92,473 Shares in Paylocity Holding Corporation $PCTY Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Paylocity Holding Corporation (NASDAQ:PCTY) during the second quarter, HoldingsChannel.com reports. The firm bought 92,473 shares of the software maker’s stock, valued at approximately $9,666,000.

Several other large investors have also added to or reduced their stakes in PCTY. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Paylocity by 5.9% in the 1st 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 purchasing an additional 7,594 shares in the last quarter. Focus Partners Wealth boosted its holdings 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 acquiring an additional 269 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Paylocity by 537.0% during the second quarter. EverSource Wealth Advisors LLC now owns 465 shares of the software maker’s stock worth $84,000 after acquiring an additional 392 shares during the period. Marshall Wace LLP raised its position in Paylocity by 2,782.7% during the 2nd quarter. Marshall Wace LLP now owns 35,688 shares of the software maker’s stock valued at $6,466,000 after purchasing an additional 34,450 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Paylocity by 10.0% in the second quarter. Cerity Partners LLC now owns 19,241 shares of the software maker’s stock valued at $3,486,000 after acquiring an additional 1,749 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Transactions at Paylocity

In related news, SVP Andrew Cappotelli sold 2,550 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $149.83, for a total value of $382,066.50. Following the transaction, the senior vice president owned 44,329 shares in the company, valued at approximately $6,641,814.07. This represents a 5.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joshua Scutt sold 4,730 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $149.82, for a total transaction of $708,648.60. Following the transaction, the senior vice president directly owned 75,729 shares of the company’s stock, valued at $11,345,718.78. This represents a 5.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 30,741 shares of company stock worth $4,621,962. 19.40% of the stock is owned by company insiders.

Paylocity Price Performance

NASDAQ PCTY opened at $152.04 on Thursday. The company has a market cap of $8.07 billion, a price-to-earnings ratio of 30.72 and a beta of 0.48. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09. The stock’s fifty day moving average price is $129.04 and its 200 day moving average price is $115.64. Paylocity Holding Corporation has a 1 year low of $92.99 and a 1 year high of $181.97.

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 company had revenue of $444.73 million during 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 firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.56 EPS. As a group, equities research analysts forecast that Paylocity Holding Corporation will post 6.86 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Stephens decreased their price objective on Paylocity from $160.00 to $120.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Citizens Jmp decreased their price objective on Paylocity from $170.00 to $150.00 and set a “market outperform” rating for the company in a report on Friday, May 8th. Raymond James Financial set a $140.00 price objective on Paylocity in a research report on Friday, May 8th. TD Cowen upped their target price on Paylocity from $168.00 to $177.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Finally, Robert W. Baird set a $201.00 price target on Paylocity in a research note on Wednesday, August 5th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Paylocity has a consensus rating of “Moderate Buy” and an average target price of $160.53.

Paylocity Company 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.