Renaissance Group LLC boosted its position in Paylocity Holding Co. (NASDAQ:PCTY – Free Report) by 21.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,080 shares of the software maker’s stock after acquiring an additional 1,935 shares during the quarter. Renaissance Group LLC’s holdings in Paylocity were worth $1,827,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCTY. Vanguard Group Inc. lifted its stake in shares of Paylocity by 0.6% during the third quarter. Vanguard Group Inc. now owns 4,144,262 shares of the software maker’s stock worth $753,012,000 after purchasing an additional 25,562 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Paylocity in the fourth quarter worth about $82,172,000. Liontrust Investment Partners LLP acquired a new position in shares of Paylocity in the third quarter worth about $90,181,000. Westfield Capital Management Co. LP lifted its stake in shares of Paylocity by 26.8% in the third quarter. Westfield Capital Management Co. LP now owns 472,517 shares of the software maker’s stock worth $85,856,000 after acquiring an additional 99,781 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Paylocity by 2.3% in the third quarter. Northern Trust Corp now owns 441,200 shares of the software maker’s stock worth $80,166,000 after acquiring an additional 9,893 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.
Paylocity Stock Performance
Shares of NASDAQ PCTY traded up $0.69 during mid-day trading on Tuesday, reaching $172.12. The company had a trading volume of 120,913 shares, compared to its average volume of 492,579. Paylocity Holding Co. has a twelve month low of $139.40 and a twelve month high of $230.52. The stock has a market capitalization of $9.71 billion, a PE ratio of 49.83, a price-to-earnings-growth ratio of 3.24 and a beta of 0.88. The stock’s 50 day moving average is $165.56 and its 200-day moving average is $162.17.
Insider Transactions at Paylocity
Analyst Ratings Changes
Several research firms recently commented on PCTY. Barclays boosted their price target on Paylocity from $166.00 to $178.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Truist Financial lowered their price objective on Paylocity from $250.00 to $200.00 and set a “buy” rating for the company in a report on Friday, February 9th. KeyCorp boosted their price objective on Paylocity from $186.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. TD Cowen lowered their price objective on Paylocity from $188.00 to $180.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Finally, Mizuho lowered their price objective on Paylocity from $170.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, February 9th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Paylocity currently has an average rating of “Moderate Buy” and a consensus price target of $196.67.
Check Out Our Latest Stock Analysis on PCTY
About Paylocity
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.
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