Granite Investment Partners LLC acquired a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 18,287 shares of the software maker's stock, valued at approximately $3,648,000.
Several other large investors also recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new position in Paylocity in the 4th quarter valued at about $29,000. UMB Bank n.a. lifted its holdings in Paylocity by 41.1% during the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock worth $49,000 after purchasing an additional 72 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Paylocity by 489.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock valued at $54,000 after buying an additional 225 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in Paylocity by 29.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock worth $55,000 after buying an additional 63 shares during the period. Finally, GAMMA Investing LLC lifted 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 worth $77,000 after buying an additional 116 shares in the last quarter. 94.76% of the stock is owned by institutional investors.
Insider Activity at Paylocity
In related news, Director Steven I. Sarowitz sold 23,243 shares of Paylocity stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $191.00, for a total value of $4,439,413.00. Following the completion of the transaction, the director now directly owns 470,452 shares in the company, valued at approximately $89,856,332. The trade was a 4.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.91% of the stock is currently owned by company insiders.
Paylocity Stock Performance
PCTY stock traded up $0.23 during midday trading on Friday, hitting $183.98. The company's stock had a trading volume of 260,735 shares, compared to its average volume of 480,927. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 47.17, a PEG ratio of 4.49 and a beta of 0.76. The stock's 50-day moving average price is $194.20 and its 200 day moving average price is $194.49. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28.
Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings results 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 return on equity of 22.45% and a net margin of 14.76%. On average, equities analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current year.
Analysts Set New Price Targets
PCTY has been the topic of a number of analyst reports. Barclays raised their target price on shares of Paylocity from $214.00 to $231.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. Jefferies Financial Group lifted their price target on Paylocity from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Citigroup raised shares of Paylocity from a "neutral" rating to a "buy" rating and lifted their price target for the company from $214.00 to $231.00 in a report on Thursday, January 16th. 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. Finally, Raymond James reaffirmed an "outperform" rating and issued a $265.00 target price (up from $215.00) on shares of Paylocity in a research report on Friday, February 7th. Four 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.com, the company currently has an average rating of "Moderate Buy" and an average price target of $229.82.
Get Our Latest Research Report on Paylocity
Paylocity Company Profile
(
Free Report)
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.
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