American Century Companies Inc. lifted its stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 190.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 349,797 shares of the software maker's stock after purchasing an additional 229,179 shares during the quarter. American Century Companies Inc. owned 0.63% of Paylocity worth $69,774,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of PCTY. SBI Securities Co. Ltd. acquired a new stake in Paylocity during the 4th quarter valued at $29,000. UMB Bank n.a. raised its position in Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock valued at $49,000 after buying an additional 72 shares during the period. Quarry LP lifted its stake in Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker's stock worth $51,000 after acquiring an additional 185 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Paylocity by 489.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock worth $54,000 after acquiring an additional 225 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its stake in Paylocity by 29.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock valued at $55,000 after acquiring an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.
Insiders Place Their Bets
In other Paylocity news, Director Steven I. Sarowitz sold 2,600 shares of the firm'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 in the company, valued at $1,667,635,928.58. This trade represents a 0.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 52,095 shares of company stock valued at $10,076,554 in the last three months. Company insiders own 21.91% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently commented on PCTY shares. JMP Securities raised their price target on shares of Paylocity from $250.00 to $270.00 and gave the stock a "market outperform" rating in a report on Friday, February 7th. Jefferies Financial Group increased their target price on shares of Paylocity from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Raymond James restated an "outperform" rating and set a $265.00 price target (up from $215.00) on shares of Paylocity in a report on Friday, February 7th. Citigroup upgraded Paylocity from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $214.00 to $231.00 in a report on Thursday, January 16th. Finally, Barclays boosted their target price on Paylocity from $214.00 to $231.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $233.25.
Read Our Latest Analysis on PCTY
Paylocity Stock Performance
Shares of NASDAQ PCTY traded down $4.80 during trading hours on Friday, hitting $186.33. 318,935 shares of the stock were exchanged, compared to its average volume of 476,165. The firm has a market capitalization of $10.41 billion, a P/E ratio of 47.78, 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 company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. The company's 50 day moving average is $201.20 and its 200 day moving average is $192.49.
Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) 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%. On average, research analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current year.
Paylocity Company Profile
(
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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