Canada Pension Plan Investment Board raised its position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 272.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 57,700 shares of the software maker's stock after purchasing an additional 42,200 shares during the period. Canada Pension Plan Investment Board owned approximately 0.10% of Paylocity worth $11,509,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of PCTY. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Paylocity by 0.5% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker's stock valued at $1,916,000 after purchasing an additional 49 shares during the period. Bessemer Group Inc. grew its holdings in shares of Paylocity by 0.3% during the fourth quarter. Bessemer Group Inc. now owns 19,118 shares of the software maker's stock worth $3,813,000 after buying an additional 51 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in Paylocity by 29.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock valued at $55,000 after buying an additional 63 shares during the last quarter. UMB Bank n.a. lifted its stake in Paylocity by 41.1% in the 4th 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 in the last quarter. Finally, HighPoint Advisor Group LLC boosted its position in Paylocity by 5.1% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,559 shares of the software maker's stock worth $326,000 after acquiring an additional 75 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have recently commented on PCTY. Piper Sandler reissued an "overweight" rating and issued a $254.00 price objective (up previously from $212.00) on shares of Paylocity in a research report on Thursday, February 6th. KeyCorp cut their price target on shares of Paylocity from $250.00 to $220.00 and set an "overweight" rating on the stock in a research report on Tuesday. TD Cowen lowered their target price on Paylocity from $235.00 to $228.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. JMP Securities increased 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. Finally, UBS Group boosted their price target on Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a research 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 company's stock. According to MarketBeat, Paylocity currently has a consensus rating of "Moderate Buy" and a consensus target price of $226.47.
Read Our Latest Stock Report on Paylocity
Paylocity Stock Performance
NASDAQ PCTY traded up $2.60 on Friday, reaching $191.11. The stock had a trading volume of 342,888 shares, compared to its average volume of 449,223. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-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 has a market cap of $10.68 billion, a P/E ratio of 49.00, a price-to-earnings-growth ratio of 4.49 and a beta of 0.76. The firm has a fifty day moving average of $191.10 and a two-hundred day moving average of $195.08.
Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly 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 22.45% and a net margin of 14.76%. On average, equities research analysts anticipate that Paylocity Holding Co. will post 4.36 EPS for the current year.
Insiders Place Their Bets
In related news, Director Steven I. Sarowitz sold 26,252 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.91, for a total value of $5,116,777.32. Following the transaction, the director now owns 420,000 shares in the company, valued at approximately $81,862,200. This trade represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 21.91% of the company's stock.
Paylocity Profile
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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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