Paylocity Holding Corporation $PCTY Holdings Increased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP grew its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 19.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 103,523 shares of the software maker’s stock after acquiring an additional 16,513 shares during the period. ExodusPoint Capital Management LP’s holdings in Paylocity were worth $15,787,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Morgan Stanley raised its holdings in shares of Paylocity by 117.9% in the 4th quarter. Morgan Stanley now owns 817,209 shares of the software maker’s stock worth $124,625,000 after purchasing an additional 442,218 shares in the last quarter. Millennium Management LLC raised its holdings in shares of 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 purchasing an additional 369,975 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of 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 purchasing an additional 42,725 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Paylocity in the 3rd quarter worth approximately $104,657,000. Finally, Norges Bank bought a new stake in shares of Paylocity in the 4th quarter worth approximately $88,428,000. 94.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PCTY. Robert W. Baird set a $193.00 target price on shares of Paylocity in a report on Friday, May 8th. Wall Street Zen lowered shares of Paylocity from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. UBS Group boosted their price target on shares of Paylocity from $114.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Citizens Jmp cut their price target on shares of Paylocity from $170.00 to $150.00 and set a “market outperform” rating on the stock in a report on Friday, May 8th. Finally, BMO Capital Markets boosted their price target on shares of Paylocity from $135.00 to $143.00 and gave the company an “outperform” rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $160.28.

Paylocity Stock Down 2.5%

PCTY stock opened at $104.31 on Wednesday. Paylocity Holding Corporation has a 52-week low of $92.99 and a 52-week high of $197.78. The company’s 50 day simple moving average is $107.28 and its 200-day simple moving average is $121.89. 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 has a market capitalization of $5.58 billion, a P/E ratio of 22.24 and a beta of 0.51.

Insider Activity

In other news, SVP Andrew Cappotelli sold 899 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $115.05, for a total transaction of $103,429.95. Following the sale, the senior vice president owned 17,679 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is owned by corporate insiders.

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.