Renaissance Technologies LLC Has $25.39 Million Stock Position in Paylocity Holding Corporation $PCTY

Renaissance Technologies LLC lifted its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 1,406.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 235,000 shares of the software maker’s stock after acquiring an additional 219,400 shares during the period. Renaissance Technologies LLC’s holdings in Paylocity were worth $25,389,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its position in Paylocity by 7.9% in the 1st quarter. Public Employees Retirement System of Ohio now owns 45,696 shares of the software maker’s stock valued at $4,937,000 after acquiring an additional 3,350 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Paylocity by 11.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 233,511 shares of the software maker’s stock worth $25,229,000 after purchasing an additional 24,690 shares in the last quarter. Sei Investments Co. increased its holdings in Paylocity by 6.2% during the 1st quarter. Sei Investments Co. now owns 95,755 shares of the software maker’s stock worth $10,345,000 after purchasing an additional 5,599 shares in the last quarter. Alamar Capital Management LLC purchased a new stake in shares of Paylocity in the first quarter worth approximately $924,000. Finally, Globeflex Capital L P raised its stake in shares of Paylocity by 365.3% in the first quarter. Globeflex Capital L P now owns 1,624 shares of the software maker’s stock worth $175,000 after purchasing an additional 1,275 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Ratings Changes

PCTY has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Paylocity in a research report on Tuesday, July 21st. Citizens Jmp dropped their price objective on Paylocity from $170.00 to $150.00 and set a “market outperform” rating on the stock in a research note on Friday, May 8th. Raymond James Financial set a $140.00 price objective on shares of Paylocity in a report on Friday, May 8th. Robert W. Baird set a $193.00 target price on shares of Paylocity in a research note on Friday, May 8th. Finally, Jefferies Financial Group set a $135.00 target price on shares of Paylocity in a report on Saturday, May 9th. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $151.88.

Paylocity Stock Performance

PCTY stock opened at $144.79 on Thursday. The firm has a market cap of $7.75 billion, a PE ratio of 30.87 and a beta of 0.52. 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 business has a 50 day moving average of $114.60 and a 200-day moving average of $114.52. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $197.78.

Insiders Place Their Bets

In other Paylocity news, SVP Andrew Cappotelli sold 899 shares of the company’s 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 owned 17,679 shares in the company, valued at $2,033,968.95. This represents a 4.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 19.40% of the company’s stock.

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.