Alpha DNA Investment Management LLC Acquires New Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Alpha DNA Investment Management LLC bought a new position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 2,094 shares of the software maker's stock, valued at approximately $418,000.

Other large investors also recently bought and sold shares of the company. Certuity LLC purchased a new stake in shares of Paylocity during the fourth quarter valued at $232,000. Barclays PLC increased its holdings in shares of Paylocity by 14.3% in the third 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 raised its stake in shares of Paylocity by 5,742.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker's stock worth $1,165,000 after purchasing an additional 5,742 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Paylocity during the fourth quarter worth about $29,000. Finally, Park Avenue Securities LLC boosted its position in Paylocity by 63.3% in the fourth quarter. Park Avenue Securities LLC now owns 5,590 shares of the software maker's stock valued at $1,115,000 after buying an additional 2,167 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

Paylocity Price Performance

Shares of NASDAQ:PCTY traded up $4.42 during midday trading on Thursday, hitting $188.75. The company's stock had a trading volume of 195,867 shares, compared to its average volume of 448,550. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80. The company has a market cap of $10.55 billion, a P/E ratio of 48.37, a price-to-earnings-growth ratio of 4.49 and a beta of 0.76. 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 business's 50 day simple moving average is $191.66 and its 200 day simple moving average is $194.93.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 EPS 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, analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PCTY shares. Raymond James reiterated an "outperform" rating and issued a $265.00 price objective (up previously from $215.00) on shares of Paylocity in a research note on Friday, February 7th. Mizuho decreased their price objective on Paylocity from $245.00 to $220.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Needham & Company LLC raised their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. StockNews.com downgraded shares of Paylocity from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Jefferies Financial Group upped their price target on Paylocity from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $226.47.

Insider Buying and Selling at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the completion of the transaction, the director now owns 420,000 shares of the company's stock, valued at $81,862,200. This trade represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 21.91% of the company's stock.

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.