Bronte Capital Management Pty Ltd. Invests $3.96 Million in Paylocity Holding Corporation $PCTY

Bronte Capital Management Pty Ltd. acquired a new stake in Paylocity Holding Corporation (NASDAQ:PCTY) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 36,611 shares of the software maker’s stock, valued at approximately $3,955,000. Paylocity comprises about 0.4% of Bronte Capital Management Pty Ltd.’s holdings, making the stock its 27th biggest holding. Bronte Capital Management Pty Ltd. owned approximately 0.07% of Paylocity as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in shares of Paylocity by 3.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,419 shares of the software maker’s stock valued at $521,000 after acquiring an additional 106 shares during the period. Smartleaf Asset Management LLC lifted its stake in Paylocity by 35.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 428 shares of the software maker’s stock valued at $77,000 after purchasing an additional 111 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Paylocity by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 7,382 shares of the software maker’s stock worth $1,126,000 after purchasing an additional 122 shares during the period. True Wealth Design LLC grew its holdings in Paylocity by 43.4% during the fourth quarter. True Wealth Design LLC now owns 410 shares of the software maker’s stock worth $63,000 after purchasing an additional 124 shares during the period. Finally, Hsbc Holdings PLC increased its position in Paylocity by 0.4% during the fourth quarter. Hsbc Holdings PLC now owns 29,653 shares of the software maker’s stock worth $4,535,000 after buying an additional 128 shares during the last quarter. 94.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PCTY shares. Truist Financial cut their price objective on Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a research report on Monday. Raymond James Financial set a $140.00 price target on Paylocity 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. Stephens reduced their price objective on shares of Paylocity from $160.00 to $120.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. Finally, Jefferies Financial Group set a $135.00 price objective on shares of Paylocity in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.61.

Insider Buying and Selling

In other Paylocity news, SVP Andrew Cappotelli sold 899 shares of the company’s stock in a transaction 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 transaction, the senior vice president directly owned 17,679 shares of the company’s stock, valued at $2,033,968.95. This represents a 4.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is currently owned by corporate insiders.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $115.10 on Friday. The firm has a market cap of $6.16 billion, a P/E ratio of 24.54 and a beta of 0.52. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a 1-year low of $92.99 and a 1-year high of $197.78. The business’s 50 day moving average is $108.05 and its 200-day moving average is $118.27.

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.