BNP Paribas Financial Markets Increases Stock Position in Paylocity Holding Corporation $PCTY

BNP Paribas Financial Markets raised its holdings in Paylocity Holding Corporation (NASDAQ:PCTY) by 261.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 534,487 shares of the software maker’s stock after purchasing an additional 386,494 shares during the quarter. BNP Paribas Financial Markets owned 0.98% of Paylocity worth $81,509,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Federated Hermes Inc. boosted its holdings in Paylocity by 1.6% in the 3rd quarter. Federated Hermes Inc. now owns 4,848 shares of the software maker’s stock valued at $772,000 after purchasing an additional 78 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Paylocity by 2.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,313 shares of the software maker’s stock worth $528,000 after acquiring an additional 81 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Paylocity by 35.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 428 shares of the software maker’s stock worth $77,000 after acquiring an additional 111 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Paylocity by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 7,382 shares of the software maker’s stock worth $1,126,000 after acquiring an additional 122 shares in the last quarter. Finally, True Wealth Design LLC boosted its stake in shares of Paylocity by 43.4% during the 4th quarter. True Wealth Design LLC now owns 410 shares of the software maker’s stock worth $63,000 after acquiring an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Stock Up 6.6%

Shares of NASDAQ PCTY opened at $122.49 on Tuesday. Paylocity Holding Corporation has a 52-week low of $92.99 and a 52-week high of $197.78. The firm has a fifty day moving average of $106.76 and a 200-day moving average of $124.64. The stock has a market capitalization of $6.56 billion, a PE ratio of 26.12 and a beta of 0.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.07.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Truist Financial decreased their price target on Paylocity from $240.00 to $180.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Zacks Research raised Paylocity from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 20th. TD Cowen reissued a “buy” rating on shares of Paylocity in a research note on Friday, February 6th. Stifel Nicolaus decreased their price target on Paylocity from $188.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Finally, Jefferies Financial Group set a $135.00 price target on Paylocity in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Paylocity presently has an average rating of “Moderate Buy” and an average target price of $160.28.

Insiders Place Their Bets

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 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. This represents a 4.84% decrease in their position. The sale 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 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.