Chicago Partners Investment Group LLC Buys 4,082 Shares of Paylocity Holding Corporation $PCTY

Chicago Partners Investment Group LLC boosted its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 67.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,094 shares of the software maker’s stock after purchasing an additional 4,082 shares during the period. Chicago Partners Investment Group LLC’s holdings in Paylocity were worth $1,051,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC purchased a new position in shares of Paylocity in the 4th quarter worth $27,000. MassMutual Private Wealth & Trust FSB increased its position in Paylocity by 363.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker’s stock valued at $29,000 after acquiring an additional 149 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Paylocity in the fourth quarter valued at about $30,000. Advisory Services Network LLC bought a new position in Paylocity in the third quarter valued at about $38,000. Finally, Parallel Advisors LLC boosted its position in Paylocity by 446.2% in the fourth quarter. Parallel Advisors LLC now owns 284 shares of the software maker’s stock worth $43,000 after purchasing an additional 232 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Paylocity news, SVP Andrew Cappotelli sold 899 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $115.05, for a total transaction of $103,429.95. Following the sale, the senior vice president directly owned 17,679 shares of the company’s stock, valued at $2,033,968.95. This trade represents a 4.84% decrease in their ownership of the stock. The transaction 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. 19.40% of the stock is currently owned by corporate insiders.

Paylocity Stock Performance

PCTY opened at $123.05 on Thursday. The company has a 50 day simple moving average of $110.74 and a two-hundred day simple moving average of $116.19. 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 firm has a market cap of $6.59 billion, a P/E ratio of 26.24 and a beta of 0.52. Paylocity Holding Corporation has a 1-year low of $92.99 and a 1-year high of $197.78.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PCTY. UBS Group upped their price target on shares of Paylocity from $114.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Zacks Research raised shares of Paylocity from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 20th. TD Cowen cut their target price on shares of Paylocity from $155.00 to $137.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Citizens Jmp reduced their target price on shares of Paylocity from $170.00 to $150.00 and set a “market outperform” rating for the company in a report on Friday, May 8th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Paylocity in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.61.

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.