Raymond James Financial Inc. acquired a new stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 34,182 shares of the software maker's stock, valued at approximately $6,818,000. Raymond James Financial Inc. owned 0.06% of Paylocity as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of PCTY. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Paylocity by 0.5% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker's stock worth $1,916,000 after buying an additional 49 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings 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. UMB Bank n.a. grew its position 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. HighPoint Advisor Group LLC increased its stake in Paylocity by 5.1% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,559 shares of the software maker's stock worth $326,000 after purchasing an additional 75 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Paylocity by 2.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,156 shares of the software maker's stock valued at $630,000 after buying an additional 77 shares in the last quarter. Institutional investors own 94.76% of the company's stock.
Paylocity Stock Performance
Shares of NASDAQ PCTY traded up $2.60 during mid-day trading on Friday, reaching $191.11. 342,888 shares of the company were exchanged, compared to its average volume of 480,164. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80. The stock has a market capitalization of $10.68 billion, a P/E ratio of 49.00, a P/E/G ratio of 4.49 and a beta of 0.76. The company's 50-day simple moving average is $190.56 and its 200-day simple moving average is $195.50. 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 (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 net margin of 14.76% and a return on equity of 22.45%. As a group, research analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the stock. JMP Securities raised their price objective on shares of Paylocity from $250.00 to $270.00 and gave the stock a "market outperform" rating in a report on Friday, February 7th. Barclays reduced their price objective on Paylocity from $231.00 to $204.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. 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. UBS Group raised 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. Finally, Scotiabank initiated coverage on shares of Paylocity in a research report on Wednesday, April 16th. They issued a "sector perform" rating and a $190.00 price objective on the stock. Four 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 $226.47.
Read Our Latest Stock Analysis on PCTY
Insider Activity
In other Paylocity news, Director Steven I. Sarowitz sold 23,243 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $191.00, for a total value of $4,439,413.00. Following the completion of the sale, the director now owns 470,452 shares of the company's stock, valued at $89,856,332. The trade was a 4.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 21.91% of the stock is currently owned by company insiders.
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.
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