Liontrust Investment Partners LLP Has $447,000 Stock Holdings in Paylocity Holding Corporation $PCTY

Key Points

• Liontrust Investment Partners cut its Paylocity stake by 99.3% in the first quarter, selling 605,609 shares and retaining 4,137 shares valued at approximately $447,000.
• Institutional ownership remains high at 94.76%, with investors including Morgan Stanley, AQR Capital Management, BNP Paribas Financial Markets, Alyeska Investment Group, and Norges Bank increasing or initiating positions.
• Analysts maintain a generally positive outlook, with Paylocity holding a consensus “Moderate Buy” rating and a $151.88 average price target; however, Stephens, Wall Street Zen, and Zacks recently downgraded or lowered their views.

Liontrust Investment Partners LLP trimmed its holdings in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 99.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,137 shares of the software maker's stock after selling 605,609 shares during the period. Liontrust Investment Partners LLP's holdings in Paylocity were worth $447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Alyeska Investment Group L.P. acquired a new stake in shares of Paylocity in the 3rd quarter worth about $104,657,000. Norges Bank bought a new position in Paylocity in the 4th quarter valued at about $88,428,000. Morgan Stanley boosted its stake in Paylocity by 117.9% during the 4th quarter. Morgan Stanley now owns 817,209 shares of the software maker's stock valued at $124,625,000 after purchasing an additional 442,218 shares during the last quarter. AQR Capital Management LLC boosted its stake in Paylocity by 75.1% during the 4th quarter. AQR Capital Management LLC now owns 943,591 shares of the software maker's stock valued at $143,747,000 after purchasing an additional 404,605 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Paylocity by 261.2% during the 4th quarter. BNP Paribas Financial Markets now owns 534,487 shares of the software maker's stock worth $81,509,000 after purchasing an additional 386,494 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $137.90 on Friday. The company has a market capitalization of $7.38 billion, a P/E ratio of 29.40 and a beta of 0.52. The company's 50-day moving average is $115.60 and its 200 day moving average is $114.59. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.08. Paylocity Holding Corporation has a fifty-two week low of $92.99 and a fifty-two week high of $197.78.

Insider Transactions at Paylocity

In other Paylocity news, SVP Andrew Cappotelli sold 899 shares of Paylocity stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $115.05, for a total value of $103,429.95. Following the sale, the senior vice president owned 17,679 shares of the company's stock, valued at approximately $2,033,968.95. The trade was a 4.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 19.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PCTY. Stephens lowered their price objective on Paylocity from $160.00 to $120.00 and set an "equal weight" rating for the company in a research note on Friday, May 8th. Raymond James Financial set a $140.00 target price on Paylocity in a research report on Friday, May 8th. Robert W. Baird set a $193.00 price target on Paylocity 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. Finally, Zacks Research cut Paylocity from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $151.88.

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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