Headlands Technologies LLC Makes New $1 Million Investment in Paylocity Holding Corporation $PCTY

Headlands Technologies LLC purchased a new position in Paylocity Holding Corporation (NASDAQ:PCTY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,594 shares of the software maker’s stock, valued at approximately $1,003,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PCTY. Two Sigma Securities LLC bought a new stake in shares of Paylocity during the 2nd quarter valued at $625,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Paylocity by 23.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,491 shares of the software maker’s stock worth $14,163,000 after buying an additional 25,509 shares during the period. Hsbc Holdings PLC increased its stake in Paylocity by 181.7% in the 2nd quarter. Hsbc Holdings PLC now owns 32,688 shares of the software maker’s stock worth $3,411,000 after buying an additional 21,083 shares in the last quarter. Wellington Management Group LLP increased its stake in Paylocity by 77.0% in the 2nd quarter. Wellington Management Group LLP now owns 244,492 shares of the software maker’s stock worth $25,557,000 after buying an additional 106,326 shares in the last quarter. Finally, Caitlin John LLC purchased a new stake in Paylocity in the 2nd quarter worth $530,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PCTY has been the topic of several research analyst reports. Raymond James Financial set a $140.00 price objective on Paylocity in a research report on Friday, May 8th. Citizens Jmp cut their target price on Paylocity from $170.00 to $150.00 and set a “market outperform” rating for the company in a research report on Friday, May 8th. KeyCorp lifted their target price on Paylocity from $172.00 to $178.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Weiss Ratings raised Paylocity from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Finally, BMO Capital Markets upped their price target on Paylocity from $143.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $160.53.

Insider Activity at Paylocity

In other Paylocity news, Director Craig Conway sold 3,145 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $156.80, for a total transaction of $493,136.00. Following the completion of the transaction, the director owned 2,207 shares in the company, valued at $346,057.60. This trade represents a 58.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth B. Robinson sold 800 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $158.41, for a total transaction of $126,728.00. Following the transaction, the director owned 6,745 shares of the company’s stock, valued at $1,068,475.45. This trade represents a 10.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 54,145 shares of company stock valued at $8,312,067 over the last quarter. 19.40% of the stock is currently owned by insiders.

Paylocity Stock Performance

NASDAQ:PCTY opened at $156.02 on Wednesday. The company has a market cap of $8.28 billion, a price-to-earnings ratio of 31.52 and a beta of 0.45. Paylocity Holding Corporation has a 1 year low of $92.99 and a 1 year high of $178.91. The stock’s 50 day simple moving average is $133.64 and its two-hundred day simple moving average is $116.91. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Tuesday, August 4th. The software maker reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.22. Paylocity had a return on equity of 27.02% and a net margin of 15.23%.The firm had revenue of $444.73 million during the quarter, compared to the consensus estimate of $431.46 million. During the same period in the prior year, the company earned $1.56 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts anticipate that Paylocity Holding Corporation will post 6.92 earnings per share for the current fiscal year.

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.