Paylocity Holding Co. (NASDAQ:PCTY) Shares Purchased by MetLife Investment Management LLC

MetLife Investment Management LLC grew its holdings in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,422 shares of the software maker's stock after purchasing an additional 2,017 shares during the period. MetLife Investment Management LLC's holdings in Paylocity were worth $5,270,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in Paylocity by 81.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker's stock worth $141,303,000 after buying an additional 385,625 shares during the period. FMR LLC boosted its holdings in shares of Paylocity by 138.5% in the fourth quarter. FMR LLC now owns 650,599 shares of the software maker's stock valued at $129,775,000 after purchasing an additional 377,835 shares during the period. Invesco Ltd. grew its stake in Paylocity by 31.7% in the fourth quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker's stock worth $265,737,000 after purchasing an additional 320,319 shares in the last quarter. American Century Companies Inc. increased its holdings in Paylocity by 190.0% during the 4th quarter. American Century Companies Inc. now owns 349,797 shares of the software maker's stock worth $69,774,000 after purchasing an additional 229,179 shares during the period. Finally, Trillium Asset Management LLC lifted its holdings in shares of Paylocity by 194.7% in the 4th quarter. Trillium Asset Management LLC now owns 99,706 shares of the software maker's stock worth $19,888,000 after buying an additional 65,869 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Steven I. Sarowitz sold 26,252 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the completion of the sale, the director now directly owns 420,000 shares in the company, valued at approximately $81,862,200. This trade represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 21.91% of the stock is currently owned by corporate insiders.

Paylocity Price Performance

NASDAQ PCTY traded up $2.60 during mid-day trading on Friday, hitting $191.11. The stock had a trading volume of 342,888 shares, compared to its average volume of 480,164. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80. 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 firm's 50 day moving average is $190.56 and its 200 day moving average is $195.28. The stock has a market capitalization of $10.68 billion, a price-to-earnings ratio of 49.00, a PEG ratio of 4.49 and a beta of 0.76.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share 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%. Equities research analysts forecast that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PCTY. TD Cowen decreased their price objective on Paylocity from $235.00 to $228.00 and set a "buy" rating for the company in a report on Monday, January 6th. JMP Securities upped 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. Barclays dropped their target price on shares of Paylocity from $231.00 to $204.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. StockNews.com lowered shares of Paylocity from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $254.00 target price (up previously from $212.00) on shares of Paylocity in a report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Paylocity currently has a consensus rating of "Moderate Buy" and an average target price of $226.47.

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.