WINTON GROUP Ltd Acquires Shares of 41,634 Paylocity Holding Corporation $PCTY

Key Points

• WINTON GROUP Ltd acquired 41,634 Paylocity shares valued at approximately $4.35 million, representing about 0.08% of the company; institutional investors collectively own 94.76% of outstanding shares.
• Analyst sentiment remains positive, with 12 Buy ratings and five Holds producing a consensus “Moderate Buy” rating and an average price target of $160.53.
• Paylocity exceeded quarterly expectations, reporting $1.84 in earnings per share versus the $1.62 estimate and revenue of $444.73 million, up 11% year over year; several insiders also sold shares during the past 90 days.

WINTON GROUP Ltd bought a new position in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 41,634 shares of the software maker's stock, valued at approximately $4,352,000. WINTON GROUP Ltd owned about 0.08% of Paylocity as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Optiver Holding B.V. raised its position in shares of 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 acquiring an additional 237 shares in the last quarter. Global Retirement Partners LLC acquired a new position in Paylocity in the second quarter worth $27,000. Basecamp Wealth Advisors LLC boosted its holdings in Paylocity by 4,250.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker's stock worth $28,000 after purchasing an additional 255 shares during the period. Los Angeles Capital Management LLC bought a new stake in Paylocity during the fourth quarter valued at $30,000. Finally, Elevation Wealth Partners LLC raised its holdings in shares of Paylocity by 500.0% during the second quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker's stock worth $36,000 after purchasing an additional 285 shares during the period. Institutional investors and hedge funds own 94.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PCTY. Robert W. Baird set a $201.00 target price on shares of Paylocity in a report on Wednesday, August 5th. UBS Group increased their price target on Paylocity from $122.00 to $128.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 22nd. Cantor Fitzgerald increased their price target on Paylocity from $140.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Citigroup reissued a "buy" rating on shares of Paylocity in a report on Thursday, August 6th. Finally, KeyCorp boosted their price objective on Paylocity from $172.00 to $178.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $160.53.

Paylocity Trading Up 0.5%

NASDAQ:PCTY opened at $142.86 on Friday. Paylocity Holding Corporation has a 1 year low of $92.99 and a 1 year high of $172.63. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 28.86 and a beta of 0.45. The business has a fifty day moving average of $139.53 and a 200-day moving average of $118.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09.

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

Insider Activity

In other news, Director Craig Conway sold 3,145 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 2,207 shares in the company, valued at $346,057.60. This trade represents a 58.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Joshua Scutt sold 4,730 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $149.82, for a total transaction of $708,648.60. Following the transaction, the senior vice president owned 75,729 shares in the company, valued at $11,345,718.78. This represents a 5.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 54,214 shares of company stock worth $8,322,580 in the last 90 days. 19.40% of the stock is currently owned by corporate insiders.

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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