Edgestream Partners L.P. Raises Position in Paylocity Holding Corporation $PCTY

Edgestream Partners L.P. grew its holdings in Paylocity Holding Corporation (NASDAQ:PCTY) by 30.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,503 shares of the software maker’s stock after acquiring an additional 6,715 shares during the period. Edgestream Partners L.P. owned about 0.05% of Paylocity worth $3,079,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of PCTY. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Paylocity by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,388 shares of the software maker’s stock valued at $25,551,000 after purchasing an additional 7,594 shares during the period. Focus Partners Wealth increased its holdings in Paylocity by 24.5% during the 1st quarter. Focus Partners Wealth now owns 1,365 shares of the software maker’s stock worth $256,000 after purchasing an additional 269 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Paylocity by 537.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 465 shares of the software maker’s stock worth $84,000 after purchasing an additional 392 shares during the period. Marshall Wace LLP raised its position in Paylocity by 2,782.7% in the 2nd quarter. Marshall Wace LLP now owns 35,688 shares of the software maker’s stock valued at $6,466,000 after purchasing an additional 34,450 shares in the last quarter. Finally, Cerity Partners LLC raised its position in Paylocity by 10.0% in the 2nd quarter. Cerity Partners LLC now owns 19,241 shares of the software maker’s stock valued at $3,486,000 after purchasing an additional 1,749 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Stock Up 0.9%

Paylocity stock opened at $137.90 on Friday. The stock has a market cap of $7.38 billion, a PE ratio of 29.40 and a beta of 0.52. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.08 and a quick ratio of 1.08. The stock’s fifty day moving average is $115.60 and its two-hundred day moving average is $114.59. Paylocity Holding Corporation has a 1-year low of $92.99 and a 1-year high of $197.78.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PCTY shares. Truist Financial lowered their price objective on Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a research report on Monday, June 29th. TD Cowen cut their target price on shares of Paylocity from $155.00 to $137.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. Stephens reduced their target price on shares of Paylocity from $160.00 to $120.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Robert W. Baird set a $193.00 price target on shares of Paylocity in a research note on Friday, May 8th. Finally, Jefferies Financial Group set a $135.00 price target on shares of Paylocity in a report on Saturday, May 9th. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $151.88.

Insider Activity at Paylocity

In other news, SVP Andrew Cappotelli sold 899 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $115.05, for a total value of $103,429.95. Following the transaction, the senior vice president owned 17,679 shares in the company, valued at approximately $2,033,968.95. This represents a 4.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.