GW&K Investment Management LLC Buys 2,193 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

GW&K Investment Management LLC grew its stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 381,010 shares of the software maker's stock after buying an additional 2,193 shares during the period. GW&K Investment Management LLC owned 0.68% of Paylocity worth $76,000,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PCTY. QRG Capital Management Inc. acquired a new stake in Paylocity during the 4th quarter valued at approximately $280,000. Proficio Capital Partners LLC bought a new stake in shares of Paylocity in the 4th quarter valued at $2,467,000. Oregon Public Employees Retirement Fund increased its position in shares of Paylocity by 1.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 8,889 shares of the software maker's stock worth $1,773,000 after buying an additional 100 shares during the period. Union Bancaire Privee UBP SA bought a new position in Paylocity during the fourth quarter worth $2,689,000. Finally, ING Groep NV acquired a new position in Paylocity in the fourth quarter valued at $2,274,000. 94.76% of the stock is currently owned by institutional investors.

Paylocity Stock Performance

Shares of NASDAQ:PCTY traded down $5.87 during mid-day trading on Tuesday, reaching $199.08. The company had a trading volume of 433,228 shares, compared to its average volume of 494,825. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $223.80. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. The company's 50-day moving average price is $203.50 and its 200-day moving average price is $188.23. The firm has a market cap of $11.13 billion, a price-to-earnings ratio of 51.05, a PEG ratio of 4.49 and a beta of 0.95.

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Paylocity (NASDAQ:PCTY - Get Free Report) last issued 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 net margin of 14.76% and a return on equity of 22.45%. As a group, equities research analysts anticipate that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Insider Buying and Selling at Paylocity

In other news, Director Steven I. Sarowitz sold 13,689 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $203.29, for a total value of $2,782,836.81. Following the sale, the director now owns 8,385,954 shares of the company's stock, valued at $1,704,780,588.66. The trade was a 0.16 % 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. Insiders have sold a total of 63,849 shares of company stock valued at $12,982,226 over the last three months. 21.91% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PCTY. JMP Securities increased their price target on Paylocity from $250.00 to $270.00 and gave the stock a "market outperform" rating in a report on Friday, February 7th. KeyCorp raised their target price on Paylocity from $220.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Piper Sandler reissued an "overweight" rating and issued a $254.00 price target (up from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. Mizuho raised shares of Paylocity from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $200.00 to $235.00 in a research report on Friday, January 31st. Finally, Jefferies Financial Group lifted their price objective on shares of Paylocity from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target 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.