Nuveen Asset Management LLC lifted its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 11.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 104,381 shares of the software maker's stock after purchasing an additional 10,321 shares during the period. Nuveen Asset Management LLC owned 0.19% of Paylocity worth $20,821,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in PCTY. Certuity LLC acquired a new position in shares of Paylocity during the fourth quarter valued at $232,000. Barclays PLC lifted its stake in Paylocity by 14.3% in the third quarter. Barclays PLC now owns 44,897 shares of the software maker's stock valued at $7,407,000 after buying an additional 5,609 shares during the period. Nisa Investment Advisors LLC lifted its stake in Paylocity by 5,742.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker's stock valued at $1,165,000 after buying an additional 5,742 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Paylocity in the fourth quarter worth about $29,000. Finally, Blue Trust Inc. increased its holdings in shares of Paylocity by 27.7% in the fourth quarter. Blue Trust Inc. now owns 839 shares of the software maker's stock worth $167,000 after acquiring an additional 182 shares in the last quarter. Institutional investors own 94.76% of the company's stock.
Insider Activity
In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the completion of the transaction, the director now directly owns 420,000 shares of the company's stock, valued at approximately $81,862,200. This represents a 5.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 21.91% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
PCTY has been the subject of a number of analyst reports. Raymond James restated an "outperform" rating and issued a $235.00 price target (down from $265.00) on shares of Paylocity in a research note on Friday, May 2nd. JMP Securities reiterated a "market outperform" rating and issued a $270.00 price target on shares of Paylocity in a research note on Tuesday, April 29th. Mizuho decreased their price target on Paylocity from $245.00 to $220.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. BMO Capital Markets boosted their price objective on Paylocity from $210.00 to $226.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, UBS Group lifted their target price on Paylocity from $195.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $223.00.
Read Our Latest Research Report on Paylocity
Paylocity Stock Up 1.3%
PCTY traded up $2.59 during midday trading on Tuesday, reaching $197.44. 395,117 shares of the company were exchanged, compared to its average volume of 461,178. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. The company's fifty day moving average price is $189.46 and its 200 day moving average price is $197.63. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 50.63, a price-to-earnings-growth ratio of 4.49 and a beta of 0.58. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $223.80.
Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, topping analysts' consensus estimates of $2.09 by $0.34. The firm had revenue of $454.55 million during the quarter, compared to analyst estimates of $441.77 million. Paylocity had a return on equity of 22.45% and a net margin of 14.76%. The company's revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.21 EPS. As a group, analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current year.
Paylocity Company 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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