Geode Capital Management LLC Purchases 25,182 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Geode Capital Management LLC lifted its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,073,988 shares of the software maker's stock after acquiring an additional 25,182 shares during the quarter. Geode Capital Management LLC owned about 1.93% of Paylocity worth $214,275,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its position in Paylocity by 19.3% in the third quarter. FMR LLC now owns 272,764 shares of the software maker's stock worth $44,998,000 after acquiring an additional 44,118 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Paylocity by 25.6% in the 3rd quarter. HighTower Advisors LLC now owns 4,592 shares of the software maker's stock worth $751,000 after purchasing an additional 936 shares during the last quarter. Quarry LP grew its stake in shares of Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker's stock worth $51,000 after purchasing an additional 185 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of Paylocity by 62.2% in the 3rd quarter. Quantinno Capital Management LP now owns 29,557 shares of the software maker's stock worth $4,876,000 after purchasing an additional 11,340 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in Paylocity by 0.6% during the third quarter. Stifel Financial Corp now owns 23,412 shares of the software maker's stock valued at $3,862,000 after purchasing an additional 133 shares during the last quarter. Institutional investors own 94.76% of the company's stock.

Insider Buying and Selling at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the firm's stock in a transaction dated 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 transaction, the director now directly owns 420,000 shares in the company, valued at $81,862,200. This trade represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 21.91% of the company's stock.

Paylocity Stock Up 1.9 %

Shares of NASDAQ:PCTY traded up $3.49 during trading on Friday, reaching $187.27. 327,946 shares of the company traded hands, compared to its average volume of 479,811. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. The firm has a market cap of $10.47 billion, a P/E ratio of 48.02, a price-to-earnings-growth ratio of 4.49 and a beta of 0.76. The firm has a fifty day simple moving average of $196.14 and a 200 day simple moving average of $194.08.

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 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%. Analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on PCTY. JMP Securities lifted their price target on shares of Paylocity from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research report on Friday, February 7th. KeyCorp lifted their target price on Paylocity from $220.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Needham & Company LLC upped their target price on Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a report on Friday, February 7th. Mizuho upgraded Paylocity from a "neutral" rating to an "outperform" rating and increased their price target for the company from $200.00 to $235.00 in a research report on Friday, January 31st. Finally, StockNews.com downgraded Paylocity from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $233.25.

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.