Paylocity Holding Co. (NASDAQ:PCTY) Stock Position Raised by Commerce Bank

Commerce Bank grew its stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 614.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,629 shares of the software maker's stock after acquiring an additional 13,441 shares during the quarter. Commerce Bank's holdings in Paylocity were worth $3,118,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in Paylocity by 81.9% during the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker's stock worth $141,303,000 after purchasing an additional 385,625 shares in the last quarter. FMR LLC grew its holdings in shares of Paylocity by 138.5% in the fourth quarter. FMR LLC now owns 650,599 shares of the software maker's stock valued at $129,775,000 after purchasing an additional 377,835 shares in the last quarter. Invesco Ltd. raised its position in Paylocity by 31.7% in the 4th quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker's stock valued at $265,737,000 after purchasing an additional 320,319 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Paylocity by 190.0% during the fourth quarter. American Century Companies Inc. now owns 349,797 shares of the software maker's stock worth $69,774,000 after buying an additional 229,179 shares during the period. Finally, Trillium Asset Management LLC raised its holdings in Paylocity by 194.7% in the fourth quarter. Trillium Asset Management LLC now owns 99,706 shares of the software maker's stock valued at $19,888,000 after acquiring an additional 65,869 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

Paylocity Price Performance

PCTY stock traded up $2.60 during midday trading on Friday, hitting $191.11. 342,888 shares of the stock were exchanged, compared to its average volume of 479,740. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week 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. The stock's 50-day moving average price is $190.56 and its 200-day moving average price is $195.28. The stock has a market cap of $10.68 billion, a price-to-earnings ratio of 49.00, a PEG ratio of 4.49 and a beta of 0.76.

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

Insider Transactions at Paylocity

In related news, Director Steven I. Sarowitz sold 26,252 shares of the firm's stock in a transaction on Monday, March 24th. The shares were 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 of the company's stock, valued at approximately $81,862,200. This trade represents a 5.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 21.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PCTY shares. UBS Group increased their price objective on shares of Paylocity from $211.00 to $220.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Barclays dropped their target price on Paylocity from $231.00 to $204.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Raymond James reaffirmed an "outperform" rating and set a $265.00 price objective (up from $215.00) on shares of Paylocity in a research report on Friday, February 7th. JMP Securities raised their target price on Paylocity from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research report on Friday, February 7th. Finally, Mizuho lowered their price target on Paylocity from $245.00 to $220.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $226.47.

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.