Ranger Investment Management L.P. Increases Stake in Paylocity Holding Corporation $PCTY

Ranger Investment Management L.P. grew its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 5.7% during the 1st quarter, HoldingsChannel reports. The firm owned 182,925 shares of the software maker’s stock after buying an additional 9,910 shares during the period. Ranger Investment Management L.P.’s holdings in Paylocity were worth $19,763,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PCTY. Empowered Funds LLC purchased a new position in shares of Paylocity in the first quarter worth about $326,000. Quantinno Capital Management LP raised its holdings in Paylocity by 31.1% in the 1st quarter. Quantinno Capital Management LP now owns 502,913 shares of the software maker’s stock valued at $54,335,000 after acquiring an additional 119,374 shares during the last quarter. SummitTX Capital L.P. purchased a new position in Paylocity in the 1st quarter worth approximately $1,432,000. Lazard Asset Management LLC lifted its stake in Paylocity by 33.8% in the 1st quarter. Lazard Asset Management LLC now owns 25,890 shares of the software maker’s stock worth $2,797,000 after purchasing an additional 6,539 shares in the last quarter. Finally, Waverly Advisors LLC acquired a new position in shares of Paylocity during the 1st quarter worth approximately $276,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Robert W. Baird set a $193.00 price target on Paylocity in a report on Friday, May 8th. Truist Financial dropped their target price on Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a report on Monday, June 29th. Barclays raised their target price on Paylocity from $120.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. BMO Capital Markets lifted their price target on Paylocity from $135.00 to $143.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Raymond James Financial set a $140.00 price target on shares of Paylocity in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $151.88.

Paylocity Trading Up 6.5%

PCTY opened at $138.68 on Wednesday. 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 $7.42 billion, a PE ratio of 29.57 and a beta of 0.52. The business’s 50 day moving average price is $113.96 and its 200 day moving average price is $114.58. 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 other Paylocity 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 sale, the senior vice president owned 17,679 shares of the company’s stock, valued at $2,033,968.95. This trade represents a 4.84% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 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.