Paylocity Holding Co. (NASDAQ:PCTY) Stock Position Raised by Trillium Asset Management LLC

Trillium Asset Management LLC lifted its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 2.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,815 shares of the software maker’s stock after purchasing an additional 466 shares during the period. Trillium Asset Management LLC’s holdings in Paylocity were worth $4,395,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Harvest Fund Management Co. Ltd purchased a new stake in Paylocity during the first quarter valued at about $33,000. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Paylocity by 135.1% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 174 shares of the software maker’s stock valued at $35,000 after acquiring an additional 100 shares during the period. Coppell Advisory Solutions Corp. purchased a new stake in shares of Paylocity in the 4th quarter valued at approximately $44,000. V Square Quantitative Management LLC acquired a new position in Paylocity in the 2nd quarter worth approximately $47,000. Finally, Clearstead Advisors LLC grew its position in Paylocity by 872.4% during the 1st quarter. Clearstead Advisors LLC now owns 282 shares of the software maker’s stock worth $56,000 after purchasing an additional 253 shares in the last quarter. 73.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PCTY shares. Needham & Company LLC reduced their target price on Paylocity from $325.00 to $200.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Piper Sandler decreased their price objective on Paylocity from $249.00 to $207.00 and set an “overweight” rating for the company in a research report on Friday, November 3rd. TheStreet downgraded Paylocity from a “b-” rating to a “c+” rating in a report on Thursday, November 2nd. Bank of America started coverage on shares of Paylocity in a report on Thursday, October 26th. They set a “neutral” rating and a $210.00 price target for the company. Finally, Barclays upped their price objective on shares of Paylocity from $213.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, October 12th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Paylocity has an average rating of “Moderate Buy” and a consensus target price of $225.75.

Paylocity Trading Down 1.5 %

NASDAQ PCTY traded down $2.37 during trading on Thursday, hitting $151.81. 23,494 shares of the company traded hands, compared to its average volume of 446,127. Paylocity Holding Co. has a 12 month low of $139.40 and a 12 month high of $235.00. The business has a fifty day simple moving average of $181.08 and a 200 day simple moving average of $188.56. The company has a market capitalization of $8.53 billion, a P/E ratio of 59.99, a PEG ratio of 2.49 and a beta of 1.05.

Insider Activity

In other Paylocity news, CFO Ryan Glenn sold 500 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $202.06, for a total transaction of $101,030.00. Following the completion of the sale, the chief financial officer now owns 35,087 shares of the company’s stock, valued at $7,089,679.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Joshua Scutt sold 1,206 shares of the business’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $200.00, for a total transaction of $241,200.00. Following the completion of the transaction, the senior vice president now owns 30,367 shares of the company’s stock, valued at approximately $6,073,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ryan Glenn sold 500 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $202.06, for a total value of $101,030.00. Following the completion of the sale, the chief financial officer now directly owns 35,087 shares in the company, valued at approximately $7,089,679.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 151,675 shares of company stock valued at $29,982,845. Insiders own 22.50% of the company’s stock.

Paylocity Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.