Polen Capital Management LLC Acquires 5,357 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Polen Capital Management LLC lifted its stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 23.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,689 shares of the software maker's stock after purchasing an additional 5,357 shares during the quarter. Polen Capital Management LLC owned 0.05% of Paylocity worth $5,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of PCTY. Certuity LLC purchased a new position in Paylocity in the 4th quarter worth about $232,000. Edgestream Partners L.P. raised its position in Paylocity by 222.3% in the 3rd quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker's stock worth $1,788,000 after buying an additional 7,475 shares during the last quarter. Barclays PLC raised its position 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 during the last quarter. Nisa Investment Advisors LLC raised 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 worth $1,165,000 after buying an additional 5,742 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Paylocity by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker's stock worth $46,592,000 after buying an additional 4,697 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

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Insider Buying and Selling

In other news, Director Steven I. Sarowitz sold 3,083 shares of Paylocity stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $200.73, for a total transaction of $618,850.59. Following the completion of the sale, the director now directly owns 8,335,347 shares in the company, valued at approximately $1,673,154,203.31. This trade represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 7,083 shares of company stock worth $1,420,041 over the last three months. 21.91% of the stock is owned by insiders.

Analysts Set New Price Targets

PCTY has been the subject of a number of recent analyst reports. Raymond James reissued an "outperform" rating and issued a $265.00 target price (up previously from $215.00) on shares of Paylocity in a research report on Friday, February 7th. Needham & Company LLC upped their price target on shares of Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Citigroup raised shares of Paylocity from a "neutral" rating to a "buy" rating and upped their price target for the company from $214.00 to $231.00 in a research report on Thursday, January 16th. KeyCorp upped their price target on shares of Paylocity from $220.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Finally, Jefferies Financial Group upped their price target on shares of Paylocity from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $233.25.

Paylocity Price Performance

Shares of PCTY stock traded down $0.15 on Thursday, reaching $190.75. The company's stock had a trading volume of 261,315 shares, compared to its average volume of 465,014. The stock's fifty day simple moving average is $201.50 and its 200-day simple moving average is $190.83. 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 capitalization of $10.66 billion, a price-to-earnings ratio of 48.91, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued 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 return on equity of 22.45% and a net margin of 14.76%. Analysts forecast that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Paylocity 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.