Paylocity Holding Co. (NASDAQ:PCTY) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 124.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,874 shares of the software maker's stock after buying an additional 12,691 shares during the quarter. Thrivent Financial for Lutherans' holdings in Paylocity were worth $4,563,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Geode Capital Management LLC lifted its holdings in Paylocity by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker's stock valued at $173,053,000 after purchasing an additional 36,590 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Paylocity by 81.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker's stock worth $141,303,000 after acquiring an additional 385,625 shares during the period. Janus Henderson Group PLC raised its holdings in Paylocity by 3.5% in the 3rd quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker's stock valued at $85,444,000 after acquiring an additional 17,560 shares during the last quarter. GW&K Investment Management LLC lifted its stake in shares of Paylocity by 0.6% during the 4th quarter. GW&K Investment Management LLC now owns 381,010 shares of the software maker's stock worth $76,000,000 after purchasing an additional 2,193 shares during the period. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Paylocity by 283.8% during the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker's stock worth $51,101,000 after purchasing an additional 229,057 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

PCTY has been the topic of several recent analyst reports. Barclays increased 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. Jefferies Financial Group raised their target price on shares of Paylocity from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. KeyCorp upped their price target on shares of Paylocity from $220.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Citigroup raised shares of Paylocity from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $214.00 to $231.00 in a research note on Thursday, January 16th. Finally, Needham & Company LLC increased 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. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $233.25.

Insiders Place Their Bets

In related news, Director Steven I. Sarowitz sold 23,243 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $191.00, for a total transaction of $4,439,413.00. Following the sale, the director now directly owns 470,452 shares of the company's stock, valued at approximately $89,856,332. This represents a 4.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 52,095 shares of company stock valued at $10,076,554 in the last ninety days. Corporate insiders own 21.91% of the company's stock.

Paylocity Stock Down 2.5 %

Shares of NASDAQ PCTY traded down $4.80 during midday trading on Friday, reaching $186.33. 318,935 shares of the company's stock were exchanged, compared to its average volume of 475,223. The stock has a market capitalization of $10.41 billion, a PE ratio of 47.78, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. 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 business's fifty day moving average price is $201.41 and its two-hundred day moving average price is $192.04.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its 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 net margin of 14.76% and a return on equity of 22.45%. Analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current 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.