RFG Advisory LLC Makes New $1.16 Million Investment in Paylocity Holding Corporation $PCTY

RFG Advisory LLC acquired a new stake in Paylocity Holding Corporation (NASDAQ:PCTY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,096 shares of the software maker’s stock, valued at approximately $1,160,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PCTY. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Paylocity by 5.9% during the first 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 purchasing an additional 7,594 shares during the period. Focus Partners Wealth grew its position in Paylocity by 24.5% in the 1st quarter. Focus Partners Wealth now owns 1,365 shares of the software maker’s stock valued at $256,000 after purchasing an additional 269 shares during the period. EverSource Wealth Advisors LLC increased its stake in Paylocity by 537.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 465 shares of the software maker’s stock valued at $84,000 after purchasing an additional 392 shares in the last quarter. Marshall Wace LLP increased its stake in Paylocity by 2,782.7% during the 2nd quarter. Marshall Wace LLP now owns 35,688 shares of the software maker’s stock valued at $6,466,000 after purchasing an additional 34,450 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in Paylocity by 10.0% during the second quarter. Cerity Partners LLC now owns 19,241 shares of the software maker’s stock worth $3,486,000 after buying an additional 1,749 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PCTY shares. Zacks Research lowered shares of Paylocity from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Citigroup restated a “buy” rating on shares of Paylocity in a report on Thursday, August 6th. UBS Group raised their price target on shares of Paylocity from $122.00 to $128.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Jefferies Financial Group reiterated a “buy” rating and set a $165.00 price target on shares of Paylocity in a research note on Wednesday, August 5th. Finally, Weiss Ratings raised Paylocity from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Twelve investment 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 an average rating of “Moderate Buy” and a consensus target price of $160.53.

Insider Buying and Selling at Paylocity

In other Paylocity news, CFO Ryan Glenn sold 3,345 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $149.75, for a total transaction of $500,913.75. Following the sale, the chief financial officer owned 122,563 shares in the company, valued at $18,353,809.25. This represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $156.80, for a total value of $493,136.00. Following the sale, the director owned 2,207 shares in the company, valued at approximately $346,057.60. This represents a 58.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 54,214 shares of company stock worth $8,322,580. Company insiders own 19.40% of the company’s stock.

Paylocity Stock Down 0.8%

Shares of NASDAQ PCTY opened at $141.66 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $7.52 billion, a PE ratio of 28.62 and a beta of 0.45. Paylocity Holding Corporation has a one year low of $92.99 and a one year high of $172.21. The business’s fifty day moving average price is $140.06 and its 200-day moving average price is $119.13.

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, beating analysts’ consensus estimates of $1.62 by $0.22. The business had revenue of $444.73 million for 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 firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.56 EPS. On average, equities research analysts anticipate that Paylocity Holding Corporation will post 6.92 EPS for the current year.

About Paylocity

Paylocity Holding Corporation is a provider of cloud-based human capital management (HCM) and workforce management software. Its platform is designed to help organizations manage payroll, human resources, employee benefits, talent, compliance and workforce operations through a unified system.

The company’s products and services include payroll processing, time and labor management, benefits administration, recruiting, onboarding, performance management, employee surveys and workplace communication tools.