Proficio Capital Partners LLC Makes New Investment in Paylocity Holding Corporation $PCTY

Proficio Capital Partners LLC bought a new position in Paylocity Holding Corporation (NASDAQ:PCTY) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 3,330 shares of the software maker’s stock, valued at approximately $348,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Paylocity during the second quarter valued at about $430,315,000. Jupiter Topco LLC bought a new stake in Paylocity in the 2nd quarter worth about $70,540,000. Alyeska Investment Group L.P. purchased a new stake in Paylocity in the 3rd quarter valued at about $104,657,000. Norges Bank bought a new position in shares of Paylocity during the 4th quarter worth approximately $88,428,000. Finally, Deutsche Bank AG purchased a new position in shares of Paylocity in the 2nd quarter worth approximately $54,906,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Activity

In other news, SVP Joshua Scutt sold 4,730 shares of Paylocity stock in a transaction dated Wednesday, August 19th. The shares were 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 owned 75,729 shares in the company, valued at $11,345,718.78. This trade represents a 5.88% 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, Director Steven Sarowitz sold 19,459 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $157.78, for a total transaction of $3,070,241.02. Following the completion of the sale, the director directly owned 4,453,495 shares in the company, valued at approximately $702,672,441.10. This trade represents a 0.44% 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. Over the last three months, insiders have sold 54,145 shares of company stock valued at $8,312,067. 19.40% of the stock is currently owned by corporate insiders.

Paylocity Stock Performance

Shares of PCTY opened at $154.43 on Friday. Paylocity Holding Corporation has a 1 year low of $92.99 and a 1 year high of $178.91. 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 $135.73 and its two-hundred day moving average price is $117.60. The firm has a market cap of $8.19 billion, a PE ratio of 31.20 and a beta of 0.45.

Paylocity (NASDAQ:PCTY) last posted its quarterly 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 return on equity of 27.02% and a net margin of 15.23%.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 company earned $1.56 EPS. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts forecast that Paylocity Holding Corporation will post 6.92 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PCTY shares. Barclays upped their target price on Paylocity from $128.00 to $154.00 and gave the company an “equal weight” rating in a report on Wednesday, August 5th. Jefferies Financial Group reissued a “buy” rating and issued a $165.00 price objective on shares of Paylocity in a research report on Wednesday, August 5th. Raymond James Financial set a $140.00 target price on Paylocity in a research report on Friday, May 8th. Cantor Fitzgerald boosted their price target on shares of Paylocity from $140.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Finally, Robert W. Baird set a $201.00 price objective on shares of Paylocity in a report on Wednesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.53.

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.