Paylocity Holding Corporation $PCTY Shares Acquired by Corient Private Wealth LLC

Corient Private Wealth LLC lifted its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 393.4% in the fourth quarter, Holdings Channel reports. The firm owned 10,997 shares of the software maker’s stock after purchasing an additional 8,768 shares during the period. Corient Private Wealth LLC’s holdings in Paylocity were worth $1,677,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Alyeska Investment Group L.P. purchased a new stake in Paylocity during the third quarter worth approximately $104,657,000. Norges Bank purchased a new stake in Paylocity during the 4th quarter worth $88,428,000. Morgan Stanley boosted its position in Paylocity by 117.9% during the 4th quarter. Morgan Stanley now owns 817,209 shares of the software maker’s stock worth $124,625,000 after purchasing an additional 442,218 shares during the period. AQR Capital Management LLC increased its holdings in Paylocity by 75.1% in the 4th quarter. AQR Capital Management LLC now owns 943,591 shares of the software maker’s stock valued at $143,747,000 after purchasing an additional 404,605 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in Paylocity by 261.2% in the fourth quarter. BNP Paribas Financial Markets now owns 534,487 shares of the software maker’s stock valued at $81,509,000 after purchasing an additional 386,494 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Activity at Paylocity

In related news, SVP Andrew Cappotelli sold 899 shares of Paylocity stock in a transaction dated 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 transaction, the senior vice president directly owned 17,679 shares in the company, valued at approximately $2,033,968.95. This trade represents a 4.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 19.40% of the company’s stock.

Paylocity Price Performance

Shares of PCTY stock opened at $104.53 on Wednesday. The firm has a fifty day moving average of $107.65 and a two-hundred day moving average of $118.79. The firm has a market cap of $5.60 billion, a P/E ratio of 22.29 and a beta of 0.51. Paylocity Holding Corporation has a 1-year low of $92.99 and a 1-year high of $197.78. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.08 and a quick ratio of 1.08.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PCTY. KeyCorp lowered their target price on Paylocity from $190.00 to $172.00 and set an “overweight” rating for the company in a research note on Tuesday, April 28th. Barclays increased their price objective on shares of Paylocity from $120.00 to $128.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Weiss Ratings reissued a “sell (d+)” rating on shares of Paylocity in a research report on Friday, April 24th. Zacks Research raised shares of Paylocity from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 20th. Finally, BMO Capital Markets lifted their price target on shares of Paylocity from $135.00 to $143.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $156.61.

About Paylocity

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.