ExodusPoint Capital Management LP Purchases 13,280 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

ExodusPoint Capital Management LP lifted its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 470.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,101 shares of the software maker's stock after acquiring an additional 13,280 shares during the period. ExodusPoint Capital Management LP's holdings in Paylocity were worth $3,212,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of Paylocity by 81.9% in the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker's stock valued at $141,303,000 after purchasing an additional 385,625 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Paylocity by 190.0% in the fourth quarter. American Century Companies Inc. now owns 349,797 shares of the software maker's stock valued at $69,774,000 after buying an additional 229,179 shares in the last quarter. Trillium Asset Management LLC increased its holdings in Paylocity by 194.7% during the fourth quarter. Trillium Asset Management LLC now owns 99,706 shares of the software maker's stock worth $19,888,000 after buying an additional 65,869 shares during the last quarter. Norges Bank acquired a new position in shares of Paylocity during the 4th quarter worth about $12,131,000. Finally, Vanguard Group Inc. increased its position in Paylocity by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker's stock worth $803,745,000 after buying an additional 46,183 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Paylocity Price Performance

PCTY stock traded up $3.49 during midday trading on Friday, reaching $187.27. 327,946 shares of the stock were exchanged, compared to its average volume of 479,811. The company has a fifty day moving average price of $196.14 and a 200 day moving average price of $194.08. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week 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 stock has a market capitalization of $10.47 billion, a PE ratio of 48.02, a P/E/G ratio of 4.49 and a beta of 0.76.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. As a group, analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PCTY has been the topic of a number of research analyst reports. Raymond James restated an "outperform" rating and issued a $265.00 price target (up previously from $215.00) on shares of Paylocity in a research note on Friday, February 7th. Citigroup raised Paylocity from a "neutral" rating to a "buy" rating and upped their price objective for the company from $214.00 to $231.00 in a report on Thursday, January 16th. Stifel Nicolaus raised their price target on shares of Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. TD Cowen cut their price target on Paylocity from $235.00 to $228.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, UBS Group raised their price objective on Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $233.25.

Insider Transactions at Paylocity

In related news, Director Steven I. Sarowitz sold 26,252 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the completion of the sale, the director now owns 420,000 shares of the company's stock, valued at $81,862,200. This trade represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 21.91% of the stock is currently owned by corporate insiders.

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.