Dorsey & Whitney Trust CO LLC Makes New Investment in Paylocity Holding Co. (NASDAQ:PCTY)

Dorsey & Whitney Trust CO LLC bought a new stake in Paylocity Holding Co. (NASDAQ:PCTY) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,681 shares of the software maker’s stock, valued at approximately $222,000.

A number of other institutional investors have also made changes to their positions in the business. Van Berkom & Associates Inc. raised its stake in shares of Paylocity by 20.5% in the second quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker’s stock worth $76,447,000 after acquiring an additional 98,478 shares during the last quarter. Prudential PLC raised its position in Paylocity by 129.6% in the 2nd quarter. Prudential PLC now owns 2,928 shares of the software maker’s stock worth $386,000 after purchasing an additional 1,653 shares during the last quarter. Quest Partners LLC lifted its holdings in Paylocity by 82,275.0% during the 2nd quarter. Quest Partners LLC now owns 6,590 shares of the software maker’s stock worth $869,000 after buying an additional 6,582 shares in the last quarter. Acadian Asset Management LLC bought a new position in Paylocity in the 2nd quarter valued at $215,000. Finally, Chicago Capital LLC increased its stake in shares of Paylocity by 82.3% in the 2nd quarter. Chicago Capital LLC now owns 4,850 shares of the software maker’s stock valued at $639,000 after buying an additional 2,190 shares during the period. 94.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. KeyCorp cut their price target on Paylocity from $200.00 to $171.00 and set an “overweight” rating on the stock in a research note on Friday, July 19th. Robert W. Baird reduced their target price on shares of Paylocity from $225.00 to $195.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 18th. Stifel Nicolaus dropped their price target on shares of Paylocity from $205.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $250.00 price objective on shares of Paylocity in a research note on Monday, August 5th. Finally, Truist Financial dropped their target price on shares of Paylocity from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.13.

Paylocity Price Performance

NASDAQ PCTY opened at $155.57 on Friday. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $206.28. The firm has a market cap of $8.78 billion, a P/E ratio of 45.22, a P/E/G ratio of 3.72 and a beta of 0.94. The stock’s 50-day moving average is $150.61 and its 200-day moving average is $155.18.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, August 1st. The software maker reported $1.48 EPS for the quarter, topping the consensus estimate of $1.29 by $0.19. The firm had revenue of $357.30 million for the quarter, compared to the consensus estimate of $350.29 million. Paylocity had a net margin of 14.74% and a return on equity of 22.17%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the company posted $0.76 EPS. Equities analysts anticipate that Paylocity Holding Co. will post 4.51 EPS for the current year.

Insider Activity at Paylocity

In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the completion of the transaction, the chief executive officer now owns 1,745,022 shares in the company, valued at approximately $248,979,738.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the completion of the transaction, the chief executive officer now owns 1,745,022 shares of the company’s stock, valued at approximately $248,979,738.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Nicholas Rost sold 331 shares of Paylocity stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $138.73, for a total transaction of $45,919.63. Following the completion of the sale, the chief accounting officer now owns 4,751 shares in the company, valued at $659,106.23. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,173 shares of company stock valued at $7,296,388. 22.50% of the stock is owned by corporate insiders.

Paylocity Company 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.