Two Sigma Securities LLC Invests $625,000 in Paylocity Holding Corporation $PCTY

Two Sigma Securities LLC bought a new stake in Paylocity Holding Corporation (NASDAQ:PCTY) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,980 shares of the software maker’s stock, valued at approximately $625,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. acquired a new position in Paylocity during the second quarter worth about $430,315,000. AQR Capital Management LLC raised its holdings in Paylocity by 75.1% in the 4th quarter. AQR Capital Management LLC now owns 943,591 shares of the software maker’s stock valued at $143,747,000 after acquiring an additional 404,605 shares during the last quarter. Morgan Stanley raised its holdings in Paylocity by 117.9% in the 4th quarter. Morgan Stanley now owns 817,209 shares of the software maker’s stock valued at $124,625,000 after acquiring an additional 442,218 shares during the last quarter. Millennium Management LLC lifted its stake in Paylocity by 97.7% in the 3rd quarter. Millennium Management LLC now owns 748,803 shares of the software maker’s stock worth $119,262,000 after purchasing an additional 369,975 shares in the last quarter. Finally, Jupiter Topco LLC purchased a new position in Paylocity in the 2nd quarter worth approximately $70,540,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PCTY shares. Jefferies Financial Group reiterated a “buy” rating and set a $165.00 price target on shares of Paylocity in a report on Wednesday, August 5th. Barclays raised their price objective on shares of Paylocity from $128.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 5th. Truist Financial reduced their target price on shares of Paylocity from $180.00 to $165.00 and set a “buy” rating on the stock in a research note on Monday, June 29th. Weiss Ratings raised shares of Paylocity from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Finally, Stephens cut their price target on shares of Paylocity from $160.00 to $120.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $160.53.

Paylocity Stock Down 2.6%

Shares of PCTY opened at $156.02 on Wednesday. The firm has a market cap of $8.28 billion, a P/E ratio of 31.52 and a beta of 0.45. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $178.91. The company’s 50-day moving average price is $133.64 and its 200 day moving average price is $116.91. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.07.

Paylocity (NASDAQ:PCTY) last announced 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 analyst estimates of $431.46 million. During the same quarter last year, the firm posted $1.56 earnings per share. Paylocity’s revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts forecast that Paylocity Holding Corporation will post 6.92 earnings per share for the current year.

Insider Activity

In other Paylocity news, SVP Andrew Cappotelli sold 2,550 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $149.83, for a total transaction of $382,066.50. Following the transaction, the senior vice president directly owned 44,329 shares in the company, valued at $6,641,814.07. This represents a 5.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 on Wednesday, August 19th. The stock was sold at an average price of $149.82, for a total value of $708,648.60. Following the transaction, the senior vice president owned 75,729 shares of the company’s stock, valued at approximately $11,345,718.78. This represents a 5.88% decrease in their ownership of the stock. 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 have sold a total of 54,145 shares of company stock worth $8,312,067 in the last three months. 19.40% of the stock is currently owned by corporate insiders.

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.