WCM Investment Management LLC purchased a new position in shares of Paylocity Holding Corp (NASDAQ:PCTY) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 16,679 shares of the software maker’s stock, valued at approximately $1,576,000.
Other large investors also recently bought and sold shares of the company. Nordea Investment Management AB lifted its stake in shares of Paylocity by 1.6% during the first quarter. Nordea Investment Management AB now owns 61,542 shares of the software maker’s stock valued at $5,489,000 after acquiring an additional 954 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in Paylocity during the first quarter valued at approximately $61,000. Marshall Wace North America L.P. boosted its position in Paylocity by 35.6% during the first quarter. Marshall Wace North America L.P. now owns 64,456 shares of the software maker’s stock valued at $5,749,000 after purchasing an additional 16,908 shares during the last quarter. Broadleaf Partners LLC lifted its position in shares of Paylocity by 26.5% in the second quarter. Broadleaf Partners LLC now owns 38,275 shares of the software maker’s stock valued at $3,591,000 after buying an additional 8,023 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Paylocity in the fourth quarter valued at approximately $12,819,000. 63.02% of the stock is currently owned by institutional investors and hedge funds.
Paylocity stock traded down $0.33 during mid-day trading on Friday, reaching $109.53. 12,714 shares of the company were exchanged, compared to its average volume of 381,253. The company has a fifty day simple moving average of $103.64 and a 200-day simple moving average of $94.41. Paylocity Holding Corp has a 12 month low of $53.46 and a 12 month high of $111.61. The firm has a market cap of $5.81 billion, a PE ratio of 100.90, a PEG ratio of 5.00 and a beta of 1.69.
A number of research firms have recently issued reports on PCTY. Stifel Nicolaus raised their price objective on Paylocity from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Jefferies Financial Group lifted their price target on Paylocity to $115.00 in a report on Thursday, August 8th. Raymond James lifted their price target on Paylocity from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, May 17th. KeyCorp lifted their price target on Paylocity from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada reissued a “neutral” rating on shares of Paylocity in a report on Sunday, August 11th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $105.67.
In other news, SVP Edward W. Gaty sold 7,768 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $97.54, for a total value of $757,690.72. Following the transaction, the senior vice president now directly owns 126,392 shares of the company’s stock, valued at approximately $12,328,275.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald V. Waters sold 4,516 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $106.30, for a total value of $480,050.80. Following the completion of the sale, the director now directly owns 14,415,427 shares of the company’s stock, valued at $1,532,359,890.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 269,844 shares of company stock worth $26,743,669. Corporate insiders own 41.20% of the company’s stock.
Paylocity Company Profile
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.
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