Amiral Gestion Takes $7.35 Million Position in Paylocity Holding Co. (NASDAQ:PCTY)

Amiral Gestion bought a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 36,860 shares of the software maker's stock, valued at approximately $7,352,000. Paylocity comprises approximately 4.6% of Amiral Gestion's investment portfolio, making the stock its 8th biggest position. Amiral Gestion owned approximately 0.07% of Paylocity as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PCTY. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Paylocity by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker's stock valued at $1,916,000 after acquiring an additional 49 shares during the last quarter. Bessemer Group Inc. lifted its stake in Paylocity by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 19,118 shares of the software maker's stock valued at $3,813,000 after acquiring an additional 51 shares during the last quarter. Steward Partners Investment Advisory LLC lifted 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 last quarter. UMB Bank n.a. lifted its stake in Paylocity by 41.1% in the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock valued at $49,000 after acquiring an additional 72 shares during the last quarter. Finally, HighPoint Advisor Group LLC lifted its stake in Paylocity by 5.1% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,559 shares of the software maker's stock valued at $326,000 after acquiring an additional 75 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the business's stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 21.91% of the company's stock.

Paylocity Stock Performance

Paylocity stock traded down $3.67 during midday trading on Wednesday, hitting $193.77. The company's stock had a trading volume of 298,015 shares, compared to its average volume of 460,527. 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 current ratio of 1.14 and a quick ratio of 1.14. The company has a 50-day moving average price of $189.60 and a two-hundred day moving average price of $197.63. The company has a market cap of $10.70 billion, a price-to-earnings ratio of 49.68, a PEG ratio of 4.49 and a beta of 0.58.

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

Analyst Upgrades and Downgrades

PCTY has been the subject of a number of recent analyst reports. UBS Group increased their price target on shares of Paylocity from $195.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Mizuho cut their price target on shares of Paylocity from $245.00 to $220.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Barclays raised their target price on shares of Paylocity from $204.00 to $209.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. BMO Capital Markets raised their target price on shares of Paylocity from $210.00 to $226.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, Citigroup cut their target price on shares of Paylocity from $246.00 to $225.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $223.00.

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.