Quantinno Capital Management LP Boosts Stock Position in Paylocity Holding Corporation $PCTY

Quantinno Capital Management LP boosted its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 31.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 502,913 shares of the software maker's stock after acquiring an additional 119,374 shares during the quarter. Quantinno Capital Management LP owned 0.94% of Paylocity worth $54,335,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Flagship Harbor Advisors LLC purchased a new position in shares of Paylocity in the fourth quarter valued at approximately $27,000. Los Angeles Capital Management LLC acquired a new stake in Paylocity during the 4th quarter worth approximately $30,000. Advisory Services Network LLC purchased a new position in Paylocity in the 3rd quarter valued at approximately $38,000. Parallel Advisors LLC grew its stake in shares of Paylocity by 446.2% in the fourth quarter. Parallel Advisors LLC now owns 284 shares of the software maker's stock worth $43,000 after acquiring an additional 232 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of Paylocity by 88.0% in the third quarter. Allworth Financial LP now owns 282 shares of the software maker's stock worth $45,000 after acquiring an additional 132 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Insider Activity

In other news, SVP Andrew Cappotelli sold 899 shares of Paylocity stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $115.05, for a total transaction of $103,429.95. Following the completion of the sale, the senior vice president directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 19.40% of the company's stock.

Paylocity Trading Up 4.4%

Shares of NASDAQ:PCTY opened at $144.79 on Thursday. Paylocity Holding Corporation has a 52 week low of $92.99 and a 52 week high of $197.78. The company's 50 day moving average is $114.60 and its two-hundred day moving average is $114.52. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07. The company has a market cap of $7.75 billion, a PE ratio of 30.87 and a beta of 0.52.

Analyst Ratings Changes

Several analysts have recently issued reports on PCTY shares. Weiss Ratings reiterated a "sell (d+)" rating on shares of Paylocity in a research note on Tuesday, July 21st. UBS Group boosted their target price on Paylocity from $122.00 to $128.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 22nd. KeyCorp lowered their target price on Paylocity from $190.00 to $172.00 and set an "overweight" rating for the company in a research note on Tuesday, April 28th. Truist Financial cut their price target on Paylocity from $180.00 to $165.00 and set a "buy" rating on the stock in a report on Monday, June 29th. Finally, BMO Capital Markets increased their price target on Paylocity from $135.00 to $143.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $151.88.

Paylocity Company 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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