Deutsche Bank AG Takes $54.91 Million Position in Paylocity Holding Corporation $PCTY

Deutsche Bank AG purchased a new position in Paylocity Holding Corporation (NASDAQ:PCTY) in the second quarter, Holdings Channel.com reports. The firm purchased 525,269 shares of the software maker’s stock, valued at approximately $54,906,000.

Several other hedge funds have also recently made changes to their positions in PCTY. State of Michigan Retirement System boosted its holdings in Paylocity by 1.0% in the first quarter. State of Michigan Retirement System now owns 10,472 shares of the software maker’s stock worth $1,131,000 after purchasing an additional 100 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Paylocity by 3.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,419 shares of the software maker’s stock valued at $521,000 after buying an additional 106 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Paylocity by 35.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 428 shares of the software maker’s stock worth $77,000 after buying an additional 111 shares during the last quarter. State of Wyoming grew its holdings in shares of Paylocity by 16.0% in the first quarter. State of Wyoming now owns 861 shares of the software maker’s stock worth $93,000 after acquiring an additional 119 shares during the period. Finally, Fisher Asset Management LLC increased its position in Paylocity by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 7,382 shares of the software maker’s stock valued at $1,126,000 after acquiring an additional 122 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Ryan Glenn sold 3,345 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $149.75, for a total value of $500,913.75. Following the transaction, the chief financial officer directly owned 122,563 shares in the company, valued at $18,353,809.25. The trade was a 2.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joshua Scutt sold 4,730 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $149.82, for a total value of $708,648.60. Following the completion of the transaction, the senior vice president directly owned 75,729 shares of the company’s stock, valued at approximately $11,345,718.78. This trade represents a 5.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 30,300 shares of company stock valued at $4,553,607 in the last ninety days. Insiders own 19.40% of the company’s stock.

Paylocity Stock Up 2.0%

Shares of PCTY stock opened at $152.36 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09. Paylocity Holding Corporation has a one year low of $92.99 and a one year high of $182.83. The company’s fifty day moving average price is $125.25 and its 200-day moving average price is $114.98. The company has a market capitalization of $8.08 billion, a price-to-earnings ratio of 30.78 and a beta of 0.48.

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

Wall Street Analyst Weigh In

PCTY has been the topic of several research reports. Citigroup reissued a “buy” rating on shares of Paylocity in a research report on Thursday, August 6th. Truist Financial reduced their price target on shares of Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a research report on Monday, June 29th. Stephens lowered their price objective on shares of Paylocity from $160.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. Weiss Ratings raised shares of Paylocity from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Finally, Cantor Fitzgerald boosted their target price on shares of Paylocity from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.53.

Paylocity News Roundup

Here are the key news stories impacting Paylocity this week:

• Positive Sentiment: TD Cowen raised its price target to $177 from $168 and reiterated a “Buy” rating, implying meaningful upside from recent trading levels. The revision supports the bullish view of Paylocity’s growth and valuation prospects. Benzinga analyst price-target report
• Positive Sentiment: Paylocity’s 50-day moving average recently moved above its 200-day moving average, creating a technical “golden cross.” The signal, along with the stock holding a key support level, may attract momentum-oriented investors. Zacks golden cross report
• Positive Sentiment: The recent uptrend extended after Paylocity posted a strong quarterly performance. The company previously exceeded consensus expectations for both earnings and revenue, with revenue growth of 11% year over year, reinforcing investor confidence in operating momentum. Kalkine Media Paylocity uptrend report
• Negative Sentiment: Several insiders reported sales totaling roughly 19,164 shares at prices near $150. CFO Ryan Glenn, SVPs Andrew Cappotelli and Joshua Scutt, and Director Steven Sarowitz reduced their holdings. However, all transactions were executed under pre-arranged Rule 10b5-1 plans; Sarowitz’s sale represented only 0.19% of his direct position, limiting the bearish significance. Paylocity SEC insider transaction filing

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.