Lazard Asset Management LLC Raises Stock Holdings in Paylocity Holding Corporation $PCTY

Lazard Asset Management LLC grew its holdings in Paylocity Holding Corporation (NASDAQ:PCTY) by 33.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,890 shares of the software maker’s stock after buying an additional 6,539 shares during the quarter. Lazard Asset Management LLC’s holdings in Paylocity were worth $2,797,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. State of Michigan Retirement System lifted its position in shares of Paylocity by 1.0% during 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 buying an additional 100 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in 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 in the last quarter. Smartleaf Asset Management LLC increased its holdings in Paylocity by 35.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 428 shares of the software maker’s stock worth $77,000 after acquiring an additional 111 shares in the last quarter. State of Wyoming raised its position in Paylocity by 16.0% during the first quarter. State of Wyoming now owns 861 shares of the software maker’s stock worth $93,000 after acquiring an additional 119 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in Paylocity by 1.7% during the fourth 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 in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Paylocity news, SVP Andrew Cappotelli sold 899 shares of Paylocity stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $115.05, for a total transaction of $103,429.95. Following the transaction, the senior vice president directly owned 17,679 shares of the company’s stock, valued at $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 is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 19.40% of the company’s stock.

Paylocity Price Performance

Paylocity stock opened at $137.90 on Friday. Paylocity Holding Corporation has a 52-week low of $92.99 and a 52-week high of $197.78. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 29.40 and a beta of 0.52. The company has a fifty day simple moving average of $115.60 and a 200-day simple moving average of $114.59. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.07.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Paylocity in a research report on Tuesday, July 21st. Citizens Jmp reduced their price target on shares of Paylocity from $170.00 to $150.00 and set a “market outperform” rating for the company in a research report on Friday, May 8th. Zacks Research lowered shares of Paylocity from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Jefferies Financial Group set a $135.00 price objective on Paylocity in a report on Saturday, May 9th. Finally, Truist Financial cut their price objective on Paylocity from $180.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, June 29th. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $151.88.

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.