Van Berkom & Associates Inc. Purchases 93,065 Shares of Paylocity Holding Corporation $PCTY

Key Points

• Van Berkom & Associates increased its Paylocity stake by 17.8% in the first quarter, buying 93,065 shares and bringing its total holdings to 616,407 shares valued at about $66.6 million.
• Other institutional investors also made large moves in PCTY, and 94.76% of the stock is owned by institutions and hedge funds, highlighting strong professional ownership.
• Analyst sentiment remains constructive, with an average Moderate Buy rating and a consensus price target of $151.12, while the stock recently traded at $126.00.

Van Berkom & Associates Inc. lifted its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 17.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 616,407 shares of the software maker's stock after buying an additional 93,065 shares during the quarter. Paylocity comprises about 2.2% of Van Berkom & Associates Inc.'s holdings, making the stock its 25th largest position. Van Berkom & Associates Inc. owned 1.14% of Paylocity worth $66,597,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in Paylocity by 75.1% in the fourth quarter. AQR Capital Management LLC now owns 943,591 shares of the software maker's stock valued at $143,747,000 after buying an additional 404,605 shares during the period. Morgan Stanley raised its position in shares of Paylocity by 117.9% in the 4th quarter. Morgan Stanley now owns 817,209 shares of the software maker's stock worth $124,625,000 after acquiring an additional 442,218 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Paylocity by 97.7% in the 3rd quarter. Millennium Management LLC now owns 748,803 shares of the software maker's stock valued at $119,262,000 after purchasing an additional 369,975 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Paylocity by 6.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 659,472 shares of the software maker's stock valued at $100,570,000 after purchasing an additional 42,725 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Paylocity during the 3rd quarter valued at about $104,657,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Paylocity news, SVP Andrew Cappotelli sold 899 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $115.05, for a total value of $103,429.95. Following the completion of the sale, the senior vice president owned 17,679 shares of the company's stock, valued at approximately $2,033,968.95. This trade represents 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 hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 19.40% of the company's stock.

Paylocity Stock Performance

Shares of Paylocity stock opened at $126.00 on Monday. Paylocity Holding Corporation has a one year low of $92.99 and a one year high of $197.78. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 26.87 and a beta of 0.52. The business has a 50-day simple moving average of $111.40 and a 200 day simple moving average of $115.80. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.08 and a quick ratio of 1.08.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PCTY shares. BMO Capital Markets raised their target price on Paylocity from $135.00 to $143.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. Robert W. Baird set a $193.00 price target on Paylocity in a report on Friday, May 8th. Jefferies Financial Group set a $135.00 price objective on shares of Paylocity in a research report on Saturday, May 9th. KeyCorp lowered their price objective on shares of Paylocity from $190.00 to $172.00 and set an "overweight" rating for the company in a research note on Tuesday, April 28th. Finally, Citizens Jmp dropped their target price on shares of Paylocity from $170.00 to $150.00 and set a "market outperform" rating on the stock in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Paylocity has an average rating of "Moderate Buy" and an average price target of $151.12.

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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