Cooper Investors PTY Ltd. cut its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 30.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,272 shares of the software maker's stock after selling 16,110 shares during the quarter. Cooper Investors PTY Ltd. owned about 0.07% of Paylocity worth $6,983,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in Paylocity during the fourth quarter worth about $29,000. Charles Schwab Investment Management Inc. boosted its position in shares of Paylocity by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 285,556 shares of the software maker's stock worth $56,960,000 after purchasing an additional 3,130 shares during the period. UMB Bank n.a. boosted its position in shares of Paylocity by 89.1% during the 1st quarter. UMB Bank n.a. now owns 467 shares of the software maker's stock worth $87,000 after purchasing an additional 220 shares during the period. Vanguard Group Inc. boosted its position in shares of Paylocity by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker's stock worth $803,745,000 after purchasing an additional 46,183 shares during the period. Finally, Private Advisor Group LLC purchased a new position in shares of Paylocity during the 4th quarter worth approximately $246,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently commented on PCTY. Jefferies Financial Group lowered their price target on Paylocity from $255.00 to $235.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Wall Street Zen upgraded Paylocity from a "hold" rating to a "buy" rating in a report on Monday, May 12th. JMP Securities restated a "market outperform" rating and set a $270.00 target price on shares of Paylocity in a report on Tuesday, April 29th. Needham & Company LLC reissued a "buy" rating and issued a $250.00 price objective on shares of Paylocity in a research note on Friday, May 2nd. Finally, Raymond James Financial reissued an "outperform" rating and issued a $235.00 price objective (down previously from $265.00) on shares of Paylocity in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $224.75.
View Our Latest Stock Report on PCTY
Paylocity Stock Up 2.7%
Shares of Paylocity stock traded up $4.82 during trading on Tuesday, hitting $182.62. 560,184 shares of the stock were exchanged, compared to its average volume of 454,856. The stock has a market cap of $10.09 billion, a price-to-earnings ratio of 45.54, a price-to-earnings-growth ratio of 3.62 and a beta of 0.53. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.13 and a quick ratio of 1.13. The firm's 50-day moving average price is $189.21 and its 200 day moving average price is $194.74. Paylocity Holding Corporation has a 12-month low of $129.94 and a 12-month high of $223.80.
Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.09 by $0.34. The company had revenue of $454.55 million during the quarter, compared to the consensus estimate of $441.77 million. Paylocity had a return on equity of 22.90% and a net margin of 14.65%. Paylocity's revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 EPS. As a group, analysts forecast that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.
Paylocity Profile
(
Free Report)
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.
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