Assenagon Asset Management S.A. Boosts Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Assenagon Asset Management S.A. lifted its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 1,896.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,966 shares of the software maker’s stock after purchasing an additional 45,564 shares during the period. Assenagon Asset Management S.A. owned about 0.09% of Paylocity worth $7,913,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. UMB Bank n.a. grew its position in shares of Paylocity by 1,650.0% during the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after buying an additional 165 shares in the last quarter. Rothschild Investment LLC acquired a new position in Paylocity during the 2nd quarter worth approximately $40,000. J.Safra Asset Management Corp increased its position in shares of Paylocity by 80.0% in the 1st quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock valued at $42,000 after purchasing an additional 108 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Paylocity by 121.0% in the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after purchasing an additional 167 shares in the last quarter. Finally, RiverPark Advisors LLC lifted its position in shares of Paylocity by 152.0% during the 1st quarter. RiverPark Advisors LLC now owns 383 shares of the software maker’s stock worth $66,000 after purchasing an additional 231 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Paylocity Stock Up 0.8 %

NASDAQ:PCTY opened at $175.13 on Tuesday. The company has a market cap of $9.76 billion, a P/E ratio of 48.11, a P/E/G ratio of 4.20 and a beta of 0.95. The firm’s 50 day moving average is $162.93 and its two-hundred day moving average is $154.44. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $184.77.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, August 1st. The software maker reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.19. The company had revenue of $357.30 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 earnings per share. Research analysts forecast that Paylocity Holding Co. will post 4.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Paylocity

In other news, SVP Rachit Lohani sold 658 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total transaction of $107,142.14. Following the transaction, the senior vice president now directly owns 39,764 shares of the company’s stock, valued at approximately $6,474,772.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.91% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on PCTY. BTIG Research cut their price target on Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Truist Financial decreased their target price on shares of Paylocity from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Piper Sandler dropped their price objective on shares of Paylocity from $194.00 to $172.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. KeyCorp boosted their target price on Paylocity from $182.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Mizuho increased their price target on shares of Paylocity from $155.00 to $175.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $184.71.

Paylocity Profile

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.