BlackRock Inc. purchased a new position in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,116,664 shares of the software maker's stock, valued at approximately $430,315,000. BlackRock Inc. owned about 7.69% of Paylocity as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Paylocity by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,388 shares of the software maker's stock valued at $25,551,000 after buying an additional 7,594 shares during the period. Focus Partners Wealth increased its holdings in Paylocity by 24.5% in the 1st quarter. Focus Partners Wealth now owns 1,365 shares of the software maker's stock worth $256,000 after acquiring an additional 269 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Paylocity by 537.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 465 shares of the software maker's stock valued at $84,000 after acquiring an additional 392 shares during the period. Marshall Wace LLP raised its stake in Paylocity by 2,782.7% in the 2nd quarter. Marshall Wace LLP now owns 35,688 shares of the software maker's stock valued at $6,466,000 after acquiring an additional 34,450 shares during the period. Finally, Cerity Partners LLC lifted its holdings in Paylocity by 10.0% during the second quarter. Cerity Partners LLC now owns 19,241 shares of the software maker's stock valued at $3,486,000 after purchasing an additional 1,749 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on PCTY. Jefferies Financial Group reiterated a "buy" rating and set a $165.00 target price on shares of Paylocity in a research report on Wednesday, August 5th. Citizens Jmp lowered their price target on shares of Paylocity from $170.00 to $150.00 and set a "market outperform" rating on the stock in a research report on Friday, May 8th. Wall Street Zen cut 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 shares of Paylocity from $160.00 to $120.00 and set an "equal weight" rating for the company in a report on Friday, May 8th. Finally, Zacks Research lowered shares of Paylocity from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $160.53.
Check Out Our Latest Analysis on PCTY
Paylocity Price Performance
PCTY stock opened at $152.24 on Wednesday. The firm has a 50 day moving average of $128.01 and a 200-day moving average of $115.47. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a 12 month low of $92.99 and a 12 month high of $181.97. The firm has a market capitalization of $8.08 billion, a P/E ratio of 30.76 and a beta of 0.47.
Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.84 EPS for the quarter, beating the consensus estimate of $1.62 by $0.22. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The company had revenue of $444.73 million during the quarter, compared to analysts' expectations of $431.46 million. During the same quarter in the previous year, the company earned $1.56 earnings per share. Paylocity's revenue for the quarter was up 11.0% on a year-over-year basis. As a group, sell-side analysts predict that Paylocity Holding Corporation will post 6.86 earnings per share for the current fiscal year.
Insider Activity
In related news, CFO Ryan Glenn sold 3,345 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $149.75, for a total transaction of $500,913.75. Following the completion of the transaction, the chief financial officer directly owned 122,563 shares in the company, valued at $18,353,809.25. The trade was a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew Cappotelli sold 2,550 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $149.83, for a total value of $382,066.50. Following the transaction, the senior vice president owned 44,329 shares of the company's stock, valued at approximately $6,641,814.07. The trade was a 5.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 30,300 shares of company stock valued at $4,553,607 over the last 90 days. Company insiders own 19.40% of the company's stock.
Paylocity Profile
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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.
Further Reading
Want to see what other hedge funds are holding PCTY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paylocity Holding Corporation (NASDAQ:PCTY - Free Report).
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