LPL Financial LLC Raises Stake in Paylocity Holding Co. (NASDAQ:PCTY)

LPL Financial LLC raised its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 22.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,107 shares of the software maker's stock after acquiring an additional 3,515 shares during the quarter. LPL Financial LLC's holdings in Paylocity were worth $3,780,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new position in Paylocity in the fourth quarter worth $1,795,000. Sei Investments Co. lifted its position in shares of Paylocity by 9.9% during the fourth quarter. Sei Investments Co. now owns 189,565 shares of the software maker's stock worth $37,814,000 after purchasing an additional 17,076 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Paylocity by 190.0% in the 4th quarter. American Century Companies Inc. now owns 349,797 shares of the software maker's stock valued at $69,774,000 after buying an additional 229,179 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Paylocity by 0.5% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker's stock worth $1,916,000 after acquiring an additional 49 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in shares of Paylocity by 44.6% during the fourth quarter. Teacher Retirement System of Texas now owns 14,678 shares of the software maker's stock valued at $2,928,000 after acquiring an additional 4,525 shares during the period. Institutional investors and hedge funds own 94.76% of the company's stock.

Insider Transactions at Paylocity

In other news, Director Steven I. Sarowitz sold 26,252 shares of the company's stock in a transaction 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 owns 420,000 shares in the company, valued at $81,862,200. This represents a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 21.91% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PCTY shares. Mizuho dropped their price objective on Paylocity from $245.00 to $220.00 and set an "outperform" rating for the company in a report on Tuesday. Raymond James restated an "outperform" rating and set a $265.00 price objective (up from $215.00) on shares of Paylocity in a report on Friday, February 7th. Barclays lifted their price target on Paylocity from $214.00 to $231.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Needham & Company LLC raised their price target on shares of Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Finally, TD Cowen reduced their target price on shares of Paylocity from $235.00 to $228.00 and set a "buy" rating for the company in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Paylocity presently has a consensus rating of "Moderate Buy" and an average price target of $229.82.

Paylocity Trading Down 1.3 %

PCTY traded down $2.43 during midday trading on Wednesday, hitting $184.32. 43,408 shares of the company were exchanged, compared to its average volume of 479,429. The firm has a market capitalization of $10.30 billion, a P/E ratio of 47.25, a P/E/G ratio of 4.49 and a beta of 0.76. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80. The firm's 50 day moving average price is $195.20 and its 200-day moving average price is $194.43. 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 issued its 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 net margin of 14.76% and a return on equity of 22.45%. As a group, equities analysts forecast that Paylocity Holding Co. will post 4.36 EPS 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.