Raymond James Financial Inc. Buys Shares of 34,182 Paylocity Holding Co. (NASDAQ:PCTY)

Raymond James Financial Inc. acquired a new stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,182 shares of the software maker's stock, valued at approximately $6,818,000. Raymond James Financial Inc. owned approximately 0.06% of Paylocity as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in Paylocity by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker's stock valued at $173,053,000 after purchasing an additional 36,590 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Paylocity by 81.9% during the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker's stock valued at $141,303,000 after buying an additional 385,625 shares during the period. Janus Henderson Group PLC boosted its position in Paylocity by 3.5% during the third quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker's stock worth $85,444,000 after acquiring an additional 17,560 shares during the last quarter. GW&K Investment Management LLC boosted its holdings in shares of Paylocity by 0.6% during the fourth quarter. GW&K Investment Management LLC now owns 381,010 shares of the software maker's stock worth $76,000,000 after purchasing an additional 2,193 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in Paylocity by 283.8% during the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker's stock worth $51,101,000 after buying an additional 229,057 shares during the period. Institutional investors and hedge funds own 94.76% of the company's stock.

Remove Ads

Paylocity Stock Down 1.5 %

Shares of NASDAQ PCTY traded down $2.99 during mid-day trading on Thursday, reaching $191.13. The company had a trading volume of 411,099 shares, compared to its average volume of 465,376. 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 company has a market capitalization of $10.68 billion, a price-to-earnings ratio of 49.01, a PEG ratio of 4.49 and a beta of 0.94. The stock has a fifty day moving average of $201.57 and a two-hundred day moving average of $192.05. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Needham & Company LLC raised their target price on shares of Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. StockNews.com lowered Paylocity from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. JMP Securities boosted their price target on Paylocity from $250.00 to $270.00 and gave the company a "market outperform" rating in a research report on Friday, February 7th. UBS Group boosted their target price on Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Finally, Barclays raised their price target on shares of Paylocity from $214.00 to $231.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $233.25.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 2,600 shares of the 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 completion of the sale, the director now directly owns 8,332,347 shares of the company's stock, valued at $1,667,635,928.58. This represents a 0.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 52,095 shares of company stock valued at $10,076,554 in the last quarter. Insiders own 21.91% of the company's stock.

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.