Paylocity Holding Corporation $PCTY Shares Acquired by Sovereign s Capital Management LLC

Sovereign s Capital Management LLC lifted its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 34.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,814 shares of the software maker’s stock after buying an additional 5,815 shares during the quarter. Paylocity makes up approximately 2.1% of Sovereign s Capital Management LLC’s investment portfolio, making the stock its 19th largest position. Sovereign s Capital Management LLC’s holdings in Paylocity were worth $3,479,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. PNC Financial Services Group Inc. raised its stake in shares of Paylocity by 2.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,313 shares of the software maker’s stock worth $528,000 after buying an additional 81 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Paylocity by 35.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 428 shares of the software maker’s stock worth $77,000 after buying an additional 111 shares during the period. Fisher Asset Management LLC increased its position in shares of Paylocity by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 7,382 shares of the software maker’s stock worth $1,126,000 after purchasing an additional 122 shares in the last quarter. True Wealth Design LLC increased its position in shares of Paylocity by 43.4% during the fourth quarter. True Wealth Design LLC now owns 410 shares of the software maker’s stock worth $63,000 after purchasing an additional 124 shares in the last quarter. Finally, Allworth Financial LP increased its position in shares of Paylocity by 88.0% during the third quarter. Allworth Financial LP now owns 282 shares of the software maker’s stock worth $45,000 after purchasing an additional 132 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Paylocity Stock Down 2.5%

Shares of PCTY opened at $104.31 on Wednesday. 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 50 day moving average price of $107.28 and a 200 day moving average price of $121.89. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 22.24 and a beta of 0.51. Paylocity Holding Corporation has a one year low of $92.99 and a one year high of $197.78.

Wall Street Analysts Forecast Growth

PCTY has been the subject of several research reports. BMO Capital Markets boosted their price target on Paylocity from $135.00 to $143.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Paylocity in a research report on Friday, April 24th. UBS Group boosted their price target on Paylocity from $114.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Barclays boosted their price target on Paylocity from $120.00 to $128.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Finally, Jefferies Financial Group set a $135.00 price target on Paylocity in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.28.

Insider Transactions at Paylocity

In other Paylocity news, SVP Andrew Cappotelli sold 899 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $115.05, for a total value of $103,429.95. Following the completion of the sale, the senior vice president directly 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 filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is currently owned by insiders.

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.