Quantbot Technologies LP Buys New Holdings in Paylocity Holding Corporation $PCTY

Quantbot Technologies LP purchased a new position in shares of Paylocity Holding Corporation (NASDAQ:PCTY) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 6,689 shares of the software maker’s stock, valued at approximately $699,000.

Other large investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Paylocity in the second quarter worth approximately $430,315,000. Alyeska Investment Group L.P. bought a new stake in Paylocity during the 3rd quarter valued at $104,657,000. Norges Bank bought a new stake in Paylocity during the 4th quarter valued at $88,428,000. Deutsche Bank AG purchased a new stake in Paylocity during the 2nd quarter valued at $54,906,000. Finally, Morgan Stanley boosted its position in Paylocity by 117.9% during the 4th quarter. Morgan Stanley now owns 817,209 shares of the software maker’s stock valued at $124,625,000 after buying an additional 442,218 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PCTY has been the topic of a number of analyst reports. UBS Group boosted their price objective on shares of Paylocity from $122.00 to $128.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Raymond James Financial set a $140.00 target price on shares of Paylocity in a report on Friday, May 8th. BTIG Research raised their target price on Paylocity from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Citizens Jmp lowered their price target 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. Finally, Citigroup reiterated a “buy” rating on shares of Paylocity in a report on Thursday, August 6th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $160.53.

Paylocity Price Performance

Shares of PCTY opened at $152.04 on Thursday. Paylocity Holding Corporation has a fifty-two week low of $92.99 and a fifty-two week high of $181.97. The firm’s 50-day simple moving average is $129.04 and its two-hundred day simple moving average is $115.64. The stock has a market cap of $8.07 billion, a PE ratio of 30.72 and a beta of 0.48. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09.

Paylocity (NASDAQ:PCTY) last released its earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.22. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The firm had revenue of $444.73 million during the quarter, compared to analyst estimates of $431.46 million. During the same period last year, the business earned $1.56 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. Analysts anticipate that Paylocity Holding Corporation will post 6.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Paylocity news, SVP Andrew Cappotelli sold 2,550 shares of Paylocity stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $149.83, for a total transaction of $382,066.50. Following the completion of the transaction, the senior vice president owned 44,329 shares in the company, valued at approximately $6,641,814.07. The trade was a 5.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ryan Glenn sold 3,345 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $149.75, for a total value of $500,913.75. Following the completion of the sale, the chief financial officer directly owned 122,563 shares in the company, valued at $18,353,809.25. This trade represents a 2.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 30,741 shares of company stock worth $4,621,962 over the last three months. 19.40% of the stock is owned by corporate insiders.

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.