First Trust Advisors LP Has $18.84 Million Position in Paylocity Holding Corporation $PCTY

First Trust Advisors LP lifted its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 16.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 174,389 shares of the software maker’s stock after purchasing an additional 24,477 shares during the quarter. First Trust Advisors LP’s holdings in Paylocity were worth $18,841,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Alyeska Investment Group L.P. bought a new position in Paylocity in the 3rd quarter valued at approximately $104,657,000. Norges Bank bought a new stake in shares of Paylocity during the fourth quarter worth $88,428,000. Morgan Stanley increased its holdings in shares of Paylocity by 117.9% during the fourth quarter. Morgan Stanley now owns 817,209 shares of the software maker’s stock worth $124,625,000 after buying an additional 442,218 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Paylocity by 75.1% during the fourth quarter. AQR Capital Management LLC now owns 943,591 shares of the software maker’s stock worth $143,747,000 after buying an additional 404,605 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Paylocity by 261.2% in the 4th quarter. BNP Paribas Financial Markets now owns 534,487 shares of the software maker’s stock valued at $81,509,000 after acquiring an additional 386,494 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Paylocity

In related news, SVP Andrew Cappotelli sold 899 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president directly owned 17,679 shares of the company’s stock, valued at $2,033,968.95. This trade represents a 4.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is currently owned by corporate insiders.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $144.79 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.08. Paylocity Holding Corporation has a 52 week low of $92.99 and a 52 week high of $197.78. The firm has a market cap of $7.75 billion, a PE ratio of 30.87 and a beta of 0.52. The firm’s fifty day moving average is $114.60 and its 200-day moving average is $114.52.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barclays raised their price objective on Paylocity from $120.00 to $128.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Robert W. Baird set a $193.00 target price on Paylocity in a report on Friday, May 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Paylocity in a research report on Tuesday, July 21st. BMO Capital Markets lifted their price target on Paylocity from $135.00 to $143.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, KeyCorp reduced their price target on Paylocity from $190.00 to $172.00 and set an “overweight” rating on the stock in a report on Tuesday, April 28th. Twelve research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $151.88.

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.