Proficio Capital Partners LLC purchased a new stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,367 shares of the software maker's stock, valued at approximately $2,467,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Certuity LLC purchased a new stake in Paylocity in the 4th quarter valued at $232,000. Edgestream Partners L.P. raised its position in Paylocity by 222.3% in the 3rd quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker's stock valued at $1,788,000 after buying an additional 7,475 shares during the last quarter. Barclays PLC grew its stake in Paylocity by 14.3% in the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker's stock valued at $7,407,000 after purchasing an additional 5,609 shares during the period. Nisa Investment Advisors LLC grew its stake in Paylocity by 5,742.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker's stock valued at $1,165,000 after purchasing an additional 5,742 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Paylocity by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker's stock valued at $46,592,000 after purchasing an additional 4,697 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on PCTY. Piper Sandler reiterated an "overweight" rating and set a $254.00 price target (up previously from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. JMP Securities increased their price target on Paylocity from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research note on Friday, February 7th. UBS Group increased their price target on Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. TD Cowen cut their target price on Paylocity from $235.00 to $228.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, StockNews.com downgraded Paylocity from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $233.25.
View Our Latest Analysis on PCTY
Paylocity Trading Up 0.6 %
Shares of PCTY stock traded up $1.16 during trading hours on Friday, reaching $191.91. The company's stock had a trading volume of 570,223 shares, compared to its average volume of 466,931. The stock has a market capitalization of $10.73 billion, a P/E ratio of 49.21, a P/E/G ratio of 4.49 and a beta of 0.94. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $223.80. The firm's fifty day simple moving average is $201.44 and its 200 day simple moving average is $191.04. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28.
Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share 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%. Equities research analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current year.
Insider Activity at Paylocity
In related news, Director Steven I. Sarowitz sold 3,083 shares of the company's stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $200.73, for a total transaction of $618,850.59. Following the completion of the sale, the director now owns 8,335,347 shares in the company, valued at approximately $1,673,154,203.31. This represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 7,083 shares of company stock worth $1,420,041. 21.91% of the stock is owned by insiders.
About Paylocity
(
Free Report)
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.
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