Truist Financial Corp Sells 16,254 Shares of Paylocity Holding Corporation $PCTY

Truist Financial Corp lowered its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 75.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,200 shares of the software maker’s stock after selling 16,254 shares during the period. Truist Financial Corp’s holdings in Paylocity were worth $793,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PCTY. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Paylocity by 5.9% in 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 during the last quarter. Focus Partners Wealth grew its holdings in Paylocity by 24.5% in the 1st quarter. Focus Partners Wealth now owns 1,365 shares of the software maker’s stock worth $256,000 after acquiring an additional 269 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Paylocity by 537.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 465 shares of the software maker’s stock worth $84,000 after acquiring an additional 392 shares during the last quarter. Marshall Wace LLP grew its holdings in Paylocity by 2,782.7% in the 2nd quarter. Marshall Wace LLP now owns 35,688 shares of the software maker’s stock worth $6,466,000 after acquiring an additional 34,450 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in Paylocity by 10.0% in the 2nd quarter. Cerity Partners LLC now owns 19,241 shares of the software maker’s stock worth $3,486,000 after acquiring an additional 1,749 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Analysts Set New Price Targets

PCTY has been the topic of a number of recent analyst reports. UBS Group raised their price target on shares of Paylocity from $114.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Wall Street Zen lowered shares of Paylocity from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Robert W. Baird set a $193.00 price target on shares of Paylocity in a report on Friday, May 8th. Barclays raised their price target on shares of Paylocity from $120.00 to $128.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Finally, Stifel Nicolaus cut their price target on shares of Paylocity from $188.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Fourteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $160.28.

Paylocity Stock Performance

Shares of PCTY opened at $107.12 on Monday. The firm’s 50-day moving average price is $106.76 and its 200-day moving average price is $126.94. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 22.84 and a beta of 0.49. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a 1-year low of $92.99 and a 1-year high of $201.62.

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.