ING Groep NV Makes New $2.27 Million Investment in Paylocity Holding Co. (NASDAQ:PCTY)

ING Groep NV bought a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 11,400 shares of the software maker's stock, valued at approximately $2,274,000.

Other hedge funds also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new stake in shares of Paylocity during the third quarter worth about $39,000. UMB Bank n.a. increased its stake in Paylocity by 41.1% during the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock valued at $49,000 after purchasing an additional 72 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Paylocity by 121.0% in the third quarter. Signaturefd LLC now owns 305 shares of the software maker's stock worth $50,000 after buying an additional 167 shares during the last quarter. Quarry LP lifted its stake in shares of Paylocity by 149.2% during the third quarter. Quarry LP now owns 309 shares of the software maker's stock worth $51,000 after buying an additional 185 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Paylocity by 43.3% during the fourth quarter. GAMMA Investing LLC now owns 384 shares of the software maker's stock valued at $77,000 after buying an additional 116 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Paylocity Price Performance

Shares of PCTY stock traded up $0.47 during trading hours on Wednesday, hitting $204.66. 312,033 shares of the company's stock were exchanged, compared to its average volume of 498,068. The firm has a 50 day moving average of $202.93 and a two-hundred day moving average of $186.78. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. The firm has a market cap of $11.44 billion, a P/E ratio of 52.48, a P/E/G ratio of 4.49 and a beta of 0.95. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28.

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Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. Sell-side analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on the company. Citigroup raised Paylocity from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $214.00 to $231.00 in a research report on Thursday, January 16th. Piper Sandler reaffirmed an "overweight" rating and set a $254.00 target price (up previously from $212.00) on shares of Paylocity in a report on Thursday, February 6th. Raymond James reiterated an "outperform" rating and issued a $265.00 price target (up previously from $215.00) on shares of Paylocity in a report on Friday, February 7th. StockNews.com cut shares of Paylocity from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Finally, Jefferies Financial Group increased their price objective on shares of Paylocity from $240.00 to $255.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $233.25.

Insider Activity

In other Paylocity news, CFO Ryan Glenn sold 2,600 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $205.40, for a total value of $534,040.00. Following the transaction, the chief financial officer now directly owns 48,150 shares of the company's stock, valued at $9,890,010. This trade represents a 5.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven I. Sarowitz sold 6,900 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $209.02, for a total value of $1,442,238.00. Following the completion of the sale, the director now directly owns 8,933,409 shares of the company's stock, valued at approximately $1,867,261,149.18. This represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,249 shares of company stock worth $14,724,870 over the last quarter. 21.91% of the stock is currently owned by corporate insiders.

About Paylocity

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.