29,683 Shares in Paylocity Holding Corporation $PCTY Bought by Dockside LLC

Dockside LLC acquired a new stake in Paylocity Holding Corporation (NASDAQ:PCTY) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 29,683 shares of the software maker’s stock, valued at approximately $4,527,000. Paylocity makes up approximately 1.2% of Dockside LLC’s investment portfolio, making the stock its 17th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Entropy Technologies LP increased its holdings in Paylocity by 29.4% in the fourth quarter. Entropy Technologies LP now owns 8,799 shares of the software maker’s stock valued at $1,342,000 after buying an additional 2,000 shares in the last quarter. Marshall Wace LLP increased its holdings in Paylocity by 4,560.3% in the fourth quarter. Marshall Wace LLP now owns 60,584 shares of the software maker’s stock valued at $9,239,000 after buying an additional 59,284 shares in the last quarter. Walleye Capital LLC increased its holdings in Paylocity by 301.8% in the fourth quarter. Walleye Capital LLC now owns 145,319 shares of the software maker’s stock valued at $22,161,000 after buying an additional 109,148 shares in the last quarter. Bridgewater Associates LP increased its holdings in Paylocity by 255.5% in the fourth quarter. Bridgewater Associates LP now owns 38,212 shares of the software maker’s stock valued at $5,827,000 after buying an additional 27,464 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in Paylocity by 279.6% in the fourth quarter. UMB Bank n.a. now owns 763 shares of the software maker’s stock valued at $116,000 after buying an additional 562 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

PCTY has been the subject of a number of recent analyst reports. Raymond James Financial set a $140.00 price objective on shares of Paylocity in a report on Friday, May 8th. Stephens cut their price objective on shares of Paylocity from $160.00 to $120.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. KeyCorp cut their price objective on shares of Paylocity from $190.00 to $172.00 and set an “overweight” rating for the company in a report on Tuesday, April 28th. Wall Street Zen cut shares of Paylocity from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Finally, Barclays boosted their target price on shares of Paylocity from $120.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $160.28.

Insider Activity at Paylocity

In other news, SVP Andrew Cappotelli sold 899 shares of the business’s stock in a transaction dated 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 sale, the senior vice president owned 17,679 shares of the company’s stock, valued at $2,033,968.95. The trade was a 4.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 corporate insiders.

Paylocity Stock Up 0.6%

PCTY stock opened at $108.84 on Friday. The stock has a market capitalization of $5.83 billion, a P/E ratio of 23.21 and a beta of 0.51. The firm has a 50-day simple moving average of $107.30 and a 200-day simple moving average of $122.64. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a 52 week low of $92.99 and a 52 week 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.