Fox Run Management L.L.C. Acquires Shares of 7,274 Paylocity Holding Corporation $PCTY

Key Points

• Fox Run Management L.L.C. acquired 7,274 shares of Paylocity Holding Corporation, valued at approximately $1.36 million, during the first quarter.
• Paylocity reported earnings of $1.56 per share for the last quarter, exceeding estimates and marking a 12.2% year-over-year revenue increase.
• Analysts have a consensus target price of $222.71 for Paylocity, with the stock receiving a majority "buy" ratings from research analysts.

Fox Run Management L.L.C. purchased a new stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,274 shares of the software maker's stock, valued at approximately $1,363,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. TCTC Holdings LLC boosted its position in shares of Paylocity by 115.9% during the first quarter. TCTC Holdings LLC now owns 149 shares of the software maker's stock valued at $28,000 after buying an additional 80 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Paylocity during the first quarter valued at $29,000. Hughes Financial Services LLC purchased a new stake in shares of Paylocity during the first quarter valued at $48,000. Bayforest Capital Ltd boosted its position in shares of Paylocity by 69.1% during the first quarter. Bayforest Capital Ltd now owns 296 shares of the software maker's stock valued at $55,000 after buying an additional 121 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Paylocity during the fourth quarter valued at $72,000. 94.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PCTY has been the topic of several research reports. KeyCorp raised their target price on Paylocity from $220.00 to $225.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Stifel Nicolaus dropped their target price on Paylocity from $250.00 to $235.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Stephens initiated coverage on Paylocity in a research report on Monday, July 21st. They issued an "equal weight" rating and a $200.00 target price on the stock. JMP Securities reissued a "market outperform" rating and issued a $270.00 target price on shares of Paylocity in a research report on Tuesday, April 29th. Finally, BMO Capital Markets raised their target price on Paylocity from $226.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $222.71.

Paylocity Price Performance

Shares of PCTY traded up $6.22 during mid-day trading on Monday, hitting $178.18. 645,456 shares of the stock were exchanged, compared to its average volume of 485,119. The company has a market cap of $9.83 billion, a PE ratio of 44.43, a price-to-earnings-growth ratio of 3.40 and a beta of 0.54. Paylocity Holding Corporation has a 52-week low of $150.87 and a 52-week high of $223.80. The firm has a 50-day moving average of $181.24 and a two-hundred day moving average of $189.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.14 and a current ratio of 1.14.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The software maker reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.18. The business had revenue of $400.74 million for the quarter, compared to analysts' expectations of $388.25 million. Paylocity had a return on equity of 22.08% and a net margin of 14.24%. The company's revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.48 EPS. On average, equities analysts predict that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

Insider Activity

In other news, SVP Andrew Cappotelli sold 1,717 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $176.74, for a total transaction of $303,462.58. Following the transaction, the senior vice president owned 11,953 shares of the company's stock, valued at approximately $2,112,573.22. The trade was a 12.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 21.91% of the stock is owned by company insiders.

About Paylocity

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.