Invesco Ltd. Buys 320,319 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Invesco Ltd. lifted its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 31.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,332,213 shares of the software maker's stock after buying an additional 320,319 shares during the period. Invesco Ltd. owned approximately 2.39% of Paylocity worth $265,737,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Paylocity by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker's stock worth $803,745,000 after purchasing an additional 46,183 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Paylocity by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 1,073,988 shares of the software maker's stock valued at $214,275,000 after buying an additional 25,182 shares during the period. JPMorgan Chase & Co. boosted its stake in Paylocity by 0.8% during the fourth quarter. JPMorgan Chase & Co. now owns 863,787 shares of the software maker's stock valued at $172,300,000 after buying an additional 7,251 shares in the last quarter. FMR LLC grew its holdings in Paylocity by 138.5% during the fourth quarter. FMR LLC now owns 650,599 shares of the software maker's stock worth $129,775,000 after acquiring an additional 377,835 shares during the period. Finally, GW&K Investment Management LLC raised its position in Paylocity by 0.6% in the fourth quarter. GW&K Investment Management LLC now owns 381,010 shares of the software maker's stock worth $76,000,000 after acquiring an additional 2,193 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PCTY has been the subject of several research reports. Raymond James restated an "outperform" rating and set a $265.00 price objective (up previously from $215.00) on shares of Paylocity in a research report on Friday, February 7th. StockNews.com cut shares of Paylocity from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Jefferies Financial Group lifted their price target on shares of Paylocity from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. KeyCorp increased their price objective on Paylocity from $220.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Finally, UBS Group lifted their target price on Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Four equities 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, the company has a consensus rating of "Moderate Buy" and an average price target of $229.82.

Paylocity Stock Down 0.6 %

PCTY traded down $1.11 on Wednesday, reaching $185.65. 97,967 shares of the company traded hands, compared to its average volume of 479,654. The company has a market cap of $10.38 billion, a price-to-earnings ratio of 47.60, a PEG ratio of 4.49 and a beta of 0.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. The stock's 50 day moving average price is $195.20 and its 200-day moving average price is $194.43. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced 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 expect that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Insider Activity at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of Paylocity stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.91, for a total value of $5,116,777.32. Following the completion of the sale, the director now directly owns 420,000 shares in the company, valued at $81,862,200. The trade was a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 21.91% of the stock is currently owned by company insiders.

Paylocity Company 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.