Smith Group Asset Management LLC Buys 4,247 Shares of Paylocity Holding Corporation $PCTY

Smith Group Asset Management LLC lifted its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 159.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 6,906 shares of the software maker’s stock after buying an additional 4,247 shares during the quarter. Smith Group Asset Management LLC’s holdings in Paylocity were worth $746,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Flagship Harbor Advisors LLC bought a new position in Paylocity in the 4th quarter valued at about $27,000. Los Angeles Capital Management LLC bought a new stake in shares of Paylocity during the fourth quarter worth approximately $30,000. Advisory Services Network LLC bought a new stake in shares of Paylocity during the third quarter worth approximately $38,000. Parallel Advisors LLC boosted its holdings in shares of Paylocity by 446.2% during the fourth quarter. Parallel Advisors LLC now owns 284 shares of the software maker’s stock worth $43,000 after acquiring an additional 232 shares during the period. Finally, Allworth Financial LP grew its position in shares of Paylocity by 88.0% in the third quarter. Allworth Financial LP now owns 282 shares of the software maker’s stock valued at $45,000 after purchasing an additional 132 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on PCTY shares. Citigroup lifted their price target on Paylocity from $133.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, May 11th. KeyCorp decreased their price objective on Paylocity from $190.00 to $172.00 and set an “overweight” rating on the stock in a report on Tuesday, April 28th. BMO Capital Markets increased their price objective on Paylocity from $135.00 to $143.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Jefferies Financial Group set a $135.00 target price on Paylocity in a report on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Paylocity in a research report on Tuesday, July 21st. One 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 assigned a Sell rating to the company’s stock. According to MarketBeat, Paylocity currently has an average rating of “Moderate Buy” and a consensus price target of $151.88.

Insider Buying and Selling

In other Paylocity news, SVP Andrew Cappotelli sold 899 shares of Paylocity stock in a transaction on Tuesday, May 19th. The stock was 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is currently owned by company insiders.

Paylocity Stock Up 6.5%

NASDAQ PCTY opened at $138.68 on Wednesday. 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 company has a market cap of $7.42 billion, a price-to-earnings ratio of 29.57 and a beta of 0.52. The company has a 50 day moving average of $113.96 and a 200-day moving average of $114.58. Paylocity Holding Corporation has a 1-year low of $92.99 and a 1-year high of $197.78.

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.