Fisher Asset Management LLC Acquires 19,040 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Fisher Asset Management LLC grew its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 25.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 95,200 shares of the software maker's stock after purchasing an additional 19,040 shares during the quarter. Fisher Asset Management LLC owned about 0.17% of Paylocity worth $18,990,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PCTY. Creative Planning acquired a new stake in Paylocity in the 3rd quarter valued at about $267,000. International Assets Investment Management LLC lifted its position in shares of Paylocity by 16,397.9% in the third quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker's stock valued at $1,279,000 after buying an additional 7,707 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Paylocity by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 5,046 shares of the software maker's stock worth $832,000 after acquiring an additional 340 shares during the period. Chicago Partners Investment Group LLC increased its holdings in shares of Paylocity by 3.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker's stock worth $395,000 after acquiring an additional 82 shares during the last quarter. Finally, Tompkins Financial Corp bought a new stake in Paylocity in the 3rd quarter valued at $82,000. Institutional investors and hedge funds own 94.76% of the company's stock.

Wall Street Analyst Weigh In

PCTY has been the subject of a number of research analyst reports. Needham & Company LLC lifted their price objective 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 decreased their price target on shares of Paylocity from $235.00 to $228.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. UBS Group raised their price objective on shares of Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Barclays upped their target price on Paylocity from $214.00 to $231.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. Finally, Mizuho raised Paylocity from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $200.00 to $235.00 in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $233.25.

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Paylocity Price Performance

Paylocity stock traded up $4.29 during trading hours on Friday, reaching $195.11. 369,910 shares of the stock were exchanged, compared to its average volume of 490,602. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80. The company has a market cap of $10.90 billion, a P/E ratio of 50.03, a price-to-earnings-growth ratio of 4.49 and a beta of 0.95. The stock has a 50 day moving average of $203.28 and a two-hundred day moving average of $188.66.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly 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%. Equities analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Steven I. Sarowitz sold 1,400 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $200.59, for a total value of $280,826.00. Following the completion of the transaction, the director now owns 8,338,430 shares of the company's stock, valued at $1,672,605,673.70. This represents a 0.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 54,654 shares of company stock worth $11,067,608 in the last ninety days. 21.91% of the stock is owned by insiders.

Paylocity 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.