Pallas Capital Advisors LLC Makes New Investment in Paylocity Holding Corporation $PCTY

Pallas Capital Advisors LLC acquired a new position in Paylocity Holding Corporation (NASDAQ:PCTY) during the second quarter, HoldingsChannel reports. The institutional investor acquired 6,680 shares of the software maker’s stock, valued at approximately $698,000.

A number of other large investors have also recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Paylocity by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,388 shares of the software maker’s stock worth $25,551,000 after acquiring an additional 7,594 shares during the period. Focus Partners Wealth increased its position in Paylocity by 24.5% during the 1st quarter. Focus Partners Wealth now owns 1,365 shares of the software maker’s stock valued at $256,000 after purchasing an additional 269 shares during the period. EverSource Wealth Advisors LLC increased its position in Paylocity by 537.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 465 shares of the software maker’s stock valued at $84,000 after purchasing an additional 392 shares during the period. Marshall Wace LLP raised its holdings in Paylocity by 2,782.7% in the 2nd quarter. Marshall Wace LLP now owns 35,688 shares of the software maker’s stock worth $6,466,000 after purchasing an additional 34,450 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in Paylocity by 10.0% in the 2nd quarter. Cerity Partners LLC now owns 19,241 shares of the software maker’s stock worth $3,486,000 after purchasing an additional 1,749 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PCTY shares. Citigroup reaffirmed a “buy” rating on shares of Paylocity in a research note on Thursday, August 6th. Citizens Jmp lowered their price objective 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. Wall Street Zen downgraded Paylocity from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Cantor Fitzgerald increased their target price on Paylocity from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Finally, BTIG Research increased their target price on Paylocity from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.00.

Insider Transactions at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 11,136 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $150.81, for a total value of $1,679,420.16. Following the sale, the director directly owned 4,535,052 shares of the company’s stock, valued at approximately $683,931,192.12. The trade was a 0.24% decrease in their ownership of the stock. The transaction 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.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $149.31 on Thursday. Paylocity Holding Corporation has a fifty-two week low of $92.99 and a fifty-two week high of $182.83. The company has a 50 day simple moving average of $124.37 and a two-hundred day simple moving average of $114.86. The company has a market capitalization of $7.92 billion, a price-to-earnings ratio of 30.16 and a beta of 0.48. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Tuesday, August 4th. The software maker reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.22. The firm had revenue of $444.73 million for the quarter, compared to analysts’ expectations of $431.46 million. Paylocity had a return on equity of 27.02% and a net margin of 15.23%.The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.56 EPS. Analysts expect that Paylocity Holding Corporation will post 6.86 EPS for the current fiscal year.

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.