Paylocity Holding Corporation $PCTY Shares Bought by Amundi

Key Points

• Amundi increased its Paylocity stake by 143.3% in the first quarter, adding 357,001 shares to own 606,158 shares valued at approximately $65.5 million, or 1.13% of the company.
• Other institutional investors also expanded their positions, and hedge funds and other institutions collectively own 94.76% of Paylocity’s outstanding shares.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $151.88; Paylocity shares recently opened at $137.90.

Amundi lifted its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 143.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 606,158 shares of the software maker's stock after purchasing an additional 357,001 shares during the period. Amundi owned 1.13% of Paylocity worth $65,489,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PCTY. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in 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 valued at $25,551,000 after buying an additional 7,594 shares during the period. Focus Partners Wealth raised its stake in shares of Paylocity by 24.5% in the 1st quarter. Focus Partners Wealth now owns 1,365 shares of the software maker's stock valued at $256,000 after acquiring an additional 269 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Paylocity by 537.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 465 shares of the software maker's stock worth $84,000 after acquiring an additional 392 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Paylocity by 2,782.7% in the 2nd quarter. Marshall Wace LLP now owns 35,688 shares of the software maker's stock worth $6,466,000 after acquiring an additional 34,450 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in shares of Paylocity by 10.0% during the 2nd quarter. Cerity Partners LLC now owns 19,241 shares of the software maker's stock worth $3,486,000 after purchasing an additional 1,749 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Raymond James Financial set a $140.00 target price on shares of Paylocity in a research note 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. Robert W. Baird set a $193.00 price target on shares of Paylocity in a research note on Friday, May 8th. Jefferies Financial Group set a $135.00 price objective on Paylocity in a research report on Saturday, May 9th. Finally, Barclays increased their price objective on Paylocity from $120.00 to $128.00 and gave the company an "equal weight" rating in a research note on Monday, May 11th. Twelve research 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. According to MarketBeat.com, Paylocity has an average rating of "Moderate Buy" and an average target price of $151.88.

Paylocity Stock Performance

NASDAQ PCTY opened at $137.90 on Monday. The stock has a market cap of $7.38 billion, a P/E ratio of 29.40 and a beta of 0.47. The company's fifty day simple moving average is $115.60 and its 200-day simple moving average is $114.34. 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 52 week low of $92.99 and a 52 week high of $197.78.

Insider Activity at Paylocity

In related news, SVP Andrew Cappotelli sold 899 shares of the company's stock in a transaction on 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 directly owned 17,679 shares of the company's stock, valued at $2,033,968.95. This represents a 4.84% decrease in their ownership of the stock. The transaction 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.

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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