Dimensional Fund Advisors LP Trims Stock Position in Paylocity Holding Corporation $PCTY

Key Points

• Dimensional Fund Advisors cut its Paylocity stake by 9% in the first quarter, selling 59,267 shares and retaining 600,205 shares worth approximately $64.8 million. Institutional investors collectively own 94.76% of the stock.
• Paylocity shares opened at $137.90, with a market capitalization of $7.38 billion and a price-to-earnings ratio of 29.40. The stock remains below its 12-month high of $197.78.
• Analysts maintain a consensus “Moderate Buy” rating, with 12 Buy, four Hold and one Sell recommendation and an average price target of $151.88.

Dimensional Fund Advisors LP cut its holdings in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 9.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 600,205 shares of the software maker's stock after selling 59,267 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.11% of Paylocity worth $64,849,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Parallel Advisors LLC grew its holdings in Paylocity by 58.8% during the 1st quarter. Parallel Advisors LLC now owns 451 shares of the software maker's stock valued at $49,000 after buying an additional 167 shares during the last quarter. SEB Asset Management AB acquired a new position in shares of Paylocity in the first quarter worth $2,064,000. California Public Employees Retirement System raised its holdings in shares of Paylocity by 9.8% in the first quarter. California Public Employees Retirement System now owns 91,283 shares of the software maker's stock worth $9,862,000 after acquiring an additional 8,148 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Paylocity by 9.1% in the first quarter. Bank of New York Mellon Corp now owns 344,317 shares of the software maker's stock valued at $37,200,000 after acquiring an additional 28,676 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of Paylocity by 1,426.0% in the first quarter. Geneos Wealth Management Inc. now owns 763 shares of the software maker's stock valued at $82,000 after acquiring an additional 713 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Paylocity Stock Performance

NASDAQ PCTY opened at $137.90 on Friday. The business's 50-day moving average price is $115.60 and its 200 day moving average price is $114.59. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a twelve month low of $92.99 and a twelve month high of $197.78. The company has a market capitalization of $7.38 billion, a PE ratio of 29.40 and a beta of 0.52.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PCTY shares. Weiss Ratings reiterated a "sell (d+)" rating on shares of Paylocity in a research report on Tuesday, July 21st. Barclays upped their target price 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. UBS Group raised their price target on shares of Paylocity from $122.00 to $128.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 22nd. TD Cowen lowered their price target on shares of Paylocity from $155.00 to $137.00 and set a "buy" rating for the company in a report on Friday, June 26th. Finally, Citigroup boosted their price objective on shares of Paylocity from $133.00 to $136.00 and gave the company a "buy" rating in a research report on Monday, May 11th. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $151.88.

Insider Buying and Selling at Paylocity

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

Want to see what other hedge funds are holding PCTY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paylocity Holding Corporation (NASDAQ:PCTY - Free Report).

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.