Assenagon Asset Management S.A. Lowers Stock Holdings in Paylocity Holding Corporation $PCTY

Assenagon Asset Management S.A. reduced its position in Paylocity Holding Corporation (NASDAQ:PCTY) by 4.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 410,728 shares of the software maker’s stock after selling 21,342 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Paylocity were worth $44,375,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. AQR Capital Management LLC lifted its holdings in Paylocity by 75.1% during the 4th quarter. AQR Capital Management LLC now owns 943,591 shares of the software maker’s stock worth $143,747,000 after buying an additional 404,605 shares during the last quarter. Morgan Stanley raised its position in Paylocity by 117.9% during the 4th quarter. Morgan Stanley now owns 817,209 shares of the software maker’s stock worth $124,625,000 after buying an additional 442,218 shares during the last quarter. Millennium Management LLC boosted its holdings in Paylocity by 97.7% in the 3rd quarter. Millennium Management LLC now owns 748,803 shares of the software maker’s stock valued at $119,262,000 after purchasing an additional 369,975 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Paylocity by 6.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 659,472 shares of the software maker’s stock worth $100,570,000 after acquiring an additional 42,725 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Paylocity in the 3rd quarter valued at about $104,657,000. 94.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on PCTY. Raymond James Financial set a $140.00 price objective on Paylocity in a report on Friday, May 8th. Citigroup upped their price objective on shares of Paylocity from $133.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, May 11th. KeyCorp dropped their price target on Paylocity from $190.00 to $172.00 and set an “overweight” rating for the company in a research note on Tuesday, April 28th. Jefferies Financial Group set a $135.00 price target on shares of Paylocity in a research report on Saturday, May 9th. Finally, UBS Group boosted their target price on shares of Paylocity from $114.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.28.

Insider Activity

In other news, SVP Andrew Cappotelli sold 899 shares of Paylocity stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $115.05, for a total value of $103,429.95. Following the transaction, the senior vice president owned 17,679 shares of the company’s stock, valued at $2,033,968.95. The trade was a 4.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is owned by corporate insiders.

Paylocity Stock Down 3.2%

Paylocity stock opened at $100.48 on Friday. The firm has a market capitalization of $5.38 billion, a P/E ratio of 21.42 and a beta of 0.51. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.08. Paylocity Holding Corporation has a one year low of $92.99 and a one year high of $197.78. The company has a 50-day simple moving average of $107.36 and a 200-day simple moving average of $119.65.

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.