Sei Investments Co. Increases Position in Paylocity Holding Co. (NASDAQ:PCTY)

Sei Investments Co. increased its holdings in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 9.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 189,565 shares of the software maker's stock after buying an additional 17,076 shares during the period. Sei Investments Co. owned 0.34% of Paylocity worth $37,814,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PCTY. Geode Capital Management LLC grew its stake in shares of Paylocity by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker's stock valued at $173,053,000 after buying an additional 36,590 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Paylocity by 81.9% during the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker's stock valued at $141,303,000 after acquiring an additional 385,625 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Paylocity by 3.5% during the third quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker's stock worth $85,444,000 after purchasing an additional 17,560 shares during the period. GW&K Investment Management LLC grew its stake in shares of 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 purchasing an additional 2,193 shares during the last quarter. Finally, 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 valued at $69,774,000 after purchasing an additional 229,179 shares during the period. 94.76% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PCTY shares. Citigroup raised Paylocity from a "neutral" rating to a "buy" rating and upped their price target for the stock from $214.00 to $231.00 in a research note on Thursday, January 16th. Jefferies Financial Group boosted their price objective on shares of Paylocity from $240.00 to $255.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Stifel Nicolaus raised their target price on shares of Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, February 7th. UBS Group boosted their price target on Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Finally, StockNews.com lowered Paylocity from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Three 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $233.25.

Paylocity Stock Performance

Shares of NASDAQ:PCTY traded down $4.80 during midday trading on Friday, hitting $186.33. The company had a trading volume of 318,935 shares, compared to its average volume of 476,165. The company has a fifty day moving average of $201.20 and a two-hundred day moving average of $192.25. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-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 company has a market cap of $10.41 billion, a price-to-earnings ratio of 47.78, a PEG ratio of 4.49 and a beta of 0.94.

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

Insiders Place Their Bets

In other news, Director Steven I. Sarowitz sold 23,243 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $191.00, for a total transaction of $4,439,413.00. Following the sale, the director now directly owns 470,452 shares of the company's stock, valued at $89,856,332. This represents a 4.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 52,095 shares of company stock worth $10,076,554 in the last 90 days. 21.91% of the stock is currently owned by corporate 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.