Headlands Technologies LLC purchased a new position in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,594 shares of the software maker's stock, valued at approximately $1,003,000.
Other institutional investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC bought a new stake in Paylocity during the 4th quarter valued at about $30,000. Advisory Services Network LLC purchased a new position in Paylocity in the third quarter worth about $38,000. Optiver Holding B.V. lifted its stake in shares of Paylocity by 5,925.0% in the first quarter. Optiver Holding B.V. now owns 241 shares of the software maker's stock worth $26,000 after buying an additional 237 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Paylocity in the second quarter worth approximately $27,000. Finally, Basecamp Wealth Advisors LLC grew its holdings in shares of Paylocity by 4,250.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker's stock valued at $28,000 after buying an additional 255 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on PCTY. Stephens reduced their price target on shares of Paylocity from $160.00 to $120.00 and set an "equal weight" rating for the company in a research report on Friday, May 8th. UBS Group upped their price objective on Paylocity from $122.00 to $128.00 and gave the company a "neutral" rating in a research report on Wednesday, July 22nd. BTIG Research increased their target price on Paylocity from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Wall Street Zen cut Paylocity from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $165.00 price target on shares of Paylocity in a research note on Wednesday, August 5th. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Paylocity has a consensus rating of "Moderate Buy" and an average price target of $160.53.
View Our Latest Research Report on PCTY
Paylocity Price Performance
NASDAQ PCTY opened at $156.02 on Wednesday. Paylocity Holding Corporation has a 52 week low of $92.99 and a 52 week high of $178.91. The firm has a market capitalization of $8.28 billion, a P/E ratio of 31.52 and a beta of 0.45. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $133.64 and a 200-day moving average price of $116.91.
Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.22. The company had revenue of $444.73 million for the quarter, compared to the consensus estimate of $431.46 million. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The firm's revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.56 earnings per share. Equities research analysts anticipate that Paylocity Holding Corporation will post 6.92 earnings per share for the current year.
Insiders Place Their Bets
In other news, SVP Joshua Scutt sold 4,730 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $149.82, for a total value of $708,648.60. Following the completion of the sale, the senior vice president directly owned 75,729 shares in the company, valued at $11,345,718.78. This represents a 5.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew Cappotelli sold 2,550 shares of the firm's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $149.83, for a total value of $382,066.50. Following the completion of the transaction, the senior vice president directly owned 44,329 shares in the company, valued at approximately $6,641,814.07. This represents 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. In the last ninety days, insiders sold 54,145 shares of company stock valued at $8,312,067. 19.40% of the stock is currently owned by corporate insiders.
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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