Vestcor Inc boosted its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 50.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,000 shares of the software maker's stock after buying an additional 5,000 shares during the quarter. Vestcor Inc's holdings in Paylocity were worth $2,992,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PCTY. Crossmark Global Holdings Inc. grew its position in shares of Paylocity by 14.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,367 shares of the software maker's stock valued at $556,000 after acquiring an additional 428 shares during the period. Venturi Wealth Management LLC lifted its position in Paylocity by 45.1% during the third quarter. Venturi Wealth Management LLC now owns 544 shares of the software maker's stock valued at $90,000 after purchasing an additional 169 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Paylocity by 297.6% during the third quarter. Victory Capital Management Inc. now owns 119,560 shares of the software maker's stock valued at $19,724,000 after purchasing an additional 89,487 shares during the period. Zions Bancorporation N.A. increased its position in Paylocity by 17.4% in the third quarter. Zions Bancorporation N.A. now owns 10,025 shares of the software maker's stock worth $1,654,000 after buying an additional 1,487 shares in the last quarter. Finally, OneDigital Investment Advisors LLC bought a new position in shares of Paylocity in the third quarter worth about $213,000. 94.76% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Paylocity
In other Paylocity news, Director Steven I. Sarowitz sold 3,083 shares of the business's stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $200.73, for a total transaction of $618,850.59. Following the completion of the transaction, the director now owns 8,335,347 shares in the company, valued at $1,673,154,203.31. The trade was a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 7,083 shares of company stock worth $1,420,041 over the last quarter. Insiders own 21.91% of the company's stock.
Paylocity Trading Down 0.2 %
PCTY traded down $0.30 on Tuesday, hitting $189.96. The company had a trading volume of 278,872 shares, compared to its average volume of 464,828. The business's fifty day simple moving average is $201.71 and its 200 day simple moving average is $190.63. 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 Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80. The company has a market cap of $10.62 billion, a PE ratio of 48.71, a PEG ratio of 4.49 and a beta of 0.94.
Paylocity (NASDAQ:PCTY - Get Free Report) last announced its 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%. Equities research analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current year.
Wall Street Analyst Weigh In
PCTY has been the subject of several analyst reports. Barclays increased their target price on shares of Paylocity from $214.00 to $231.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. Mizuho raised Paylocity from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $200.00 to $235.00 in a report on Friday, January 31st. Needham & Company LLC increased their price objective on shares of Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a report on Friday, February 7th. StockNews.com downgraded shares of Paylocity from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, KeyCorp raised their target price on shares of Paylocity from $220.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Paylocity currently has an average rating of "Moderate Buy" and a consensus price target of $233.25.
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About Paylocity
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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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