Boyd Watterson Asset Management LLC OH Purchases New Holdings in Paylocity Holding Corporation $PCTY

Boyd Watterson Asset Management LLC OH acquired a new position in shares of Paylocity Holding Corporation (NASDAQ:PCTY) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,150 shares of the software maker’s stock, valued at approximately $556,000.

Other hedge funds have also recently bought and sold shares of the company. Alyeska Investment Group L.P. acquired a new stake in shares of Paylocity in the 3rd quarter valued at $104,657,000. Norges Bank bought a new position in Paylocity in the fourth quarter valued at about $88,428,000. Morgan Stanley boosted its holdings in Paylocity by 117.9% in the fourth quarter. Morgan Stanley now owns 817,209 shares of the software maker’s stock valued at $124,625,000 after acquiring an additional 442,218 shares during the last quarter. AQR Capital Management LLC increased its position in Paylocity by 75.1% in the fourth quarter. AQR Capital Management LLC now owns 943,591 shares of the software maker’s stock worth $143,747,000 after purchasing an additional 404,605 shares during the period. Finally, BNP Paribas Financial Markets increased its position in Paylocity by 261.2% in the fourth quarter. BNP Paribas Financial Markets now owns 534,487 shares of the software maker’s stock worth $81,509,000 after purchasing an additional 386,494 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Insider Transactions at Paylocity

In other Paylocity news, SVP Andrew Cappotelli sold 899 shares of the stock in a transaction dated 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 directly owned 17,679 shares in the company, valued at $2,033,968.95. This represents a 4.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 19.40% of the company’s stock.

Paylocity Stock Performance

Shares of Paylocity stock opened at $115.10 on Friday. The company has a market capitalization of $6.16 billion, a PE ratio of 24.54 and a beta of 0.52. Paylocity Holding Corporation has a 12 month low of $92.99 and a 12 month high of $197.78. 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 stock’s fifty day simple moving average is $108.05 and its 200 day simple moving average is $118.27.

Analysts Set New Price Targets

A number of research firms have issued reports on PCTY. KeyCorp cut their target price on shares of Paylocity from $190.00 to $172.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 28th. Citizens Jmp lowered their price target on shares of Paylocity from $170.00 to $150.00 and set a “market outperform” rating for the company in a research report on Friday, May 8th. Barclays boosted their price target on shares of Paylocity from $120.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Raymond James Financial set a $140.00 price objective on shares of Paylocity in a report on Friday, May 8th. Finally, Jefferies Financial Group set a $135.00 price objective on shares of 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 issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $156.61.

About Paylocity

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.