AXQ Capital LP purchased a new position in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 13,379 shares of the software maker's stock, valued at approximately $1,399,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. State of Michigan Retirement System lifted its stake in shares of Paylocity by 1.0% in the 1st quarter. State of Michigan Retirement System now owns 10,472 shares of the software maker's stock valued at $1,131,000 after purchasing an additional 100 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Paylocity by 3.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,419 shares of the software maker's stock worth $521,000 after purchasing an additional 106 shares during the period. Smartleaf Asset Management LLC increased its holdings in Paylocity by 35.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 428 shares of the software maker's stock valued at $77,000 after purchasing an additional 111 shares during the last quarter. State of Wyoming increased its holdings in Paylocity by 16.0% in the 1st quarter. State of Wyoming now owns 861 shares of the software maker's stock valued at $93,000 after purchasing an additional 119 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in Paylocity by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 7,382 shares of the software maker's stock valued at $1,126,000 after purchasing an additional 122 shares during the period. Institutional investors and hedge funds own 94.76% of the company's stock.
Insiders Place Their Bets
In other Paylocity news, Director Craig Conway sold 3,145 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $156.80, for a total transaction of $493,136.00. Following the transaction, the director owned 2,207 shares of the company's stock, valued at $346,057.60. This trade represents a 58.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Andrew Cappotelli sold 2,550 shares of Paylocity stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $149.83, for a total transaction of $382,066.50. Following the completion of the transaction, the senior vice president owned 44,329 shares in the company, valued at approximately $6,641,814.07. This trade represents a 5.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 54,145 shares of company stock valued at $8,312,067. 19.40% of the stock is currently owned by corporate insiders.
Paylocity Price Performance
Paylocity stock opened at $152.25 on Friday. The stock has a market capitalization of $8.08 billion, a P/E ratio of 30.76 and a beta of 0.45. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $178.91. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09. The firm's 50-day moving average is $136.65 and its two-hundred day moving average is $117.84.
Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The software maker reported $1.84 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.22. Paylocity had a return on equity of 27.02% and a net margin of 15.23%.The company had revenue of $444.73 million for the quarter, compared to analyst estimates of $431.46 million. During the same quarter in the prior year, the company posted $1.56 EPS. The business's revenue for the quarter was up 11.0% compared to the same quarter last year. Equities analysts predict that Paylocity Holding Corporation will post 6.92 earnings per share for the current year.
Wall Street Analysts Forecast Growth
PCTY has been the topic of several recent research reports. Citigroup reaffirmed a "buy" rating on shares of Paylocity in a research note on Thursday, August 6th. Wall Street Zen downgraded shares of Paylocity from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Stephens cut their price objective on Paylocity from $160.00 to $120.00 and set an "equal weight" rating on the stock in a research report on Friday, May 8th. Raymond James Financial set a $140.00 target price on Paylocity in a report on Friday, May 8th. Finally, Truist Financial cut their price target on Paylocity from $180.00 to $165.00 and set a "buy" rating on the stock in a report on Monday, June 29th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $160.53.
View Our Latest Stock Analysis on PCTY
About Paylocity
(
Free Report)
Paylocity NASDAQ: PCTY is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company's integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.
In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.
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