Legal & General Group Plc Invests $5.96 Million in Paylocity Holding Corporation $PCTY

Legal & General Group Plc acquired a new position in Paylocity Holding Corporation (NASDAQ:PCTY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 57,031 shares of the software maker’s stock, valued at approximately $5,961,000. Legal & General Group Plc owned approximately 0.11% of Paylocity at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PCTY. Los Angeles Capital Management LLC acquired a new stake in Paylocity in the 4th quarter worth approximately $30,000. Advisory Services Network LLC purchased a new stake in shares of Paylocity during the third quarter valued at $38,000. Optiver Holding B.V. increased its position in shares of Paylocity by 5,925.0% in the 1st quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock valued at $26,000 after acquiring an additional 237 shares during the period. Global Retirement Partners LLC acquired a new position in shares of Paylocity in the 2nd quarter valued at $27,000. Finally, Basecamp Wealth Advisors LLC raised its stake in Paylocity by 4,250.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock worth $28,000 after acquiring an additional 255 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PCTY shares. Barclays increased their price objective on Paylocity from $128.00 to $154.00 and gave the company an “equal weight” rating in a report on Wednesday, August 5th. Citigroup restated a “buy” rating on shares of Paylocity in a research report on Thursday, August 6th. BMO Capital Markets upped their price target on shares of Paylocity from $143.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. TD Cowen increased their price target on Paylocity from $168.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Finally, Robert W. Baird set a $201.00 price objective on Paylocity in a research note on Wednesday, August 5th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Paylocity has a consensus rating of “Moderate Buy” and a consensus target price of $160.53.

Insider Activity at Paylocity

In other news, SVP Joshua Scutt sold 4,730 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $149.82, for a total transaction of $708,648.60. Following the completion of the sale, the senior vice president owned 75,729 shares of the company’s stock, valued at $11,345,718.78. The trade was a 5.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Craig Conway sold 3,145 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $156.80, for a total transaction of $493,136.00. Following the completion of the transaction, the director directly owned 2,207 shares in the company, valued at $346,057.60. This represents a 58.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 54,145 shares of company stock valued at $8,312,067 in the last three months. Company insiders own 19.40% of the company’s stock.

Paylocity Price Performance

NASDAQ:PCTY opened at $154.43 on Friday. 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 Holding Corporation has a 52 week low of $92.99 and a 52 week high of $178.91. The stock’s 50-day moving average price is $135.73 and its 200-day moving average price is $117.60. The stock has a market capitalization of $8.19 billion, a PE ratio of 31.20 and a beta of 0.45.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.22. The company had revenue of $444.73 million for the quarter, compared to the consensus estimate of $431.46 million. Paylocity had a return on equity of 27.02% and a net margin of 15.23%.Paylocity’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.56 earnings per share. As a group, equities analysts expect that Paylocity Holding Corporation will post 6.92 EPS for the current fiscal year.

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.