Charles Schwab Investment Management Inc. Buys 3,130 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Charles Schwab Investment Management Inc. lifted its position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 285,556 shares of the software maker's stock after acquiring an additional 3,130 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.51% of Paylocity worth $56,960,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PCTY. Crossmark Global Holdings Inc. boosted its holdings in shares of Paylocity by 14.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,367 shares of the software maker's stock valued at $556,000 after acquiring an additional 428 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in Paylocity by 45.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 544 shares of the software maker's stock worth $90,000 after buying an additional 169 shares during the period. WCM Investment Management LLC lifted its holdings in Paylocity by 32.6% during the 3rd quarter. WCM Investment Management LLC now owns 5,313 shares of the software maker's stock worth $857,000 after buying an additional 1,306 shares during the period. Victory Capital Management Inc. lifted its holdings in Paylocity by 297.6% during the 3rd quarter. Victory Capital Management Inc. now owns 119,560 shares of the software maker's stock worth $19,724,000 after buying an additional 89,487 shares during the period. Finally, Zions Bancorporation N.A. lifted its holdings in Paylocity by 17.4% during the 3rd quarter. Zions Bancorporation N.A. now owns 10,025 shares of the software maker's stock worth $1,654,000 after buying an additional 1,487 shares during the period. Institutional investors and hedge funds own 94.76% of the company's stock.

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Wall Street Analysts Forecast Growth

Several brokerages have commented on PCTY. Raymond James reaffirmed an "outperform" rating and set a $265.00 target price (up from $215.00) on shares of Paylocity in a report on Friday, February 7th. JMP Securities boosted their price objective on Paylocity from $250.00 to $270.00 and gave the company a "market outperform" rating in a research note on Friday, February 7th. UBS Group boosted their price objective on Paylocity from $211.00 to $220.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Jefferies Financial Group boosted their price objective on Paylocity from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Finally, Barclays boosted their price objective 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 issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $233.25.

Paylocity Stock Performance

Shares of NASDAQ PCTY traded up $3.03 during midday trading on Friday, reaching $186.24. The company's stock had a trading volume of 348,422 shares, compared to its average volume of 487,643. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80. The firm has a 50 day moving average price of $201.95 and a 200-day moving average price of $190.22. The stock has a market capitalization of $10.41 billion, a P/E ratio of 47.75, a PEG ratio of 4.49 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings data 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 net margin of 14.76% and a return on equity of 22.45%. As a group, equities analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Steven I. Sarowitz sold 2,600 shares of the company'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 transaction, the director now owns 8,332,347 shares of the company's stock, valued at approximately $1,667,635,928.58. This represents a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 18,566 shares of company stock worth $3,755,321 over the last 90 days. Corporate 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.