Burns Matteson Capital Management LLC Makes New $421,000 Investment in Paylocity Holding Co. (NASDAQ:PCTY)

Burns Matteson Capital Management LLC acquired a new position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,109 shares of the software maker's stock, valued at approximately $421,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. CIBC Asset Management Inc lifted its holdings in Paylocity by 3.6% in the third quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker's stock worth $273,000 after buying an additional 58 shares during the period. UMB Bank n.a. lifted its holdings in Paylocity by 41.1% in the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock worth $49,000 after buying an additional 72 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in shares of Paylocity by 3.7% during the third quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker's stock valued at $395,000 after purchasing an additional 82 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Paylocity by 6.4% during the third quarter. Covestor Ltd now owns 1,373 shares of the software maker's stock valued at $227,000 after purchasing an additional 83 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Paylocity by 43.3% during the fourth quarter. GAMMA Investing LLC now owns 384 shares of the software maker's stock valued at $77,000 after purchasing an additional 116 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Transactions at Paylocity

In other news, Director Steven I. Sarowitz sold 15,444 shares of the company's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $195.43, for a total value of $3,018,220.92. Following the completion of the sale, the director now directly owns 9,272,906 shares in the company, valued at $1,812,204,019.58. This represents a 0.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey T. Diehl sold 946 shares of the company's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $204.74, for a total value of $193,684.04. Following the completion of the sale, the director now owns 1,767 shares of the company's stock, valued at $361,775.58. This trade represents a 34.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,380 shares of company stock worth $25,830,669 in the last three months. Corporate insiders own 21.91% of the company's stock.

Paylocity Stock Performance

NASDAQ:PCTY traded up $3.46 during trading hours on Thursday, reaching $217.56. The company had a trading volume of 360,960 shares, compared to its average volume of 521,771. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80. The firm has a market cap of $12.13 billion, a price-to-earnings ratio of 55.78, a PEG ratio of 5.19 and a beta of 0.95. The firm's 50 day moving average price is $201.45 and its 200-day moving average price is $182.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.93% and a net margin of 14.76%. On average, analysts forecast that Paylocity Holding Co. will post 4.46 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. KeyCorp lifted their target price on shares of Paylocity from $220.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, February 7th. BMO Capital Markets lifted their target price on shares of Paylocity from $175.00 to $203.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Barclays lifted their target price 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. Needham & Company LLC lifted their target price on shares of Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a report on Friday, February 7th. Finally, TD Cowen lowered their target price on shares of Paylocity from $235.00 to $228.00 and set a "buy" rating for the company in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Paylocity currently has an average rating of "Moderate Buy" and a consensus price target of $233.25.

Paylocity Company 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.