Hillsdale Investment Management Inc. Has $3.25 Million Stock Holdings in Paylocity Holding Corporation $PCTY

Hillsdale Investment Management Inc. increased its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 85.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 30,080 shares of the software maker’s stock after buying an additional 13,880 shares during the period. Hillsdale Investment Management Inc. owned 0.06% of Paylocity worth $3,250,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in Paylocity by 58.2% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,209 shares of the software maker’s stock worth $347,000 after acquiring an additional 1,181 shares during the last quarter. State of Michigan Retirement System grew its position in shares of Paylocity by 1.0% in the first quarter. State of Michigan Retirement System now owns 10,472 shares of the software maker’s stock valued at $1,131,000 after purchasing an additional 100 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Paylocity by 3.9% in the first quarter. Principal Financial Group Inc. now owns 98,152 shares of the software maker’s stock valued at $10,604,000 after purchasing an additional 3,727 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Paylocity by 67.9% during the first quarter. Chicago Partners Investment Group LLC now owns 10,094 shares of the software maker’s stock worth $1,051,000 after purchasing an additional 4,082 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of Paylocity by 271.1% during the first quarter. Fifth Third Bancorp now owns 19,787 shares of the software maker’s stock worth $2,138,000 after purchasing an additional 14,455 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on PCTY shares. TD Cowen dropped their price target on Paylocity from $155.00 to $137.00 and set a “buy” rating for the company in a report on Friday, June 26th. BMO Capital Markets upped their price objective on Paylocity from $135.00 to $143.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Barclays increased their price objective on Paylocity from $120.00 to $128.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Robert W. Baird set a $193.00 target price on Paylocity in a report on Friday, May 8th. Finally, Weiss Ratings reissued 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 assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $156.61.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $123.05 on Thursday. The business has a fifty day moving average price of $110.74 and a two-hundred day moving average price of $116.19. The stock has a market capitalization of $6.59 billion, a PE ratio of 26.24 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. Paylocity Holding Corporation has a fifty-two week low of $92.99 and a fifty-two week high of $197.78.

Insiders Place Their Bets

In related news, SVP Andrew Cappotelli sold 899 shares of the company’s stock in a transaction dated 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 sale, the senior vice president owned 17,679 shares of the company’s stock, valued at $2,033,968.95. This represents a 4.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 owned by corporate insiders.

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.