Next Century Growth Investors LLC acquired a new stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 30,239 shares of the software maker's stock, valued at approximately $6,032,000. Next Century Growth Investors LLC owned approximately 0.05% of Paylocity as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Paylocity by 0.5% in 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 buying an additional 49 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Paylocity by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 19,118 shares of the software maker's stock worth $3,813,000 after purchasing an additional 51 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Paylocity by 29.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock valued at $55,000 after purchasing an additional 63 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock worth $49,000 after purchasing an additional 72 shares during the last quarter. Finally, HighPoint Advisor Group LLC increased its holdings in Paylocity by 5.1% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,559 shares of the software maker's stock valued at $326,000 after buying an additional 75 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Paylocity
In other Paylocity 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 value of $5,116,777.32. Following the completion of the transaction, the director now directly owns 420,000 shares in the company, valued at $81,862,200. This trade represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 21.91% of the stock is currently owned by corporate insiders.
Paylocity Price Performance
Shares of PCTY traded up $0.37 during mid-day trading on Thursday, hitting $184.12. The company's stock had a trading volume of 106,327 shares, compared to its average volume of 479,903. 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 has a 50-day moving average price of $194.76 and a 200 day moving average price of $194.36. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. The stock has a market capitalization of $10.29 billion, a price-to-earnings ratio of 47.31, 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 (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%. On average, research analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on PCTY. Mizuho lowered their price target on Paylocity from $245.00 to $220.00 and set an "outperform" rating for the company in a report on Tuesday. Citigroup raised shares of Paylocity from a "neutral" rating to a "buy" rating and lifted their price target for the company from $214.00 to $231.00 in a report on Thursday, January 16th. TD Cowen cut their target price on shares of Paylocity from $235.00 to $228.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Piper Sandler reiterated an "overweight" rating and set a $254.00 price target (up from $212.00) on shares of Paylocity in a research report on Thursday, February 6th. Finally, Stifel Nicolaus upped their price objective on Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $229.82.
Check Out Our Latest Analysis on PCTY
About Paylocity
(
Free Report)
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.
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