Burney Co. Has $1.08 Million Stake in Paylocity Holding Corporation $PCTY

Key Points

• Burney Co. trimmed its stake in Paylocity by 76.3% in Q4, selling 22,681 shares and now holds 7,050 shares worth about $1.075 million.
• Paylocity beat Q4 expectations with EPS of $1.85 versus $1.57 and revenue of $416.13 million (up 10.4% year-over-year), and analysts project roughly $4.36 in EPS for the current year.
• Institutional ownership is high at 94.76%, while analyst sentiment is mixed — MarketBeat gives Paylocity a Moderate Buy rating with an average price target of $180.05 despite recent target cuts.

Burney Co. trimmed its stake in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 76.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,050 shares of the software maker's stock after selling 22,681 shares during the period. Burney Co.'s holdings in Paylocity were worth $1,075,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PCTY. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in 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 purchasing an additional 7,594 shares during the period. Focus Partners Wealth increased its holdings in Paylocity by 24.5% in the first quarter. Focus Partners Wealth now owns 1,365 shares of the software maker's stock valued at $256,000 after purchasing an additional 269 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Paylocity by 537.0% in the second quarter. EverSource Wealth Advisors LLC now owns 465 shares of the software maker's stock valued at $84,000 after purchasing an additional 392 shares during the period. Marshall Wace LLP increased its holdings in Paylocity by 2,782.7% in the second quarter. Marshall Wace LLP now owns 35,688 shares of the software maker's stock valued at $6,466,000 after purchasing an additional 34,450 shares during the period. Finally, Cerity Partners LLC increased its holdings in Paylocity by 10.0% in 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 period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Price Performance

PCTY stock opened at $99.49 on Tuesday. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $201.97. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.07. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 2.75 and a beta of 0.57. The company's fifty day simple moving average is $109.82 and its 200 day simple moving average is $134.61.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The software maker reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.28. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. The firm had revenue of $416.13 million during the quarter, compared to the consensus estimate of $408.37 million. During the same period in the previous year, the firm posted $1.52 earnings per share. The business's revenue was up 10.4% compared to the same quarter last year. On average, analysts expect that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. BTIG Research dropped their target price on shares of Paylocity from $180.00 to $150.00 and set a "buy" rating on the stock in a report on Friday, February 6th. BMO Capital Markets dropped their target price on shares of Paylocity from $185.00 to $150.00 and set an "outperform" rating on the stock in a report on Friday, February 6th. Stephens set a $160.00 target price on shares of Paylocity in a report on Friday, January 16th. Citigroup restated an "outperform" rating on shares of Paylocity in a report on Friday, February 6th. Finally, Wall Street Zen lowered shares of Paylocity from a "buy" rating to a "hold" rating in a report on Sunday, February 22nd. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Paylocity currently has an average rating of "Moderate Buy" and an average price target of $180.05.

Paylocity Profile

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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