Smith Group Asset Management LLC Purchases 4,247 Shares of Paylocity Holding Corporation $PCTY

Smith Group Asset Management LLC grew its position in Paylocity Holding Corporation (NASDAQ:PCTY) by 159.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,906 shares of the software maker’s stock after buying an additional 4,247 shares during the quarter. Smith Group Asset Management LLC’s holdings in Paylocity were worth $746,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PCTY. Flagship Harbor Advisors LLC bought a new position in Paylocity in the fourth quarter valued at approximately $27,000. Los Angeles Capital Management LLC bought a new stake in Paylocity during the fourth quarter worth $30,000. Advisory Services Network LLC bought a new stake in Paylocity during the third quarter worth $38,000. Parallel Advisors LLC boosted its holdings in shares of Paylocity by 446.2% in the 4th quarter. Parallel Advisors LLC now owns 284 shares of the software maker’s stock valued at $43,000 after purchasing an additional 232 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Paylocity by 88.0% in the 3rd quarter. Allworth Financial LP now owns 282 shares of the software maker’s stock valued at $45,000 after purchasing an additional 132 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Stock Performance

NASDAQ PCTY opened at $138.68 on Wednesday. The firm’s fifty day moving average price is $113.96 and its two-hundred day moving average price is $114.58. The stock has a market cap of $7.42 billion, a PE ratio of 29.57 and a beta of 0.52. Paylocity Holding Corporation has a fifty-two week low of $92.99 and a fifty-two week high of $197.78. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.08.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PCTY shares. TD Cowen lowered their price target on Paylocity from $155.00 to $137.00 and set a “buy” rating for the company in a report on Friday, June 26th. Zacks Research upgraded Paylocity from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 20th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Paylocity in a research note on Tuesday, July 21st. Citizens Jmp decreased their target price on Paylocity from $170.00 to $150.00 and set a “market outperform” rating on the stock in a research report on Friday, May 8th. Finally, Raymond James Financial set a $140.00 target price on Paylocity in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Paylocity currently has an average rating of “Moderate Buy” and a consensus price target of $151.88.

Insider Activity at Paylocity

In related news, SVP Andrew Cappotelli sold 899 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was 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 of the company’s stock, valued at $2,033,968.95. This trade represents a 4.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 19.40% of the company’s stock.

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.