First Trust Advisors LP Acquires 24,477 Shares of Paylocity Holding Corporation $PCTY

Key Points

• First Trust Advisors increased its Paylocity stake by 16.3%, acquiring 24,477 shares and bringing its holdings to 174,389 shares worth approximately $18.8 million. Institutional investors collectively own 94.76% of PCTY.
• Analyst sentiment remains positive, with 12 Buy ratings, four Holds and one Sell; the stock has a “Moderate Buy” consensus rating and an average price target of $151.88.
• Paylocity shares opened at $144.79, compared with a 52-week range of $92.99 to $197.78. The company provides cloud-based payroll, human capital management and talent-management software for mid-sized organizations.

First Trust Advisors LP boosted its holdings in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 16.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 174,389 shares of the software maker's stock after purchasing an additional 24,477 shares during the quarter. First Trust Advisors LP owned 0.33% of Paylocity worth $18,841,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PCTY. PNC Financial Services Group Inc. increased its holdings in shares of Paylocity by 16.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,976 shares of the software maker's stock worth $430,000 after purchasing an additional 557 shares during the period. Van Berkom & Associates Inc. boosted its stake in shares of Paylocity by 17.8% in the first quarter. Van Berkom & Associates Inc. now owns 616,407 shares of the software maker's stock valued at $66,597,000 after buying an additional 93,065 shares during the period. Parallel Advisors LLC boosted its stake in shares of Paylocity by 58.8% in the first 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 period. SEB Asset Management AB bought a new stake in shares of Paylocity in the first quarter valued at approximately $2,064,000. Finally, California Public Employees Retirement System grew its position in Paylocity by 9.8% during the first quarter. California Public Employees Retirement System now owns 91,283 shares of the software maker's stock worth $9,862,000 after buying an additional 8,148 shares in the last quarter. Institutional investors own 94.76% of the company's stock.

Analyst Upgrades and Downgrades

PCTY has been the topic of a number of recent research reports. Robert W. Baird set a $193.00 price objective on Paylocity in a research note on Friday, May 8th. BMO Capital Markets upped their target price on Paylocity from $135.00 to $143.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Zacks Research lowered Paylocity from a "strong-buy" rating to a "hold" rating in a report on Monday. UBS Group raised their price target on Paylocity from $122.00 to $128.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 22nd. Finally, KeyCorp dropped their price target on Paylocity from $190.00 to $172.00 and set an "overweight" rating for the company in a research note on Tuesday, April 28th. Twelve investment 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.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $151.88.

Paylocity Stock Performance

Shares of NASDAQ:PCTY opened at $144.79 on Thursday. Paylocity Holding Corporation has a 1 year low of $92.99 and a 1 year high of $197.78. The stock has a market capitalization of $7.75 billion, a price-to-earnings ratio of 30.87 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 company's 50 day simple moving average is $114.60 and its 200 day simple moving average is $114.52.

Insider Activity

In other news, SVP Andrew Cappotelli sold 899 shares of Paylocity stock in a transaction 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 owned 17,679 shares in the company, valued at approximately $2,033,968.95. This trade represents a 4.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 19.40% of the company's stock.

About Paylocity

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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