Ranger Investment Management L.P. boosted its position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 35.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 154,965 shares of the software maker's stock after acquiring an additional 40,275 shares during the quarter. Paylocity accounts for 2.0% of Ranger Investment Management L.P.'s investment portfolio, making the stock its 17th biggest position. Ranger Investment Management L.P. owned 0.28% of Paylocity worth $30,911,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Certuity LLC acquired a new position in shares of Paylocity during the fourth quarter worth $232,000. Barclays PLC lifted its holdings in Paylocity by 14.3% in the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker's stock worth $7,407,000 after buying an additional 5,609 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Paylocity by 5,742.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker's stock valued at $1,165,000 after buying an additional 5,742 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Paylocity by 3.6% in 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 purchasing an additional 36,590 shares during the last quarter. Finally, Park Avenue Securities LLC increased its holdings in Paylocity by 63.3% during the 4th quarter. Park Avenue Securities LLC now owns 5,590 shares of the software maker's stock worth $1,115,000 after purchasing an additional 2,167 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently issued reports on PCTY shares. UBS Group lifted their price target on shares of Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Citigroup raised 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. Raymond James reaffirmed an "outperform" rating and issued a $265.00 price objective (up previously from $215.00) on shares of Paylocity in a report on Friday, February 7th. StockNews.com cut Paylocity from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Barclays upped their price objective on Paylocity from $214.00 to $231.00 and gave the company an "equal weight" rating in a report 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $233.25.
Check Out Our Latest Report on Paylocity
Paylocity Stock Down 0.1 %
NASDAQ:PCTY traded down $0.27 on Monday, hitting $187.00. 127,775 shares of the company's stock traded hands, compared to its average volume of 479,264. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. The company has a market cap of $10.45 billion, a PE ratio of 47.95, a price-to-earnings-growth ratio of 4.49 and a beta of 0.76. The firm has a 50-day moving average price of $196.14 and a 200-day moving average price of $194.30.
Paylocity (NASDAQ:PCTY - Get Free Report) last posted its earnings results on Thursday, February 6th. The software maker reported $0.82 EPS 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%. Equities analysts anticipate that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.
Insider Activity
In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the 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 transaction, the director now directly owns 420,000 shares in the company, valued at $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 SEC, which can be accessed through this link. Corporate insiders own 21.91% of the company's stock.
Paylocity Company Profile
(
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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