Y Intercept Hong Kong Ltd Invests $782,000 in Paylocity Holding Corporation $PCTY

Y Intercept Hong Kong Ltd acquired a new stake in Paylocity Holding Corporation (NASDAQ:PCTY) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 7,238 shares of the software maker’s stock, valued at approximately $782,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. PNC Financial Services Group Inc. raised its holdings in Paylocity by 3.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,419 shares of the software maker’s stock worth $521,000 after acquiring an additional 106 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Paylocity by 35.0% in the second quarter. Smartleaf Asset Management LLC now owns 428 shares of the software maker’s stock valued at $77,000 after purchasing an additional 111 shares in the last quarter. Fisher Asset Management LLC grew its stake in Paylocity by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 7,382 shares of the software maker’s stock valued at $1,126,000 after purchasing an additional 122 shares in the last quarter. True Wealth Design LLC increased its position in shares of Paylocity by 43.4% during the 4th quarter. True Wealth Design LLC now owns 410 shares of the software maker’s stock worth $63,000 after purchasing an additional 124 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Paylocity by 0.4% during the 4th quarter. Hsbc Holdings PLC now owns 29,653 shares of the software maker’s stock worth $4,535,000 after purchasing an additional 128 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Stock Performance

Shares of PCTY stock opened at $118.50 on Monday. The firm has a 50 day moving average price of $109.64 and a two-hundred day moving average price of $116.79. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $6.34 billion, a PE ratio of 25.27 and a beta of 0.52. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $197.78.

Insider Buying and Selling at Paylocity

In other news, SVP Andrew Cappotelli sold 899 shares of the stock in a transaction that occurred 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 transaction, the senior vice president 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 document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 19.40% of the company’s stock.

Analyst Upgrades and Downgrades

PCTY has been the subject of several recent analyst reports. TD Cowen cut their price objective on Paylocity from $155.00 to $137.00 and set a “buy” rating for the company in a report on Friday, June 26th. Raymond James Financial set a $140.00 target price on shares of Paylocity in a report on Friday, May 8th. Citigroup upped their price target on shares of Paylocity from $133.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Zacks Research upgraded shares of Paylocity from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 20th. Finally, Barclays increased their price target on shares of Paylocity from $120.00 to $128.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.61.

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.