Syon Capital LLC Raises Stock Holdings in Paylocity Holding Corporation $PCTY

Syon Capital LLC raised its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 101.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,419 shares of the software maker’s stock after purchasing an additional 4,246 shares during the period. Syon Capital LLC’s holdings in Paylocity were worth $880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Optiver Holding B.V. grew its position in shares of Paylocity by 5,925.0% in the 1st quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock worth $26,000 after buying an additional 237 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of Paylocity during the 2nd quarter worth approximately $27,000. Basecamp Wealth Advisors LLC lifted its position in Paylocity by 4,250.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock valued at $28,000 after acquiring an additional 255 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Paylocity during the fourth quarter valued at approximately $30,000. Finally, Elevation Wealth Partners LLC boosted its stake in Paylocity by 500.0% in the second quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker’s stock valued at $36,000 after acquiring an additional 285 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PCTY. Cantor Fitzgerald lifted their price target on shares of Paylocity from $140.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. KeyCorp increased their price objective on Paylocity from $172.00 to $178.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. UBS Group raised their price objective on Paylocity from $122.00 to $128.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Truist Financial dropped their target price on Paylocity from $180.00 to $165.00 and set a “buy” rating on the stock in a research note on Monday, June 29th. Finally, Weiss Ratings raised Paylocity from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $160.53.

Paylocity Stock Performance

NASDAQ PCTY opened at $152.25 on Monday. The company has a fifty day simple moving average of $136.65 and a two-hundred day simple moving average of $117.92. The stock has a market cap of $8.08 billion, a P/E ratio of 30.76 and a beta of 0.45. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $178.91. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.07.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $431.46 million. During the same period in the previous year, the company earned $1.56 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, analysts forecast that Paylocity Holding Corporation will post 6.92 earnings per share for the current year.

Insider Activity at Paylocity

In related news, SVP Andrew Cappotelli sold 2,550 shares of Paylocity stock in a transaction dated 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 sale, the senior vice president owned 44,329 shares of the company’s stock, valued at $6,641,814.07. The trade was a 5.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Craig Conway sold 3,145 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $156.80, for a total value of $493,136.00. Following the completion of the sale, the director owned 2,207 shares in the company, valued at approximately $346,057.60. This represents a 58.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 54,145 shares of company stock worth $8,312,067 in the last quarter. 19.40% of the stock is owned by 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.