Vanguard Group Inc. Raises Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Vanguard Group Inc. increased its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,029,402 shares of the software maker's stock after buying an additional 46,183 shares during the quarter. Vanguard Group Inc. owned about 7.23% of Paylocity worth $803,745,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of Paylocity during the 4th quarter valued at about $29,000. UMB Bank n.a. raised its stake in Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock worth $49,000 after purchasing an additional 72 shares during the period. Quarry LP boosted its holdings in 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 last quarter. EverSource Wealth Advisors LLC boosted its holdings in Paylocity by 489.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock valued at $54,000 after purchasing an additional 225 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Paylocity by 29.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock valued at $55,000 after buying an additional 63 shares during the period. Institutional investors and hedge funds own 94.76% of the company's stock.

Remove Ads

Insider Buying and Selling

In other news, Director Steven I. Sarowitz sold 23,243 shares of Paylocity stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $191.00, for a total transaction of $4,439,413.00. Following the completion of the sale, the director now directly owns 470,452 shares of the company's stock, valued at approximately $89,856,332. The trade was a 4.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 21.91% of the stock is owned by insiders.

Paylocity Stock Up 0.1 %

Shares of NASDAQ PCTY traded up $0.11 during mid-day trading on Wednesday, hitting $189.94. The company had a trading volume of 193,197 shares, compared to its average volume of 454,639. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80. The company has a market capitalization of $10.62 billion, a PE ratio of 48.70, a price-to-earnings-growth ratio of 4.49 and a beta of 0.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. The business's 50-day simple moving average is $200.85 and its 200 day simple moving average is $193.17.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share (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%. On average, analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Wall Street Analyst Weigh In

PCTY has been the topic of a number of recent analyst reports. KeyCorp upped their price objective on Paylocity from $220.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Citigroup raised Paylocity from a "neutral" rating to a "buy" rating and upped their price target for the company from $214.00 to $231.00 in a research note on Thursday, January 16th. UBS Group raised their price objective on Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Needham & Company LLC upped their target price on shares of Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Finally, Raymond James reiterated an "outperform" rating and set a $265.00 price target (up from $215.00) on shares of Paylocity in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $233.25.

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.