Nomura Asset Management Co. Ltd. lifted its position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 17.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,988 shares of the software maker's stock after purchasing an additional 1,609 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Paylocity were worth $2,192,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in Paylocity in the 4th quarter worth $29,000. UMB Bank n.a. increased 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 valued at $49,000 after buying an additional 72 shares during the period. EverSource Wealth Advisors LLC raised its stake in Paylocity by 489.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock worth $54,000 after buying an additional 225 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock worth $55,000 after buying an additional 63 shares during the period. Finally, Quarry LP boosted its position in Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker's stock valued at $51,000 after acquiring an additional 185 shares in the last quarter. 94.76% of the stock is owned by institutional investors.
Insider Activity
In related news, Director Steven I. Sarowitz sold 26,252 shares of the company's stock in a transaction on Monday, March 24th. The stock was 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 owns 420,000 shares in the company, valued at approximately $81,862,200. This represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 21.91% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. Piper Sandler reissued an "overweight" rating and issued a $254.00 target price (up previously from $212.00) on shares of Paylocity in a research report on Thursday, February 6th. Jefferies Financial Group increased their price objective on Paylocity from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, February 7th. UBS Group boosted their target price on shares of Paylocity from $211.00 to $220.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Mizuho raised shares of Paylocity from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $200.00 to $235.00 in a research report on Friday, January 31st. Finally, Barclays boosted their price objective on shares of Paylocity from $214.00 to $231.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, Paylocity currently has a consensus rating of "Moderate Buy" and a consensus price target of $233.25.
View Our Latest Analysis on Paylocity
Paylocity Stock Performance
NASDAQ PCTY traded down $0.07 during trading hours on Monday, hitting $174.81. The company's stock had a trading volume of 718,130 shares, compared to its average volume of 478,969. The company's 50 day simple moving average is $199.05 and its two-hundred day simple moving average is $193.73. 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 company has a market cap of $9.77 billion, a P/E ratio of 44.82, a price-to-earnings-growth ratio of 4.49 and a beta of 0.76. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $223.80.
Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly 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 return on equity of 22.45% and a net margin of 14.76%. As a group, sell-side analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.
Paylocity Company Profile
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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.
Further Reading
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