dockside LLC acquired a new stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 29,683 shares of the software maker’s stock, valued at approximately $4,527,000. Paylocity makes up about 1.2% of Dockside LLC’s investment portfolio, making the stock its 17th largest position. Dockside LLC owned 0.06% of Paylocity as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PCTY. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Paylocity by 5.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,388 shares of the software maker’s stock valued at $25,551,000 after purchasing an additional 7,594 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of Paylocity by 24.5% during the first quarter. Focus Partners Wealth now owns 1,365 shares of the software maker’s stock valued at $256,000 after purchasing an additional 269 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Paylocity by 537.0% during the second quarter. EverSource Wealth Advisors LLC now owns 465 shares of the software maker’s stock valued at $84,000 after purchasing an additional 392 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Paylocity by 2,782.7% during the second quarter. Marshall Wace LLP now owns 35,688 shares of the software maker’s stock valued at $6,466,000 after purchasing an additional 34,450 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of Paylocity by 10.0% during the second quarter. Cerity Partners LLC now owns 19,241 shares of the software maker’s stock valued at $3,486,000 after purchasing an additional 1,749 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

Paylocity Trading Up 0.6%

Shares of Paylocity stock opened at $108.84 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a fifty day moving average price of $107.30 and a 200 day moving average price of $122.64. Paylocity Holding Corporation has a 1 year low of $92.99 and a 1 year high of $197.78. The stock has a market cap of $5.83 billion, a PE ratio of 23.21 and a beta of 0.51.

Insider Activity

In related news, SVP Andrew Cappotelli sold 899 shares of the firm’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 of the company’s stock, valued at $2,033,968.95. This trade represents a 4.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 currently owned by company insiders.

Analyst Ratings Changes

PCTY has been the subject of several recent analyst reports. Raymond James Financial set a $140.00 target price on shares of Paylocity in a research note on Friday, May 8th. Zacks Research upgraded shares of Paylocity from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 20th. Barclays raised their target price on shares of Paylocity from $120.00 to $128.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Citigroup raised their target price on shares of Paylocity from $133.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Finally, KeyCorp lowered their target price on shares of Paylocity from $190.00 to $172.00 and set an “overweight” rating for the company in a research note on Tuesday, April 28th. One investment 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $160.28.

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.