Alberta Investment Management Corp Takes $3.06 Million Position in Paylocity Holding Co. (NASDAQ:PCTY)

Alberta Investment Management Corp acquired a new position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 15,323 shares of the software maker's stock, valued at approximately $3,056,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. CIBC Asset Management Inc raised its stake in Paylocity by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker's stock worth $273,000 after purchasing an additional 58 shares in the last quarter. UMB Bank n.a. raised its stake in Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock worth $49,000 after purchasing an additional 72 shares in the last quarter. Chicago Partners Investment Group LLC raised its stake in Paylocity by 3.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker's stock worth $395,000 after purchasing an additional 82 shares in the last quarter. Covestor Ltd raised its stake in Paylocity by 6.4% in the 3rd quarter. Covestor Ltd now owns 1,373 shares of the software maker's stock worth $227,000 after purchasing an additional 83 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in Paylocity by 0.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the software maker's stock worth $2,414,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

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Paylocity Trading Up 1.1 %

PCTY traded up $2.29 during trading on Monday, reaching $207.11. 459,443 shares of the company's stock were exchanged, compared to its average volume of 506,753. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $223.80. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $11.57 billion, a PE ratio of 53.11, a price-to-earnings-growth ratio of 4.49 and a beta of 0.95. The firm has a fifty day moving average price of $202.91 and a two-hundred day moving average price of $186.43.

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

Insiders Place Their Bets

In other news, Director Steven I. Sarowitz sold 2,600 shares of the company's stock in a transaction on Monday, December 30th. The shares were sold at an average price of $200.14, for a total value of $520,364.00. Following the sale, the director now directly owns 8,332,347 shares of the company's stock, valued at approximately $1,667,635,928.58. This represents a 0.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 82,486 shares of company stock valued at $16,875,663 in the last ninety days. 21.91% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on PCTY shares. Needham & Company LLC boosted their target price on shares of Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Jefferies Financial Group boosted their target price on shares of Paylocity from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Piper Sandler restated an "overweight" rating and issued a $254.00 target price (up from $212.00) on shares of Paylocity in a research report on Thursday, February 6th. StockNews.com cut shares of Paylocity from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Mizuho upgraded shares of Paylocity from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $200.00 to $235.00 in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $233.25.

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.