Paylocity Holding Corporation (NASDAQ:PCTY) Shares Bought by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC increased its stake in Paylocity Holding Corporation by 72.3%, now owning a total of 18,889 shares valued at approximately $3.54 million.
• Insider trading activity saw SVP Andrew Cappotelli selling 1,717 shares at an average price of $176.74, representing a 12.56% decrease in his ownership of the stock.
• Analysts set a new price target for Paylocity with the consensus rating of "Moderate Buy" and an average target price of $223.19, reflecting positive growth expectations.

Natixis Advisors LLC increased its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 72.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,889 shares of the software maker's stock after buying an additional 7,925 shares during the quarter. Natixis Advisors LLC's holdings in Paylocity were worth $3,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. New York State Teachers Retirement System boosted its position in Paylocity by 7.3% in the first quarter. New York State Teachers Retirement System now owns 40,154 shares of the software maker's stock valued at $7,522,000 after buying an additional 2,724 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Paylocity by 41.9% during the first quarter. GAMMA Investing LLC now owns 545 shares of the software maker's stock worth $102,000 after purchasing an additional 161 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Paylocity by 6.5% in the first quarter. Janney Montgomery Scott LLC now owns 6,293 shares of the software maker's stock valued at $1,179,000 after purchasing an additional 383 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Paylocity during the 1st quarter worth about $359,000. Finally, UMB Bank n.a. raised its stake 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 valued at $87,000 after buying an additional 220 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Paylocity

In related news, SVP Andrew Cappotelli sold 1,717 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $176.74, for a total transaction of $303,462.58. Following the completion of the sale, the senior vice president directly owned 11,953 shares of the company's stock, valued at approximately $2,112,573.22. This trade represents a 12.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.91% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PCTY has been the topic of several analyst reports. Jefferies Financial Group dropped their target price on Paylocity from $235.00 to $225.00 and set a "buy" rating on the stock in a report on Wednesday. Mizuho cut their target price on shares of Paylocity from $245.00 to $220.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Wall Street Zen raised shares of Paylocity from a "hold" rating to a "buy" rating in a report on Monday, May 12th. UBS Group upped their price objective on shares of Paylocity from $201.00 to $202.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, JMP Securities reissued a "market outperform" rating and set a $270.00 target price on shares of Paylocity in a research note on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $223.19.

Paylocity Trading Down 3.7%

NASDAQ:PCTY traded down $6.75 on Friday, hitting $176.94. The stock had a trading volume of 661,959 shares, compared to its average volume of 479,838. The company has a fifty day moving average price of $183.48 and a two-hundred day moving average price of $191.29. The stock has a market cap of $9.77 billion, a price-to-earnings ratio of 44.12, a PEG ratio of 3.70 and a beta of 0.54. The company has a quick ratio of 1.13, a current ratio of 1.14 and a debt-to-equity ratio of 0.13. Paylocity Holding Corporation has a 1-year low of $146.02 and a 1-year high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The software maker reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.18. The firm had revenue of $400.74 million for the quarter, compared to analysts' expectations of $388.25 million. Paylocity had a return on equity of 22.08% and a net margin of 14.24%. The firm's quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.48 earnings per share. Equities research analysts expect that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

About Paylocity

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.