Liontrust Investment Partners LLP Sells 605,609 Shares of Paylocity Holding Corporation $PCTY

Liontrust Investment Partners LLP reduced its position in Paylocity Holding Corporation (NASDAQ:PCTY) by 99.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,137 shares of the software maker’s stock after selling 605,609 shares during the quarter. Liontrust Investment Partners LLP’s holdings in Paylocity were worth $447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in PCTY. AQR Capital Management LLC lifted its position in shares of Paylocity by 75.1% during the 4th quarter. AQR Capital Management LLC now owns 943,591 shares of the software maker’s stock valued at $143,747,000 after buying an additional 404,605 shares during the last quarter. Morgan Stanley grew its stake in shares of Paylocity by 117.9% during the 4th quarter. Morgan Stanley now owns 817,209 shares of the software maker’s stock worth $124,625,000 after acquiring an additional 442,218 shares during the period. Millennium Management LLC increased its holdings in Paylocity by 97.7% in the 3rd quarter. Millennium Management LLC now owns 748,803 shares of the software maker’s stock worth $119,262,000 after acquiring an additional 369,975 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Paylocity by 6.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 659,472 shares of the software maker’s stock worth $100,570,000 after acquiring an additional 42,725 shares during the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in Paylocity in the 3rd quarter valued at about $104,657,000. 94.76% of the stock is currently owned by institutional investors.

Insider Activity at Paylocity

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PCTY shares. Barclays increased their target price on shares of Paylocity from $120.00 to $128.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Jefferies Financial Group set a $135.00 price target on shares of Paylocity in a research report on Saturday, May 9th. Truist Financial dropped their price target on shares of Paylocity from $180.00 to $165.00 and set a “buy” rating on the stock in a research note on Monday, June 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Paylocity in a report on Tuesday, July 21st. Finally, UBS Group lifted their price objective on shares of Paylocity from $122.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Twelve investment 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $151.88.

Paylocity Trading Up 0.9%

Shares of PCTY opened at $137.90 on Friday. Paylocity Holding Corporation has a 1-year low of $92.99 and a 1-year high of $197.78. The company has a market capitalization of $7.38 billion, a P/E ratio of 29.40 and a beta of 0.52. 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’s 50 day simple moving average is $115.60 and its 200 day simple moving average is $114.59.

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.