Truist Financial Corp Sells 16,254 Shares of Paylocity Holding Corporation $PCTY

Truist Financial Corp cut its holdings in Paylocity Holding Corporation (NASDAQ:PCTY) by 75.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,200 shares of the software maker’s stock after selling 16,254 shares during the period. Truist Financial Corp’s holdings in Paylocity were worth $793,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Flagship Harbor Advisors LLC purchased a new stake in Paylocity in the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its stake in Paylocity by 363.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker’s stock worth $29,000 after purchasing an additional 149 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Paylocity in the 3rd quarter worth approximately $38,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Paylocity in the 3rd quarter worth approximately $41,000. Finally, Allworth Financial LP lifted its stake in Paylocity by 88.0% in the 3rd quarter. Allworth Financial LP now owns 282 shares of the software maker’s stock worth $45,000 after purchasing an additional 132 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Paylocity Stock Performance

Paylocity stock opened at $107.12 on Monday. The firm’s fifty day moving average price is $106.76 and its 200-day moving average price is $126.94. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market cap of $5.74 billion, a P/E ratio of 22.84 and a beta of 0.49. Paylocity Holding Corporation has a fifty-two week low of $92.99 and a fifty-two week high of $201.62.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PCTY shares. Stifel Nicolaus lowered their target price on shares of Paylocity from $188.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. BMO Capital Markets raised their price objective on shares of Paylocity from $135.00 to $143.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. BTIG Research lowered their price objective on shares of Paylocity from $180.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Wall Street Zen cut shares of Paylocity from a “buy” rating to a “hold” rating in a research report on Sunday, February 22nd. Finally, KeyCorp lowered their price objective on shares of Paylocity from $190.00 to $172.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 28th. Fourteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $160.28.

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.