Paylocity Holding Corporation $PCTY Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management increased its Paylocity stake by 23.2% in the second quarter, holding 135,491 shares worth approximately $14.2 million. Institutional investors collectively own 94.76% of the company.
• Analysts maintain a “Moderate Buy” consensus on PCTY, with 12 Buy ratings and five Holds and an average price target of $160.53.
• Paylocity exceeded quarterly expectations, reporting adjusted EPS of $1.84 versus $1.62 expected and revenue of $444.73 million, up 11% year over year.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 23.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,491 shares of the software maker's stock after buying an additional 25,509 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.26% of Paylocity worth $14,163,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PCTY. Optiver Holding B.V. grew its stake in Paylocity by 5,925.0% during the 1st quarter. Optiver Holding B.V. now owns 241 shares of the software maker's stock valued at $26,000 after purchasing an additional 237 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in Paylocity in the second quarter valued at approximately $27,000. Basecamp Wealth Advisors LLC raised its position in Paylocity by 4,250.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker's stock worth $28,000 after buying an additional 255 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Paylocity during the 4th quarter valued at approximately $30,000. Finally, Elevation Wealth Partners LLC lifted its stake in Paylocity by 500.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker's stock valued at $36,000 after acquiring an additional 285 shares during the period. Hedge funds and other institutional investors own 94.76% of the company's stock.

Insider Transactions at Paylocity

In related news, Director Craig Conway sold 3,145 shares of the business's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $156.80, for a total value of $493,136.00. Following the completion of the sale, the director owned 2,207 shares of the company's stock, valued at approximately $346,057.60. The trade was a 58.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Andrew Cappotelli sold 2,550 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $149.83, for a total transaction of $382,066.50. Following the transaction, the senior vice president owned 44,329 shares of the company's stock, valued at $6,641,814.07. This represents a 5.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 54,145 shares of company stock worth $8,312,067 in the last ninety days. Company insiders own 19.40% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PCTY. Barclays raised their target price on shares of Paylocity from $128.00 to $154.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 5th. BTIG Research boosted their price objective on Paylocity from $150.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Cantor Fitzgerald upped their target price on Paylocity from $140.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. TD Cowen raised their target price on Paylocity from $168.00 to $177.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. Finally, Wall Street Zen cut Paylocity from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $160.53.

Paylocity Price Performance

NASDAQ:PCTY opened at $152.25 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a 52 week low of $92.99 and a 52 week high of $178.91. The stock's 50-day moving average price is $136.65 and its 200-day moving average price is $117.84. The stock has a market capitalization of $8.08 billion, a PE ratio of 30.76 and a beta of 0.45.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.22. Paylocity had a return on equity of 27.02% and a net margin of 15.23%.The company had revenue of $444.73 million for the quarter, compared to the consensus estimate of $431.46 million. During the same quarter in the prior year, the business posted $1.56 earnings per share. Paylocity's revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities analysts expect that Paylocity Holding Corporation will post 6.92 EPS for the current fiscal year.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source