525,269 Shares in Paylocity Holding Corporation $PCTY Bought by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 525,269 Paylocity shares during the second quarter, valued at approximately $54.9 million and representing about 0.98% of the company. Institutional investors collectively own 94.76% of Paylocity.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $160.53.
• Paylocity exceeded quarterly expectations, reporting $1.84 in earnings per share versus a $1.62 consensus estimate and $444.73 million in revenue, up 11% year over year. Shares opened at $152.36, while insiders have sold shares under pre-arranged trading plans in recent months.

Deutsche Bank AG purchased a new stake in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 525,269 shares of the software maker's stock, valued at approximately $54,906,000. Deutsche Bank AG owned approximately 0.98% of Paylocity as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PCTY. Global Retirement Partners LLC bought a new position in Paylocity in the 2nd quarter worth $27,000. Bank of New York Mellon Corp bought a new stake in shares of Paylocity during the 2nd quarter valued at about $32,743,000. Focus Partners Advisor Solutions LLC bought a new stake in shares of Paylocity during the 2nd quarter valued at about $873,000. State of Wyoming purchased a new position in shares of Paylocity during the second quarter valued at about $199,000. Finally, Elevation Wealth Partners LLC increased its position in shares of Paylocity by 500.0% during the second quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker's stock valued at $36,000 after buying an additional 285 shares during the period. Institutional investors own 94.76% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. BTIG Research raised their price objective on shares of Paylocity from $150.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Robert W. Baird set a $201.00 target price on Paylocity in a report on Wednesday, August 5th. UBS Group increased their target price on Paylocity from $122.00 to $128.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 22nd. BMO Capital Markets raised their target price on Paylocity from $143.00 to $175.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Finally, Jefferies Financial Group restated a "buy" rating and set a $165.00 price target on shares of Paylocity in a research report on Wednesday, August 5th. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Paylocity currently has an average rating of "Moderate Buy" and an average target price of $160.53.

Paylocity Trading Up 2.0%

Shares of NASDAQ PCTY opened at $152.36 on Friday. Paylocity Holding Corporation has a 1 year low of $92.99 and a 1 year high of $182.83. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a 50-day moving average of $125.25 and a 200 day moving average of $114.98. The stock has a market cap of $8.08 billion, a P/E ratio of 30.78 and a beta of 0.48.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.22. The company had revenue of $444.73 million for the quarter, compared to the consensus estimate of $431.46 million. Paylocity had a return on equity of 27.02% and a net margin of 15.23%.The firm's quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.56 EPS. As a group, sell-side analysts expect that Paylocity Holding Corporation will post 6.86 EPS for the current fiscal year.

Insider Activity

In related news, SVP Joshua Scutt sold 4,730 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $149.82, for a total transaction of $708,648.60. Following the completion of the sale, the senior vice president owned 75,729 shares of the company's stock, valued at $11,345,718.78. This trade represents a 5.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew Cappotelli sold 2,550 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $149.83, for a total transaction of $382,066.50. Following the completion of the transaction, the senior vice president owned 44,329 shares of the company's stock, valued at approximately $6,641,814.07. The trade was a 5.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 30,300 shares of company stock worth $4,553,607. Corporate insiders own 19.40% of the company's stock.

Paylocity News Roundup

Here are the key news stories impacting Paylocity this week:

• Positive Sentiment: TD Cowen raised its price target to $177 from $168 and reiterated a “Buy” rating, implying meaningful upside from recent trading levels. The revision supports the bullish view of Paylocity’s growth and valuation prospects. Benzinga analyst price-target report
• Positive Sentiment: Paylocity’s 50-day moving average recently moved above its 200-day moving average, creating a technical “golden cross.” The signal, along with the stock holding a key support level, may attract momentum-oriented investors. Zacks golden cross report
• Positive Sentiment: The recent uptrend extended after Paylocity posted a strong quarterly performance. The company previously exceeded consensus expectations for both earnings and revenue, with revenue growth of 11% year over year, reinforcing investor confidence in operating momentum. Kalkine Media Paylocity uptrend report
• Negative Sentiment: Several insiders reported sales totaling roughly 19,164 shares at prices near $150. CFO Ryan Glenn, SVPs Andrew Cappotelli and Joshua Scutt, and Director Steven Sarowitz reduced their holdings. However, all transactions were executed under pre-arranged Rule 10b5-1 plans; Sarowitz’s sale represented only 0.19% of his direct position, limiting the bearish significance. Paylocity SEC insider transaction filing

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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