Arrowstreet Capital Limited Partnership grew its stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 128.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,501 shares of the software maker's stock after purchasing an additional 42,451 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.14% of Paylocity worth $15,060,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of PCTY. SBI Securities Co. Ltd. purchased a new stake in Paylocity during the 4th quarter valued at $29,000. UMB Bank n.a. raised its stake in shares of Paylocity by 41.1% in the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock valued at $49,000 after acquiring an additional 72 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Paylocity by 489.1% in 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 last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Paylocity by 29.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock worth $55,000 after purchasing an additional 63 shares during the period. Finally, Quarry LP grew its holdings in Paylocity by 149.2% during 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 during the last quarter. 94.76% of the stock is owned by institutional investors.
Paylocity Stock Up 8.8 %
Paylocity stock traded up $15.20 during mid-day trading on Wednesday, reaching $187.74. 492,516 shares of the company were exchanged, compared to its average volume of 480,014. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80. The business has a fifty day moving average of $197.06 and a 200 day moving average of $193.78. The firm has a market cap of $10.49 billion, a P/E ratio of 48.14, a PEG 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.
Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings data 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%. Research analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several brokerages have issued reports on PCTY. UBS Group raised their price objective on shares of Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Needham & Company LLC boosted their price objective on Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a report on Friday, February 7th. Citigroup upgraded Paylocity from a "neutral" rating to a "buy" rating and increased their target price for the stock from $214.00 to $231.00 in a research note on Thursday, January 16th. Stifel Nicolaus boosted their target price on shares of Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Finally, 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 research note on Friday, February 7th. Three equities research 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 $233.25.
Read Our Latest Stock Analysis on Paylocity
Insider Transactions at Paylocity
In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.91, for a total value of $5,116,777.32. Following the completion of the sale, the director now directly owns 420,000 shares in the company, valued at $81,862,200. This trade represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 21.91% of the company's stock.
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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