Commerce Bank Acquires 13,441 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Commerce Bank grew its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 614.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,629 shares of the software maker's stock after purchasing an additional 13,441 shares during the period. Commerce Bank's holdings in Paylocity were worth $3,118,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in shares of Paylocity in the 4th quarter valued at $29,000. UMB Bank n.a. lifted its stake 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 in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Paylocity by 489.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock worth $54,000 after buying an additional 225 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock worth $55,000 after acquiring an additional 63 shares in the last quarter. Finally, GAMMA Investing LLC raised 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 acquiring an additional 116 shares during the period. Institutional investors and hedge funds own 94.76% of the company's stock.

Paylocity Stock Up 1.4 %

NASDAQ:PCTY traded up $2.60 during trading hours on Friday, reaching $191.11. The company's stock had a trading volume of 342,888 shares, compared to its average volume of 449,223. 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 price-to-earnings ratio of 49.00, a price-to-earnings-growth ratio of 4.49 and a beta of 0.76. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $223.80. The business's 50-day moving average is $191.10 and its 200-day moving average is $195.08.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings data 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 net margin of 14.76% and a return on equity of 22.45%. Equities research analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on PCTY shares. Needham & Company LLC raised their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Raymond James reiterated an "outperform" rating and set a $265.00 price target (up previously from $215.00) on shares of Paylocity in a report on Friday, February 7th. Barclays dropped their price target on Paylocity from $231.00 to $204.00 and set an "equal weight" rating on the stock in a research report on Monday. JMP Securities raised their price objective on Paylocity from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research report on Friday, February 7th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $254.00 target price (up previously from $212.00) on shares of Paylocity in a report on Thursday, February 6th. Four 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, the company has an average rating of "Moderate Buy" and a consensus target price of $226.47.

Insider Activity

In related news, Director Steven I. Sarowitz sold 26,252 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 420,000 shares in the company, valued at approximately $81,862,200. This trade represents a 5.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 21.91% of the company's stock.

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.