Sanctuary Advisors LLC Boosts Position in Paylocity Holding Co. (NASDAQ:PCTY)

Sanctuary Advisors LLC boosted its stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 1,659.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,208 shares of the software maker's stock after purchasing an additional 21,889 shares during the period. Sanctuary Advisors LLC's holdings in Paylocity were worth $4,675,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PCTY. Prospera Private Wealth LLC purchased a new position in shares of Paylocity during the third quarter valued at approximately $39,000. UMB Bank n.a. increased its stake 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. Signaturefd LLC increased its stake in shares of Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker's stock valued at $50,000 after buying an additional 167 shares during the period. Quarry LP increased its stake in shares of Paylocity by 149.2% during the third quarter. Quarry LP now owns 309 shares of the software maker's stock valued at $51,000 after buying an additional 185 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Paylocity by 43.3% during the fourth quarter. GAMMA Investing LLC now owns 384 shares of the software maker's stock valued at $77,000 after buying an additional 116 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PCTY has been the topic of several research analyst reports. KeyCorp boosted their target price on Paylocity from $220.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. StockNews.com cut Paylocity from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Truist Financial upped their price target on Paylocity from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. TD Cowen reduced their price target on Paylocity from $235.00 to $228.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, Mizuho raised Paylocity from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $200.00 to $235.00 in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, Paylocity has an average rating of "Moderate Buy" and an average price target of $233.25.

Paylocity Stock Down 0.8 %

Paylocity stock traded down $1.60 during mid-day trading on Friday, hitting $204.82. The company had a trading volume of 369,200 shares, compared to its average volume of 488,593. The company has a market capitalization of $11.45 billion, a PE ratio of 52.52, a price-to-earnings-growth ratio of 4.49 and a beta of 0.95. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $223.80. The stock's 50 day moving average price is $202.82 and its two-hundred day moving average price is $185.84.

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

Insider Activity

In related news, Director Steven I. Sarowitz sold 2,900 shares of the company's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $208.17, for a total transaction of $603,693.00. Following the completion of the sale, the director now owns 9,211,215 shares in the company, valued at approximately $1,917,498,626.55. This represents a 0.03 % 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. Also, Director Jeffrey T. Diehl sold 4,513 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $209.91, for a total value of $947,323.83. Following the sale, the director now owns 1,003 shares of the company's stock, valued at approximately $210,539.73. This trade represents a 81.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,999 shares of company stock valued at $17,822,987 over the last ninety days. 21.91% of the stock is currently owned by corporate insiders.

About Paylocity

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.