Algert Global LLC Acquires 70,380 Shares of Paylocity Holding Corporation $PCTY

Algert Global LLC increased its stake in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 137.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,520 shares of the software maker's stock after acquiring an additional 70,380 shares during the period. Algert Global LLC owned about 0.23% of Paylocity worth $12,702,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PCTY. BlackRock Inc. bought a new stake in Paylocity during the 2nd quarter valued at $430,315,000. AQR Capital Management LLC grew its holdings in 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 during the last quarter. Morgan Stanley increased its position in shares of Paylocity by 117.9% in the fourth quarter. Morgan Stanley now owns 817,209 shares of the software maker's stock valued at $124,625,000 after acquiring an additional 442,218 shares during the period. Millennium Management LLC increased its position in shares of Paylocity by 97.7% in the third quarter. Millennium Management LLC now owns 748,803 shares of the software maker's stock valued at $119,262,000 after acquiring an additional 369,975 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Paylocity by 6.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 659,472 shares of the software maker's stock valued at $100,570,000 after acquiring an additional 42,725 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Paylocity Stock Down 0.1%

PCTY stock opened at $152.24 on Wednesday. Paylocity Holding Corporation has a fifty-two week low of $92.99 and a fifty-two week high of $181.97. The company has a market capitalization of $8.08 billion, a price-to-earnings ratio of 30.76 and a beta of 0.47. The business's 50 day moving average price is $128.01 and its two-hundred day moving average price is $115.47. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on PCTY. Weiss Ratings upgraded Paylocity from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Citizens Jmp dropped their price objective on Paylocity from $170.00 to $150.00 and set a "market outperform" rating for the company in a report on Friday, May 8th. Wall Street Zen lowered Paylocity from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Zacks Research cut Paylocity from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Finally, TD Cowen raised their price target on Paylocity from $168.00 to $177.00 and gave the stock a "buy" rating in a research note on Thursday, August 20th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $160.53.

Insider Buying and Selling

In other news, SVP Joshua Scutt sold 4,730 shares of the business'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 transaction, the senior vice president directly owned 75,729 shares of the company's stock, valued at $11,345,718.78. The trade was a 5.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, CFO Ryan Glenn sold 3,345 shares of the firm's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $149.75, for a total value of $500,913.75. Following the completion of the transaction, the chief financial officer directly owned 122,563 shares in the company, valued at $18,353,809.25. The trade was a 2.66% 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. Over the last ninety days, insiders sold 30,300 shares of company stock valued at $4,553,607. 19.40% of the stock is 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.

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