Focus Partners Advisor Solutions LLC Makes New Investment in Paylocity Holding Corporation $PCTY

Focus Partners Advisor Solutions LLC purchased a new stake in Paylocity Holding Corporation (NASDAQ:PCTY) during the second quarter, according to its most recent filing with the SEC. The firm purchased 8,350 shares of the software maker’s stock, valued at approximately $873,000.

Several other large investors have also recently made changes to their positions in the stock. State of Wyoming purchased a new stake in shares of Paylocity during the 2nd quarter worth $199,000. Elevation Wealth Partners LLC grew its stake in Paylocity by 500.0% in the second quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker’s stock valued at $36,000 after purchasing an additional 285 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Paylocity by 1.0% in the second quarter. Assenagon Asset Management S.A. now owns 414,632 shares of the software maker’s stock valued at $43,341,000 after purchasing an additional 3,904 shares during the last quarter. GAMMA Investing LLC raised its holdings in Paylocity by 36.6% in the second quarter. GAMMA Investing LLC now owns 2,678 shares of the software maker’s stock worth $280,000 after purchasing an additional 717 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in Paylocity by 111.6% in the second quarter. Versant Capital Management Inc now owns 4,557 shares of the software maker’s stock worth $476,000 after purchasing an additional 2,403 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Paylocity Stock Performance

Shares of PCTY opened at $145.47 on Tuesday. The stock has a 50-day moving average of $122.93 and a two-hundred day moving average of $114.69. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market cap of $7.72 billion, a P/E ratio of 29.39 and a beta of 0.47. Paylocity Holding Corporation has a one year low of $92.99 and a one year high of $182.83.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.22. The firm had revenue of $444.73 million during the quarter, compared to analysts’ expectations of $431.46 million. Paylocity had a return on equity of 27.02% and a net margin of 15.23%.The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the business posted $1.56 earnings per share. As a group, research analysts predict that Paylocity Holding Corporation will post 6.86 EPS for the current year.

Insider Transactions at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 11,136 shares of Paylocity stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $150.81, for a total transaction of $1,679,420.16. Following the completion of the sale, the director directly owned 4,535,052 shares in the company, valued at approximately $683,931,192.12. The trade was a 0.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 19.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PCTY shares. Citizens Jmp lowered their price target on shares of Paylocity from $170.00 to $150.00 and set a “market outperform” rating on the stock in a report on Friday, May 8th. KeyCorp raised their target price on shares of Paylocity from $172.00 to $178.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Stephens cut their price target on shares of Paylocity from $160.00 to $120.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Cantor Fitzgerald increased their price objective on Paylocity from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Finally, Truist Financial lowered their price objective on Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a research report on Monday, June 29th. Twelve equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Paylocity currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.00.

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.