Sovereign s Capital Management LLC Raises Holdings in Paylocity Holding Corporation $PCTY

Sovereign s Capital Management LLC lifted its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 34.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 22,814 shares of the software maker’s stock after acquiring an additional 5,815 shares during the period. Paylocity makes up approximately 2.1% of Sovereign s Capital Management LLC’s investment portfolio, making the stock its 19th largest holding. Sovereign s Capital Management LLC’s holdings in Paylocity were worth $3,479,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. PNC Financial Services Group Inc. lifted its holdings in shares of Paylocity by 2.5% during the third quarter. PNC Financial Services Group Inc. now owns 3,313 shares of the software maker’s stock worth $528,000 after purchasing an additional 81 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Paylocity by 35.0% during the second quarter. Smartleaf Asset Management LLC now owns 428 shares of the software maker’s stock worth $77,000 after purchasing an additional 111 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Paylocity by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 7,382 shares of the software maker’s stock worth $1,126,000 after purchasing an additional 122 shares during the period. True Wealth Design LLC lifted its holdings in shares of Paylocity by 43.4% during the fourth quarter. True Wealth Design LLC now owns 410 shares of the software maker’s stock worth $63,000 after purchasing an additional 124 shares during the period. Finally, Allworth Financial LP lifted its holdings in shares of Paylocity by 88.0% during the third quarter. Allworth Financial LP now owns 282 shares of the software maker’s stock worth $45,000 after purchasing an additional 132 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Trading Down 2.5%

Shares of NASDAQ:PCTY opened at $104.31 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $5.58 billion, a PE ratio of 22.24 and a beta of 0.51. The business has a 50 day moving average of $107.28 and a two-hundred day moving average of $121.89. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $197.78.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PCTY shares. Wall Street Zen downgraded Paylocity from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Robert W. Baird set a $193.00 target price on Paylocity in a report on Friday, May 8th. Barclays lifted their target price on Paylocity from $120.00 to $128.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Zacks Research raised Paylocity from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 20th. Finally, UBS Group lifted their target price on Paylocity from $114.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $160.28.

Insider Buying and Selling at Paylocity

In other news, SVP Andrew Cappotelli sold 899 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 17,679 shares of the company’s stock, valued at $2,033,968.95. This represents a 4.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is currently 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.