Inceptionr LLC Buys Shares of 1,451 Paylocity Holding Co. (NASDAQ:PCTY)

Inceptionr LLC acquired a new stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,451 shares of the software maker's stock, valued at approximately $289,000.

Other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in Paylocity during the fourth quarter valued at approximately $29,000. Prospera Private Wealth LLC acquired a new stake in shares of Paylocity in the 3rd quarter worth $39,000. UMB Bank n.a. grew its stake 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 buying an additional 72 shares during 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 valued at $55,000 after buying an additional 63 shares in the last quarter. Finally, Quarry LP raised its stake in Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker's stock valued at $51,000 after buying an additional 185 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 10,621 shares of the business's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $200.86, for a total transaction of $2,133,334.06. Following the transaction, the director now owns 8,365,533 shares of the company's stock, valued at approximately $1,680,300,958.38. The trade was a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 29,187 shares of company stock valued at $5,888,655 in the last 90 days. 21.91% of the stock is owned by insiders.

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Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PCTY. Stifel Nicolaus upped their price objective on shares of Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a report on Friday, February 7th. JMP Securities raised their price objective on Paylocity from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research note on Friday, February 7th. StockNews.com lowered Paylocity from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. KeyCorp raised their price target on shares of Paylocity from $220.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $254.00 price objective (up from $212.00) on shares of Paylocity in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Paylocity currently has a consensus rating of "Moderate Buy" and a consensus target price of $233.25.

Paylocity Price Performance

NASDAQ:PCTY traded down $3.32 during trading hours on Thursday, reaching $183.21. 299,147 shares of the company were exchanged, compared to its average volume of 489,141. The firm has a market cap of $10.24 billion, a PE ratio of 46.98, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. The stock's 50-day moving average is $202.45 and its 200-day moving average is $189.90. 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.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings data 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%. On average, sell-side analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

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.