QRG Capital Management Inc. Makes New Investment in Paylocity Holding Co. (NASDAQ:PCTY)

QRG Capital Management Inc. acquired a new stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,405 shares of the software maker's stock, valued at approximately $280,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Prospera Private Wealth LLC acquired a new position in Paylocity during the 3rd quarter worth approximately $39,000. UMB Bank n.a. raised its position in shares of Paylocity by 41.1% in 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. Quarry LP raised its position in shares of Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker's stock valued at $51,000 after purchasing an additional 185 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Paylocity by 43.3% in the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker's stock valued at $77,000 after acquiring an additional 116 shares during the last quarter. Finally, Tompkins Financial Corp bought a new stake in shares of Paylocity in the 3rd quarter valued at approximately $82,000. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Steven I. Sarowitz sold 13,689 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $203.29, for a total transaction of $2,782,836.81. Following the completion of the sale, the director now owns 8,385,954 shares in the company, valued at $1,704,780,588.66. This represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have sold 54,654 shares of company stock valued at $11,067,608. Insiders own 21.91% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PCTY. StockNews.com downgraded Paylocity from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Jefferies Financial Group upped their price objective on Paylocity from $240.00 to $255.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Citigroup upgraded Paylocity from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $214.00 to $231.00 in a research note on Thursday, January 16th. Barclays upped their price objective on Paylocity from $214.00 to $231.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. Finally, UBS Group upped their price objective on Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, Paylocity presently has a consensus rating of "Moderate Buy" and a consensus price target of $233.25.

Paylocity Stock Up 2.2 %

NASDAQ:PCTY traded up $4.29 during trading hours on Friday, hitting $195.11. 369,910 shares of the company's stock traded hands, compared to its average volume of 490,603. The firm has a market cap of $10.90 billion, a P/E ratio of 50.03, a P/E/G ratio of 4.49 and a beta of 0.94. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. The stock's fifty day moving average price is $203.18 and its two-hundred day moving average price is $189.21.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its 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 return on equity of 22.45% and a net margin of 14.76%. On average, research analysts expect that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Paylocity Company 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.