Edgestream Partners L.P. Raises Stock Position in Paylocity Holding Corporation $PCTY

Edgestream Partners L.P. grew its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 30.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,503 shares of the software maker’s stock after buying an additional 6,715 shares during the period. Edgestream Partners L.P.’s holdings in Paylocity were worth $3,079,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Paylocity by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,388 shares of the software maker’s stock worth $25,551,000 after acquiring an additional 7,594 shares in the last quarter. Focus Partners Wealth boosted its stake in Paylocity by 24.5% in the first quarter. Focus Partners Wealth now owns 1,365 shares of the software maker’s stock valued at $256,000 after acquiring an additional 269 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Paylocity by 537.0% in the second quarter. EverSource Wealth Advisors LLC now owns 465 shares of the software maker’s stock valued at $84,000 after acquiring an additional 392 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Paylocity by 2,782.7% during the second quarter. Marshall Wace LLP now owns 35,688 shares of the software maker’s stock worth $6,466,000 after purchasing an additional 34,450 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of Paylocity by 10.0% during the second quarter. Cerity Partners LLC now owns 19,241 shares of the software maker’s stock worth $3,486,000 after purchasing an additional 1,749 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on PCTY. Robert W. Baird set a $193.00 target price on Paylocity in a research report on Friday, May 8th. Jefferies Financial Group set a $135.00 target price on Paylocity in a research report on Saturday, May 9th. Citigroup raised their price target on Paylocity from $133.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Zacks Research lowered Paylocity from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, UBS Group boosted their price objective on Paylocity from $122.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $151.88.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $137.90 on Friday. Paylocity Holding Corporation has a one year low of $92.99 and a one year high of $197.78. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 29.40 and a beta of 0.52. The company has a 50-day simple moving average of $115.60 and a 200-day simple moving average of $114.59. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.08.

Insider Transactions at Paylocity

In related news, SVP Andrew Cappotelli sold 899 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $115.05, for a total value of $103,429.95. Following the transaction, the senior vice president owned 17,679 shares in the company, valued at $2,033,968.95. The trade was a 4.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is owned by company 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.