Candlestick Capital Management LP Has $11.47 Million Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Candlestick Capital Management LP grew its stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 20.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,501 shares of the software maker's stock after buying an additional 9,632 shares during the quarter. Candlestick Capital Management LP owned 0.10% of Paylocity worth $11,470,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new stake in shares of Paylocity in the fourth quarter worth $29,000. UMB Bank n.a. lifted its position in shares of Paylocity by 41.1% in 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 in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Paylocity by 489.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock worth $54,000 after purchasing an additional 225 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock worth $55,000 after purchasing an additional 63 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in shares of Paylocity in the fourth quarter worth $72,000. Institutional investors and hedge funds own 94.76% of the company's stock.

Paylocity Trading Up 1.1 %

NASDAQ PCTY traded up $2.06 on Thursday, reaching $194.16. The company had a trading volume of 544,255 shares, compared to its average volume of 478,679. The firm has a market cap of $10.85 billion, a price-to-earnings ratio of 49.78, a P/E/G ratio of 4.49 and a beta of 0.76. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. The business has a 50 day moving average of $189.57 and a two-hundred day moving average of $195.86. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings data 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 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.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the 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 sale, the director now directly owns 420,000 shares in the company, valued at approximately $81,862,200. This trade represents a 5.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 21.91% of the company's stock.

Wall Street Analyst Weigh In

PCTY has been the topic of a number of research reports. TD Cowen cut their price objective on shares of Paylocity from $235.00 to $228.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. KeyCorp dropped their price target on shares of Paylocity from $250.00 to $220.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. StockNews.com lowered shares of Paylocity from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Needham & Company LLC upped their price target on shares of Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Finally, Scotiabank began coverage on shares of Paylocity in a research report on Wednesday, April 16th. They set a "sector perform" rating and a $190.00 price target on the stock. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $226.12.

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.