Trillium Asset Management LLC Reduces Stock Position in Paylocity Holding Corporation $PCTY

Trillium Asset Management LLC cut its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 15.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,192 shares of the software maker’s stock after selling 15,736 shares during the period. Trillium Asset Management LLC’s holdings in Paylocity were worth $13,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in PCTY. Alyeska Investment Group L.P. purchased a new stake in shares of Paylocity in the third quarter valued at approximately $104,657,000. Norges Bank purchased a new stake in shares of Paylocity in the fourth quarter valued at approximately $88,428,000. BNP Paribas Financial Markets grew its position in shares of 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 in the last quarter. AQR Capital Management LLC grew its position in shares of Paylocity by 500.6% in the second quarter. AQR Capital Management LLC now owns 449,935 shares of the software maker’s stock valued at $81,438,000 after purchasing an additional 375,023 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Paylocity by 97.7% in the third quarter. Millennium Management LLC now owns 748,803 shares of the software maker’s stock valued at $119,262,000 after purchasing an additional 369,975 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Paylocity Price Performance

PCTY stock opened at $108.84 on Friday. The business has a fifty day moving average of $107.30 and a two-hundred day moving average of $122.64. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.07. The stock has a market cap of $5.83 billion, a price-to-earnings ratio of 23.21 and a beta of 0.51. Paylocity Holding Corporation has a 52-week low of $92.99 and a 52-week high of $197.78.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PCTY shares. BMO Capital Markets upped their price target on Paylocity from $135.00 to $143.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. KeyCorp dropped their price target on Paylocity from $190.00 to $172.00 and set an “overweight” rating for the company in a research report on Tuesday, April 28th. Citizens Jmp dropped their price target on Paylocity from $170.00 to $150.00 and set a “market outperform” rating for the company in a research report on Friday, May 8th. UBS Group upped their price target on Paylocity from $114.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, Citigroup upped their price target on Paylocity from $133.00 to $136.00 and gave the company a “buy” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $160.28.

Insider Transactions at Paylocity

In other Paylocity news, SVP Andrew Cappotelli sold 899 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $115.05, for a total transaction of $103,429.95. Following the completion of the sale, the senior vice president owned 17,679 shares of the company’s stock, valued at $2,033,968.95. This trade represents a 4.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.40% of the stock is currently owned by company insiders.

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.