Janus Henderson Group PLC Raises Stock Holdings in Paylocity Holding Corporation $PCTY

Janus Henderson Group PLC raised its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 97.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 452,153 shares of the software maker’s stock after buying an additional 222,593 shares during the quarter. Janus Henderson Group PLC owned about 0.84% of Paylocity worth $48,857,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. State of Michigan Retirement System raised its stake in shares of Paylocity by 1.0% in the 1st quarter. State of Michigan Retirement System now owns 10,472 shares of the software maker’s stock valued at $1,131,000 after acquiring an additional 100 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Paylocity by 3.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,419 shares of the software maker’s stock worth $521,000 after acquiring an additional 106 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Paylocity by 35.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 428 shares of the software maker’s stock worth $77,000 after purchasing an additional 111 shares during the period. State of Wyoming boosted its position in shares of Paylocity by 16.0% during the 1st quarter. State of Wyoming now owns 861 shares of the software maker’s stock worth $93,000 after purchasing an additional 119 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in Paylocity by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 7,382 shares of the software maker’s stock valued at $1,126,000 after purchasing an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Buying and Selling at Paylocity

In other news, SVP Andrew Cappotelli sold 899 shares of the company’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 sale, the senior vice president owned 17,679 shares of the company’s stock, valued at approximately $2,033,968.95. This 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 can be accessed 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 issued reports on the company. Barclays boosted their target price on Paylocity from $120.00 to $128.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. TD Cowen dropped their price objective on Paylocity from $155.00 to $137.00 and set a “buy” rating for the company in a research note on Friday, June 26th. Zacks Research downgraded Paylocity from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Citigroup increased their target price on Paylocity from $133.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Finally, Citizens Jmp lowered their target price on Paylocity from $170.00 to $150.00 and set a “market outperform” rating for the company in a report on Friday, May 8th. Twelve research 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. Based on data from MarketBeat.com, Paylocity has an average rating of “Moderate Buy” and an average target price of $151.88.

Paylocity Price Performance

Paylocity stock opened at $137.90 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a 52-week low of $92.99 and a 52-week high of $197.78. The firm has a market cap of $7.38 billion, a PE ratio of 29.40 and a beta of 0.52. The company’s 50 day moving average is $115.60 and its two-hundred day moving average is $114.59.

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.