Boyd Watterson Asset Management LLC OH Makes New $556,000 Investment in Paylocity Holding Corporation $PCTY

Boyd Watterson Asset Management LLC OH purchased a new stake in Paylocity Holding Corporation (NASDAQ:PCTY) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,150 shares of the software maker’s stock, valued at approximately $556,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its position in shares of Paylocity by 3.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,419 shares of the software maker’s stock worth $521,000 after acquiring an additional 106 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Paylocity by 35.0% during the second quarter. Smartleaf Asset Management LLC now owns 428 shares of the software maker’s stock worth $77,000 after acquiring an additional 111 shares during the period. Fisher Asset Management LLC lifted its position in Paylocity by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 7,382 shares of the software maker’s stock valued at $1,126,000 after acquiring an additional 122 shares in the last quarter. True Wealth Design LLC boosted its stake in Paylocity by 43.4% in the 4th quarter. True Wealth Design LLC now owns 410 shares of the software maker’s stock worth $63,000 after purchasing an additional 124 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in Paylocity by 0.4% in the 4th quarter. Hsbc Holdings PLC now owns 29,653 shares of the software maker’s stock worth $4,535,000 after purchasing an additional 128 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PCTY shares. Truist Financial lowered their target price on Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a report on Monday. Wall Street Zen raised Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Barclays increased their price objective on Paylocity from $120.00 to $128.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. KeyCorp dropped their target price on Paylocity from $190.00 to $172.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 28th. Finally, Raymond James Financial set a $140.00 target price on Paylocity in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $156.61.

Insider Activity

In other news, SVP Andrew Cappotelli sold 899 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president owned 17,679 shares in the company, valued at $2,033,968.95. This represents a 4.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 Stock Performance

Shares of NASDAQ PCTY opened at $115.10 on Friday. The stock has a 50 day moving average price of $108.05 and a 200 day moving average price of $118.27. Paylocity Holding Corporation has a 52 week low of $92.99 and a 52 week high of $197.78. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $6.16 billion, a PE ratio of 24.54 and a beta of 0.52.

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.