SG Americas Securities LLC Sells 13,790 Shares of Paylocity Holding Corporation $PCTY

SG Americas Securities LLC cut its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 73.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,911 shares of the software maker’s stock after selling 13,790 shares during the quarter. SG Americas Securities LLC’s holdings in Paylocity were worth $531,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of Paylocity by 22.1% during the third quarter. JPMorgan Chase & Co. now owns 555,393 shares of the software maker’s stock valued at $88,459,000 after buying an additional 100,400 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Paylocity by 60.8% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 47,486 shares of the software maker’s stock worth $7,249,000 after buying an additional 17,950 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Paylocity by 311.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 432,070 shares of the software maker’s stock worth $65,891,000 after acquiring an additional 327,082 shares in the last quarter. Tudor Investment Corp ET AL raised its stake in shares of Paylocity by 50.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 83,304 shares of the software maker’s stock worth $13,268,000 after acquiring an additional 28,016 shares in the last quarter. Finally, Chicago Capital LLC lifted its position in Paylocity by 1,165.0% during the fourth quarter. Chicago Capital LLC now owns 97,579 shares of the software maker’s stock valued at $14,881,000 after acquiring an additional 89,865 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Paylocity Price Performance

NASDAQ PCTY opened at $118.84 on Wednesday. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 25.34 and a beta of 0.52. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.08 and a quick ratio of 1.08. The stock’s fifty day moving average price is $108.87 and its 200 day moving average price is $117.55. Paylocity Holding Corporation has a 1 year low of $92.99 and a 1 year high of $197.78.

Insiders Place Their Bets

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 shares were sold at an average price of $115.05, for a total transaction of $103,429.95. Following the completion of the transaction, the senior vice president directly 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 19.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PCTY shares. Truist Financial cut their price target on shares of Paylocity from $180.00 to $165.00 and set a “buy” rating on the stock in a report on Monday, June 29th. Jefferies Financial Group set a $135.00 price objective on Paylocity in a research report on Saturday, May 9th. Robert W. Baird set a $193.00 target price on Paylocity in a research note on Friday, May 8th. KeyCorp reduced their target price on Paylocity from $190.00 to $172.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 28th. Finally, Stephens decreased their price target on Paylocity from $160.00 to $120.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.61.

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.