Principal Financial Group Inc. Increases Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Principal Financial Group Inc. grew its stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 13.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 141,518 shares of the software maker's stock after buying an additional 17,176 shares during the period. Principal Financial Group Inc. owned 0.25% of Paylocity worth $28,229,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PCTY. CIBC Asset Management Inc grew its position in shares of Paylocity by 3.6% during the third quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker's stock worth $273,000 after buying an additional 58 shares in the last quarter. UMB Bank n.a. raised its position in Paylocity by 41.1% in the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock worth $49,000 after acquiring an additional 72 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in Paylocity by 3.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker's stock valued at $395,000 after purchasing an additional 82 shares in the last quarter. Covestor Ltd increased its position in Paylocity by 6.4% during the 3rd quarter. Covestor Ltd now owns 1,373 shares of the software maker's stock worth $227,000 after purchasing an additional 83 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in Paylocity by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the software maker's stock worth $2,414,000 after buying an additional 100 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

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Paylocity Stock Up 0.4 %

Shares of NASDAQ PCTY traded up $0.79 during midday trading on Wednesday, hitting $204.98. The stock had a trading volume of 94,101 shares, compared to its average volume of 491,931. The business's 50 day moving average is $202.93 and its 200-day moving average is $186.78. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80. The company has a market cap of $11.46 billion, a P/E ratio of 52.44, a PEG ratio of 4.49 and a beta of 0.95.

Paylocity (NASDAQ:PCTY - Get Free Report) last released 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 net margin of 14.76% and a return on equity of 22.45%. As a group, analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Citigroup raised shares of Paylocity from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $214.00 to $231.00 in a research note on Thursday, January 16th. Needham & Company LLC boosted 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. Barclays lifted their price target on Paylocity from $214.00 to $231.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. UBS Group upped their price target on Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Finally, StockNews.com lowered Paylocity from a "buy" rating to a "hold" rating in a research note 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's stock. Based on data from MarketBeat.com, Paylocity presently has a consensus rating of "Moderate Buy" and a consensus price target of $233.25.

Insider Activity at Paylocity

In related news, CFO Ryan Glenn sold 2,600 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $205.40, for a total value of $534,040.00. Following the transaction, the chief financial officer now owns 48,150 shares in the company, valued at approximately $9,890,010. This represents a 5.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven I. Sarowitz sold 2,900 shares of the firm's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $208.17, for a total value of $603,693.00. Following the sale, the director now owns 9,211,215 shares in the company, valued at $1,917,498,626.55. This trade represents a 0.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,249 shares of company stock valued at $14,724,870. Insiders own 21.91% of the company's stock.

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.