Arrowstreet Capital Limited Partnership Grows Stock Position in Paylocity Holding Corporation $PCTY

Key Points

• Arrowstreet Capital increased its Paylocity stake by 11.8% in the first quarter, adding 24,690 shares to own 233,511 shares valued at approximately $25.2 million. Institutional investors collectively own 94.76% of the company.
• Analyst sentiment remains broadly positive, with 12 Buy ratings, four Holds and one Sell; MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $151.88.
• Paylocity shares opened at $144.79, with a $7.75 billion market capitalization and a 52-week range of $92.99 to $197.78. An executive separately sold 899 shares under a pre-arranged Rule 10b5-1 plan.

Arrowstreet Capital Limited Partnership boosted its holdings in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 11.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 233,511 shares of the software maker's stock after buying an additional 24,690 shares during the period. Arrowstreet Capital Limited Partnership owned 0.44% of Paylocity worth $25,229,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new position in Paylocity during the fourth quarter worth approximately $27,000. Los Angeles Capital Management LLC acquired a new stake in shares of Paylocity during the 4th quarter worth $30,000. Advisory Services Network LLC acquired a new stake in shares of Paylocity during the 3rd quarter worth $38,000. Parallel Advisors LLC raised its position in shares of Paylocity by 446.2% in the 4th quarter. Parallel Advisors LLC now owns 284 shares of the software maker's stock worth $43,000 after buying an additional 232 shares during the period. Finally, Allworth Financial LP raised its position in shares of 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 buying an additional 132 shares during the period. Hedge funds and other institutional investors own 94.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wall Street Zen downgraded Paylocity from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Jefferies Financial Group set a $135.00 target price on Paylocity in a report on Saturday, May 9th. Stephens dropped their target price on shares of Paylocity from $160.00 to $120.00 and set an "equal weight" rating for the company in a research report on Friday, May 8th. Barclays raised their price target on shares of Paylocity from $120.00 to $128.00 and gave the company an "equal weight" rating in a report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Paylocity in a research report on Tuesday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $151.88.

Paylocity Trading Up 4.4%

NASDAQ:PCTY opened at $144.79 on Thursday. The stock has a market cap of $7.75 billion, a price-to-earnings ratio of 30.87 and a beta of 0.52. Paylocity Holding Corporation has a one year low of $92.99 and a one year high of $197.78. 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 business's 50-day simple moving average is $114.60 and its 200 day simple moving average is $114.52.

Insider Transactions at Paylocity

In other Paylocity 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 value of $103,429.95. Following 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 document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is owned by corporate 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.

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.