Proficio Capital Partners LLC Invests $348,000 in Paylocity Holding Corporation $PCTY

Proficio Capital Partners LLC acquired a new position in shares of Paylocity Holding Corporation (NASDAQ:PCTY) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,330 shares of the software maker’s stock, valued at approximately $348,000.

A number of other hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in Paylocity during the second quarter valued at $430,315,000. AQR Capital Management LLC raised its position in shares of Paylocity by 75.1% in the 4th quarter. AQR Capital Management LLC now owns 943,591 shares of the software maker’s stock worth $143,747,000 after acquiring an additional 404,605 shares in the last quarter. Morgan Stanley lifted its stake in shares of Paylocity by 117.9% in the 4th quarter. Morgan Stanley now owns 817,209 shares of the software maker’s stock valued at $124,625,000 after purchasing an additional 442,218 shares during the period. Millennium Management LLC lifted its stake 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 valued at $119,262,000 after purchasing an additional 369,975 shares during the period. Finally, Jupiter Topco LLC bought a new stake in shares of Paylocity during the 2nd quarter valued at about $70,540,000. Institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $165.00 target price on shares of Paylocity in a report on Wednesday, August 5th. Wall Street Zen downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Barclays lifted their price objective on shares of Paylocity from $128.00 to $154.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 5th. KeyCorp boosted their target price on shares of Paylocity from $172.00 to $178.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Finally, Raymond James Financial set a $140.00 target price on shares of Paylocity in a research note on Friday, May 8th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $160.53.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $154.43 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a twelve month low of $92.99 and a twelve month high of $178.91. The stock’s 50 day moving average is $135.73 and its 200-day moving average is $117.60. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 31.20 and a beta of 0.45.

Paylocity (NASDAQ:PCTY) last posted its quarterly 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. The business had revenue of $444.73 million during the quarter, compared to the consensus estimate of $431.46 million. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. Paylocity’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.56 EPS. Sell-side analysts forecast that Paylocity Holding Corporation will post 6.92 EPS for the current fiscal year.

Insider Activity

In other news, CFO Ryan Glenn sold 3,345 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $149.75, for a total transaction of $500,913.75. Following the completion of the sale, the chief financial officer directly owned 122,563 shares of the company’s stock, valued at $18,353,809.25. The trade was a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 dated Thursday, August 27th. The stock was sold at an average price of $156.80, for a total transaction of $493,136.00. Following the completion of the sale, the director owned 2,207 shares in the company, valued at $346,057.60. This represents a 58.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 54,145 shares of company stock valued at $8,312,067. 19.40% of the stock is currently owned by insiders.

About Paylocity

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.