Bayesian Capital Management LP Acquires New Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Bayesian Capital Management LP acquired a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,102 shares of the software maker's stock, valued at approximately $818,000.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Paylocity by 138.5% during the 4th quarter. FMR LLC now owns 650,599 shares of the software maker's stock valued at $129,775,000 after buying an additional 377,835 shares during the last quarter. Invesco Ltd. lifted its stake in Paylocity by 31.7% in the fourth quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker's stock valued at $265,737,000 after acquiring an additional 320,319 shares during the last quarter. American Century Companies Inc. grew its position in Paylocity by 190.0% in the fourth quarter. American Century Companies Inc. now owns 349,797 shares of the software maker's stock worth $69,774,000 after acquiring an additional 229,179 shares in the last quarter. Tudor Investment Corp ET AL grew its position in Paylocity by 6,025.6% in the fourth quarter. Tudor Investment Corp ET AL now owns 125,758 shares of the software maker's stock worth $25,085,000 after acquiring an additional 123,705 shares in the last quarter. Finally, Anomaly Capital Management LP acquired a new position in shares of Paylocity during the 4th quarter worth $19,105,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Price Performance

Shares of PCTY stock traded up $1.07 during mid-day trading on Friday, reaching $194.61. The company's stock had a trading volume of 345,972 shares, compared to its average volume of 467,616. The firm's 50-day moving average is $187.64 and its two-hundred day moving average is $196.76. The company has a market cap of $10.75 billion, a P/E ratio of 49.90, a PEG ratio of 4.49 and a beta of 0.58. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year 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.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, topping analysts' consensus estimates of $2.09 by $0.34. Paylocity had a net margin of 14.76% and a return on equity of 22.45%. The firm had revenue of $454.55 million during the quarter, compared to analysts' expectations of $441.77 million. During the same quarter last year, the company earned $2.21 earnings per share. The company's revenue for the quarter was up 13.3% compared to the same quarter last year. On average, research analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Insider Buying and Selling at Paylocity

In other news, Director Steven I. Sarowitz sold 26,252 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.91, for a total value of $5,116,777.32. Following the transaction, the director now directly owns 420,000 shares of the company's stock, valued at $81,862,200. The trade was a 5.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 21.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Barclays upped their price objective on shares of Paylocity from $204.00 to $209.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. KeyCorp decreased their price target on Paylocity from $250.00 to $220.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Raymond James reissued an "outperform" rating and issued a $235.00 price objective (down from $265.00) on shares of Paylocity in a research note on Friday, May 2nd. Scotiabank initiated coverage on Paylocity in a research report on Wednesday, April 16th. They set a "sector perform" rating and a $190.00 target price for the company. Finally, Mizuho lowered their price target on Paylocity from $245.00 to $220.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $223.00.

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.