Anomaly Capital Management LP Makes New $19.11 Million Investment in Paylocity Holding Co. (NASDAQ:PCTY)

Anomaly Capital Management LP acquired a new position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 95,780 shares of the software maker's stock, valued at approximately $19,105,000. Anomaly Capital Management LP owned 0.17% of Paylocity at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in Paylocity during the fourth quarter worth $29,000. UMB Bank n.a. lifted its holdings in shares of Paylocity by 41.1% during the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock worth $49,000 after acquiring an additional 72 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Paylocity by 489.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock valued at $54,000 after acquiring an additional 225 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock valued at $55,000 after acquiring an additional 63 shares during the period. Finally, GAMMA Investing LLC raised its position in Paylocity by 43.3% in the fourth quarter. GAMMA Investing LLC now owns 384 shares of the software maker's stock worth $77,000 after purchasing an additional 116 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PCTY. Barclays lowered their price objective on Paylocity from $231.00 to $204.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. TD Cowen lowered their price target on Paylocity from $235.00 to $228.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. StockNews.com cut Paylocity from a "buy" rating to a "hold" rating in a report on Monday, February 10th. JMP Securities upped their target price 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. Finally, Raymond James restated an "outperform" rating and issued a $265.00 price target (up from $215.00) on shares of Paylocity in a research report on Friday, February 7th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Paylocity has an average rating of "Moderate Buy" and a consensus target price of $226.47.

Paylocity Trading Up 1.4 %

NASDAQ:PCTY traded up $2.60 on Friday, hitting $191.11. 342,888 shares of the stock were exchanged, compared to its average volume of 480,164. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80. The stock has a market capitalization of $10.68 billion, a price-to-earnings ratio of 49.00, a P/E/G ratio of 4.49 and a beta of 0.76. The company's 50-day moving average price is $190.56 and its 200 day moving average price is $195.73.

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

Insider Activity at Paylocity

In other news, Director Steven I. Sarowitz sold 26,252 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the completion of the transaction, the director now directly owns 420,000 shares in the company, valued at approximately $81,862,200. The trade was a 5.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 21.91% of the stock is currently owned by corporate insiders.

Paylocity Company 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.