Paylocity Holding Corporation $PCTY Shares Purchased by Corient Private Wealth LP

Corient Private Wealth LP boosted its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 37.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,800 shares of the software maker's stock after acquiring an additional 40,971 shares during the period. Corient Private Wealth LP owned 0.28% of Paylocity worth $15,659,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PCTY. California State Teachers Retirement System increased its holdings in shares of Paylocity by 18.9% during the 1st quarter. California State Teachers Retirement System now owns 49,614 shares of the software maker's stock worth $5,360,000 after buying an additional 7,891 shares during the last quarter. Deutsche Bank AG purchased a new stake in shares of Paylocity during the 2nd quarter valued at approximately $54,906,000. BlackRock Inc. acquired a new position in Paylocity in the second quarter valued at approximately $430,315,000. Hsbc Holdings PLC lifted its holdings in Paylocity by 181.7% in the second quarter. Hsbc Holdings PLC now owns 32,688 shares of the software maker's stock valued at $3,411,000 after acquiring an additional 21,083 shares during the last quarter. Finally, Royal Bank of Canada grew its position in Paylocity by 40.5% in the first quarter. Royal Bank of Canada now owns 134,181 shares of the software maker's stock worth $14,496,000 after acquiring an additional 38,697 shares during the period. Institutional investors and hedge funds own 94.76% of the company's stock.

Paylocity Stock Performance

Shares of PCTY stock opened at $147.22 on Wednesday. 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 $169.56. The stock has a market capitalization of $7.81 billion, a PE ratio of 29.74 and a beta of 0.45. The firm has a 50 day moving average of $141.32 and a two-hundred day moving average of $119.88.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Truist Financial decreased their price target on Paylocity from $180.00 to $165.00 and set a "buy" rating on the stock in a research note on Monday, June 29th. Barclays raised their price objective on Paylocity from $128.00 to $154.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 5th. Citigroup restated a "buy" rating on shares of Paylocity in a report on Thursday, August 6th. Cantor Fitzgerald upped their target price on shares of Paylocity from $140.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $165.00 target price on shares of Paylocity in a research report on Wednesday, August 5th. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $160.53.

Insider Activity

In related news, CFO Ryan Glenn sold 3,345 shares of the business's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $149.75, for a total value of $500,913.75. Following the completion of the sale, the chief financial officer directly owned 122,563 shares of the company's stock, valued at $18,353,809.25. The trade was a 2.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew Cappotelli sold 2,550 shares of the company's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $149.83, for a total value of $382,066.50. Following the completion of the sale, the senior vice president directly owned 44,329 shares of the company's stock, valued at approximately $6,641,814.07. This trade represents a 5.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 54,214 shares of company stock worth $8,322,580 over the last three months. Company insiders own 19.40% of the company's stock.

Paylocity Company Profile

Paylocity Holding Corporation is a provider of cloud-based human capital management (HCM) and workforce management software. Its platform is designed to help organizations manage payroll, human resources, employee benefits, talent, compliance and workforce operations through a unified system.

The company's products and services include payroll processing, time and labor management, benefits administration, recruiting, onboarding, performance management, employee surveys and workplace communication tools.

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