32,651 Shares in Paylocity Holding Corporation $PCTY Acquired by Sone Capital Management LLC

Sone Capital Management LLC acquired a new stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 32,651 shares of the software maker’s stock, valued at approximately $3,413,000. Sone Capital Management LLC owned 0.06% of Paylocity at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. State of Michigan Retirement System lifted its stake in Paylocity by 1.0% in the first quarter. State of Michigan Retirement System now owns 10,472 shares of the software maker’s stock valued at $1,131,000 after buying an additional 100 shares during the last quarter. PNC Financial Services Group Inc. grew 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 during the last quarter. Smartleaf Asset Management LLC grew its position 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 last quarter. State of Wyoming increased its holdings in shares of Paylocity by 16.0% in the 1st quarter. State of Wyoming now owns 861 shares of the software maker’s stock worth $93,000 after acquiring an additional 119 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in shares of Paylocity by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 7,382 shares of the software maker’s stock worth $1,126,000 after acquiring an additional 122 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Insider Activity at Paylocity

In related news, CFO Ryan Glenn sold 3,345 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $149.75, for a total transaction of $500,913.75. Following the transaction, the chief financial officer owned 122,563 shares in the company, valued at $18,353,809.25. This trade represents a 2.66% 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. Also, SVP Joshua Scutt sold 4,730 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $149.82, for a total value of $708,648.60. Following the sale, the senior vice president directly owned 75,729 shares in the company, valued at approximately $11,345,718.78. The trade was a 5.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 30,300 shares of company stock valued at $4,553,607. Insiders own 19.40% of the company’s stock.

Paylocity Stock Performance

PCTY stock opened at $152.45 on Tuesday. The company has a market capitalization of $8.09 billion, a P/E ratio of 30.80 and a beta of 0.47. The company has a 50-day simple moving average of $127.05 and a 200 day simple moving average of $115.29. Paylocity Holding Corporation has a fifty-two week low of $92.99 and a fifty-two week high of $182.36. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.22. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The firm had revenue of $444.73 million during the quarter, compared to analyst estimates of $431.46 million. During the same quarter in the prior year, the firm posted $1.56 EPS. Paylocity’s revenue was up 11.0% compared to the same quarter last year. Sell-side analysts predict that Paylocity Holding Corporation will post 6.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PCTY shares. BMO Capital Markets boosted their target price on shares of Paylocity from $143.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Cantor Fitzgerald raised their price target on shares of Paylocity from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Citizens Jmp cut their price target on Paylocity from $170.00 to $150.00 and set a “market outperform” rating on the stock in a report on Friday, May 8th. Wall Street Zen cut Paylocity from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Finally, Barclays boosted their price objective on Paylocity from $128.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 5th. Twelve equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $160.53.

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.