Hsbc Holdings PLC Has $1.27 Million Stock Position in Paylocity Holding Corporation $PCTY

Key Points

• Hsbc Holdings PLC cut its Paylocity position by 60.9% in the first quarter, selling 18,048 shares and retaining 11,605 shares valued at approximately $1.27 million.
• Institutional investors and hedge funds own 94.76% of Paylocity’s stock, while corporate insiders own 19.40%; a senior vice president recently sold 899 shares under a pre-arranged Rule 10b5-1 plan.
• Analysts remain broadly positive, with Paylocity holding a “Moderate Buy” consensus rating and an average price target of $151.88, compared with a recent opening price of $130.16.

Hsbc Holdings PLC lowered its position in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 60.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,605 shares of the software maker's stock after selling 18,048 shares during the period. Hsbc Holdings PLC's holdings in Paylocity were worth $1,268,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Paylocity by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,388 shares of the software maker's stock worth $25,551,000 after purchasing an additional 7,594 shares in the last quarter. Focus Partners Wealth raised its holdings in Paylocity by 24.5% during the first quarter. Focus Partners Wealth now owns 1,365 shares of the software maker's stock worth $256,000 after buying an additional 269 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Paylocity by 537.0% during the second quarter. EverSource Wealth Advisors LLC now owns 465 shares of the software maker's stock worth $84,000 after buying an additional 392 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Paylocity by 2,782.7% in the second quarter. Marshall Wace LLP now owns 35,688 shares of the software maker's stock valued at $6,466,000 after buying an additional 34,450 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Paylocity by 10.0% in the second quarter. Cerity Partners LLC now owns 19,241 shares of the software maker's stock valued at $3,486,000 after buying an additional 1,749 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Insider Activity at Paylocity

In related news, SVP Andrew Cappotelli sold 899 shares of the firm's 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 of the company's stock, valued at $2,033,968.95. This trade represents a 4.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 corporate insiders.

Paylocity Price Performance

PCTY opened at $130.16 on Tuesday. 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 has a market capitalization of $6.97 billion, a price-to-earnings ratio of 27.75 and a beta of 0.52. The firm's fifty day moving average price is $113.45 and its two-hundred day moving average price is $114.69. Paylocity Holding Corporation has a 1 year low of $92.99 and a 1 year high of $197.78.

Analyst Ratings Changes

Several research firms have recently commented on PCTY. Citigroup boosted their target price on shares of Paylocity from $133.00 to $136.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. BMO Capital Markets raised their price target on shares of Paylocity from $135.00 to $143.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Wall Street Zen cut shares of Paylocity from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. TD Cowen cut their price target on Paylocity from $155.00 to $137.00 and set a "buy" rating for the company in a research note on Friday, June 26th. Finally, Jefferies Financial Group set a $135.00 price objective on Paylocity in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Paylocity currently has an average rating of "Moderate Buy" and a consensus target price of $151.88.

Paylocity 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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