Shaker Investments LLC OH Acquires 6,902 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Shaker Investments LLC OH grew its position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 59.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,567 shares of the software maker's stock after acquiring an additional 6,902 shares during the quarter. Paylocity accounts for approximately 1.6% of Shaker Investments LLC OH's portfolio, making the stock its 20th largest holding. Shaker Investments LLC OH's holdings in Paylocity were worth $3,704,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Peterson Wealth Services grew its holdings in shares of Paylocity by 5.5% in the fourth quarter. Peterson Wealth Services now owns 4,999 shares of the software maker's stock valued at $997,000 after acquiring an additional 261 shares in the last quarter. Summit Trail Advisors LLC bought a new position in Paylocity in the 4th quarter valued at $400,000. Burns Matteson Capital Management LLC purchased a new stake in shares of Paylocity during the 4th quarter valued at $421,000. Entropy Technologies LP raised its stake in shares of Paylocity by 249.3% during the 4th quarter. Entropy Technologies LP now owns 4,300 shares of the software maker's stock worth $858,000 after purchasing an additional 3,069 shares during the period. Finally, Empowered Funds LLC boosted its holdings in shares of Paylocity by 31.6% in the 4th quarter. Empowered Funds LLC now owns 11,571 shares of the software maker's stock worth $2,308,000 after buying an additional 2,776 shares during the last quarter. Institutional investors own 94.76% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PCTY shares. Needham & Company LLC raised their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Citigroup upgraded shares of Paylocity from a "neutral" rating to a "buy" rating and raised their price target for the stock from $214.00 to $231.00 in a research note on Thursday, January 16th. Mizuho upgraded Paylocity from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $200.00 to $235.00 in a research note on Friday, January 31st. Barclays raised their target price on Paylocity from $214.00 to $231.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Finally, StockNews.com cut Paylocity from a "buy" rating to a "hold" rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $233.25.

Insiders Place Their Bets

In related news, SVP Andrew Cappotelli sold 247 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $47,742.63. Following the transaction, the senior vice president now owns 14,634 shares of the company's stock, valued at $2,828,605.86. This represents a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Nicholas Rost sold 212 shares of Paylocity stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $40,977.48. Following the sale, the chief accounting officer now directly owns 7,364 shares of the company's stock, valued at approximately $1,423,387.56. This trade represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 126,434 shares of company stock worth $25,636,985 in the last ninety days. 21.91% of the stock is currently owned by insiders.

Paylocity Price Performance

NASDAQ:PCTY traded down $0.23 during mid-day trading on Friday, hitting $217.33. 247,675 shares of the stock traded hands, compared to its average volume of 512,319. The business's 50-day moving average price is $201.45 and its 200 day moving average price is $182.80. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. The company has a market cap of $12.12 billion, a PE ratio of 55.75, a price-to-earnings-growth ratio of 5.19 and a beta of 0.95. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80.

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 analysts' consensus estimates of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.93%. On average, analysts expect that Paylocity Holding Co. will post 4.46 EPS for the current fiscal year.

About Paylocity

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.