Dimensional Fund Advisors LP Cuts Holdings in Paylocity Holding Corporation $PCTY

Dimensional Fund Advisors LP lowered its position in Paylocity Holding Corporation (NASDAQ:PCTY) by 9.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 600,205 shares of the software maker’s stock after selling 59,267 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Paylocity were worth $64,849,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PCTY. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Paylocity by 60.8% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 47,486 shares of the software maker’s stock valued at $7,249,000 after buying an additional 17,950 shares in the last quarter. Tudor Investment Corp ET AL grew its stake in Paylocity by 50.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 83,304 shares of the software maker’s stock valued at $13,268,000 after buying an additional 28,016 shares in the last quarter. Chicago Capital LLC grew its stake in Paylocity by 1,165.0% in the 4th quarter. Chicago Capital LLC now owns 97,579 shares of the software maker’s stock valued at $14,881,000 after buying an additional 89,865 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in Paylocity by 32.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 198,150 shares of the software maker’s stock valued at $30,218,000 after acquiring an additional 48,380 shares during the period. Finally, UBS Group AG raised its holdings in Paylocity by 38.3% during the 4th quarter. UBS Group AG now owns 415,879 shares of the software maker’s stock valued at $63,422,000 after acquiring an additional 115,111 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Price Performance

Paylocity stock opened at $137.90 on Friday. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of 29.40 and a beta of 0.52. 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 business has a 50-day simple moving average of $115.60 and a 200 day simple moving average of $114.59. Paylocity Holding Corporation has a 52 week low of $92.99 and a 52 week high of $197.78.

Insider Activity at Paylocity

In other news, SVP Andrew Cappotelli sold 899 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president owned 17,679 shares of the company’s stock, valued at approximately $2,033,968.95. The trade was a 4.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 19.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PCTY. TD Cowen cut their price target on Paylocity from $155.00 to $137.00 and set a “buy” rating for the company in a report on Friday, June 26th. Raymond James Financial set a $140.00 price objective on Paylocity in a research note on Friday, May 8th. Zacks Research cut Paylocity from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. KeyCorp cut 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. Finally, Wall Street Zen lowered Paylocity from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Twelve investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $151.88.

Paylocity Company 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.