Proficio Capital Partners LLC acquired a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,367 shares of the software maker's stock, valued at approximately $2,467,000.
Other hedge funds have also added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new stake in shares of Paylocity in the 3rd quarter valued at about $39,000. UMB Bank n.a. raised its stake in shares of Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock valued at $49,000 after purchasing an additional 72 shares during the period. Quarry LP raised its stake in shares of Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker's stock valued at $51,000 after purchasing an additional 185 shares during the period. GAMMA Investing LLC raised its stake in shares of Paylocity by 43.3% in the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker's stock valued at $77,000 after purchasing an additional 116 shares during the period. Finally, Tompkins Financial Corp acquired a new stake in shares of Paylocity in the 3rd quarter valued at about $82,000. Institutional investors and hedge funds own 94.76% of the company's stock.
Insider Transactions at Paylocity
In other news, Director Steven I. Sarowitz sold 1,400 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $200.59, for a total transaction of $280,826.00. Following the completion of the sale, the director now owns 8,338,430 shares in the company, valued at $1,672,605,673.70. The trade was a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 54,654 shares of company stock worth $11,067,608 over the last quarter. Company insiders own 21.91% of the company's stock.
Analysts Set New Price Targets
Several analysts have issued reports on PCTY shares. 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 research note on Thursday, January 16th. StockNews.com downgraded Paylocity from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Barclays lifted their price target on Paylocity from $214.00 to $231.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Jefferies Financial Group lifted their target price on Paylocity from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Finally, TD Cowen lowered their target price on Paylocity from $235.00 to $228.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Three 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, the stock has a consensus rating of "Moderate Buy" and an average price target of $233.25.
Check Out Our Latest Research Report on Paylocity
Paylocity Stock Performance
Paylocity stock traded up $4.29 during midday trading on Friday, reaching $195.11. 369,910 shares of the company's stock were exchanged, compared to its average volume of 490,603. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $10.90 billion, a price-to-earnings ratio of 50.03, a P/E/G ratio of 4.49 and a beta of 0.94. The stock's 50-day simple moving average is $203.18 and its 200 day simple moving average is $189.21.
Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 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%. On average, analysts expect that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.
About Paylocity
(
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.
Further Reading
Before you consider Paylocity, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Paylocity wasn't on the list.
While Paylocity currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
