Van Berkom & Associates Inc. Acquires 93,065 Shares of Paylocity Holding Corporation $PCTY

Van Berkom & Associates Inc. grew its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 17.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 616,407 shares of the software maker’s stock after buying an additional 93,065 shares during the quarter. Paylocity accounts for about 2.2% of Van Berkom & Associates Inc.’s holdings, making the stock its 25th biggest position. Van Berkom & Associates Inc.’s holdings in Paylocity were worth $66,597,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Flagship Harbor Advisors LLC acquired a new stake in shares of Paylocity in the 4th quarter worth about $27,000. MassMutual Private Wealth & Trust FSB boosted its stake in Paylocity by 363.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 190 shares of the software maker’s stock valued at $29,000 after purchasing an additional 149 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Paylocity during the 4th quarter valued at about $30,000. Advisory Services Network LLC bought a new stake in Paylocity during the 3rd quarter worth approximately $38,000. Finally, Allworth Financial LP increased its holdings in 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 owned by institutional investors.

Insider Activity at Paylocity

In related news, SVP Andrew Cappotelli sold 899 shares of Paylocity stock in a transaction on 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 in the company, valued at approximately $2,033,968.95. This trade represents a 4.84% decrease in their ownership of the stock. The sale was disclosed in a legal 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.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Robert W. Baird set a $193.00 target price on Paylocity in a report on Friday, May 8th. TD Cowen cut their target price on Paylocity from $155.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. Wall Street Zen downgraded Paylocity from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Truist Financial lowered their price target on Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a research report on Monday, June 29th. Finally, Barclays raised their price objective on Paylocity from $120.00 to $128.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Paylocity has a consensus rating of “Moderate Buy” and a consensus price target of $151.12.

Paylocity Stock Performance

NASDAQ:PCTY opened at $126.00 on Monday. Paylocity Holding Corporation has a 52 week low of $92.99 and a 52 week high of $197.78. The firm has a 50-day moving average price of $111.40 and a two-hundred day moving average price of $115.80. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 26.87 and a beta of 0.52.

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.