Pacer Advisors Inc. Buys 8,769 Shares of Paylocity Holding Corporation $PCTY

Pacer Advisors Inc. boosted its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 147.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,731 shares of the software maker’s stock after buying an additional 8,769 shares during the quarter. Pacer Advisors Inc.’s holdings in Paylocity were worth $2,246,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PCTY. PNC Financial Services Group Inc. lifted its holdings in shares of Paylocity by 2.5% during the third quarter. PNC Financial Services Group Inc. now owns 3,313 shares of the software maker’s stock valued at $528,000 after acquiring an additional 81 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of 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 in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Paylocity by 1.7% in the 4th 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 last quarter. True Wealth Design LLC grew its holdings in shares of Paylocity by 43.4% in the 4th 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 last quarter. Finally, Allworth Financial LP increased its position in shares of Paylocity by 88.0% during the 3rd quarter. Allworth Financial LP now owns 282 shares of the software maker’s stock worth $45,000 after purchasing an additional 132 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Paylocity news, SVP Andrew Cappotelli sold 899 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $115.05, for a total value 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. The trade was a 4.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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

Paylocity stock opened at $100.89 on Wednesday. The stock has a 50-day simple moving average of $107.22 and a 200 day simple moving average of $120.27. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 21.51 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. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $197.78.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PCTY. Jefferies Financial Group set a $135.00 price target on shares of Paylocity in a report on Saturday, May 9th. Robert W. Baird set a $193.00 price objective on shares of Paylocity in a report on Friday, May 8th. BMO Capital Markets lifted their target price on shares of Paylocity from $135.00 to $143.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Wall Street Zen upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Zacks Research raised Paylocity from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 20th. 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. According to data from MarketBeat, Paylocity currently has a consensus rating of “Moderate Buy” and an average target price of $160.28.

Paylocity 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.