Blair William & Co. IL lessened its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 109,434 shares of the software maker's stock after selling 6,815 shares during the quarter. Blair William & Co. IL owned about 0.20% of Paylocity worth $21,829,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new position in Paylocity during the fourth quarter valued at approximately $29,000. UMB Bank n.a. boosted its position in 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 acquiring an additional 72 shares during the last quarter. Quarry LP raised its position in shares of Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker's stock worth $51,000 after acquiring an additional 185 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Paylocity by 489.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock valued at $54,000 after purchasing an additional 225 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Paylocity by 29.9% during 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. Institutional investors own 94.76% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on PCTY shares. Needham & Company LLC upped their target price on Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Raymond James reaffirmed an "outperform" rating and set a $265.00 target price (up previously from $215.00) on shares of Paylocity in a research report on Friday, February 7th. StockNews.com cut Paylocity from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Mizuho upgraded shares of Paylocity from a "neutral" rating to an "outperform" rating and increased their target price for the company from $200.00 to $235.00 in a report on Friday, January 31st. Finally, Stifel Nicolaus boosted their price target on shares of Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $233.25.
Get Our Latest Stock Analysis on PCTY
Insider Buying and Selling
In other 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 sale, the director now owns 420,000 shares in the company, valued at approximately $81,862,200. This trade represents a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.91% of the stock is owned by corporate insiders.
Paylocity Stock Performance
Shares of NASDAQ:PCTY traded up $2.47 during mid-day trading on Tuesday, reaching $189.81. 65,875 shares of the company traded hands, compared to its average volume of 474,349. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80. The firm has a market cap of $10.61 billion, a PE ratio of 48.70, a PEG ratio of 4.49 and a beta of 0.94. The company's 50 day moving average price is $201.00 and its 200-day moving average price is $192.96. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14.
Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly 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%. On average, equities analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.
Paylocity 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.
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