UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Holdings in Paylocity Holding Corporation $PCTY

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Paylocity Holding Corporation (NASDAQ:PCTY) by 23.2% in the 2nd quarter, Holdings Channel reports. The firm owned 135,491 shares of the software maker’s stock after acquiring an additional 25,509 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Paylocity were worth $14,163,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PCTY. Optiver Holding B.V. lifted its stake in shares of Paylocity by 5,925.0% in the first quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock worth $26,000 after buying an additional 237 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Paylocity in the 2nd quarter valued at about $27,000. Basecamp Wealth Advisors LLC raised its holdings in Paylocity by 4,250.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock valued at $28,000 after acquiring an additional 255 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Paylocity in the 4th quarter worth approximately $30,000. Finally, Elevation Wealth Partners LLC lifted its stake in Paylocity by 500.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker’s stock worth $36,000 after purchasing an additional 285 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PCTY. Zacks Research cut Paylocity from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. TD Cowen raised their target price on Paylocity from $168.00 to $177.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Truist Financial reduced their price target on Paylocity from $180.00 to $165.00 and set a “buy” rating on the stock in a report on Monday, June 29th. BMO Capital Markets boosted their price target on shares of Paylocity from $143.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Paylocity from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $160.53.

Paylocity Stock Down 1.4%

Shares of NASDAQ:PCTY opened at $152.25 on Friday. The business has a 50-day moving average price of $136.65 and a 200 day moving average price of $117.84. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $8.08 billion, a price-to-earnings ratio of 30.76 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.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Tuesday, August 4th. The software maker reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.22. The company had revenue of $444.73 million for the quarter, compared to analysts’ expectations of $431.46 million. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. Paylocity’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.56 earnings per share. Sell-side analysts expect that Paylocity Holding Corporation will post 6.92 EPS for the current year.

Insider Transactions at Paylocity

In other Paylocity news, SVP Joshua Scutt sold 4,730 shares of the business’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 value of $708,648.60. Following the sale, the senior vice president owned 75,729 shares of the company’s stock, valued at $11,345,718.78. The trade was a 5.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ryan Glenn sold 3,345 shares of the firm’s stock in a transaction on 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 owned 122,563 shares of the company’s stock, valued at approximately $18,353,809.25. This represents a 2.66% 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. In the last 90 days, insiders sold 54,145 shares of company stock worth $8,312,067. 19.40% of the stock is owned by company insiders.

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.