NBC Securities Inc. Acquires 3,368 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

NBC Securities Inc. lifted its position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 168,400.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,370 shares of the software maker's stock after buying an additional 3,368 shares during the period. NBC Securities Inc.'s holdings in Paylocity were worth $631,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in Paylocity in the fourth quarter valued at about $29,000. EverSource Wealth Advisors LLC grew its position in shares of Paylocity by 489.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock valued at $54,000 after purchasing an additional 225 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Paylocity by 29.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock worth $55,000 after purchasing an additional 63 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in Paylocity during the 4th quarter worth approximately $72,000. Finally, Huntington National Bank lifted its stake in Paylocity by 37.3% in the fourth quarter. Huntington National Bank now owns 431 shares of the software maker's stock valued at $86,000 after buying an additional 117 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Insider Buying and Selling at Paylocity

In other news, Director Steven I. Sarowitz sold 26,252 shares of the company's stock in a transaction on Monday, March 24th. The shares were 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 in the company, valued at approximately $81,862,200. This represents a 5.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 21.91% of the company's stock.

Paylocity Price Performance

Shares of NASDAQ PCTY traded up $0.56 during mid-day trading on Friday, reaching $194.28. The company had a trading volume of 314,238 shares, compared to its average volume of 452,318. The business's 50-day simple moving average is $189.61 and its 200 day simple moving average is $197.01. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of 49.82, a PEG ratio of 4.49 and a beta of 0.58. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. 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 announced its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.09 by $0.34. Paylocity had a net margin of 14.76% and a return on equity of 22.45%. The business had revenue of $454.55 million for the quarter, compared to analysts' expectations of $441.77 million. During the same period last year, the firm posted $2.21 earnings per share. The firm's quarterly revenue was up 13.3% compared to the same quarter last year. On average, research analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Scotiabank initiated coverage on shares of Paylocity in a research report on Wednesday, April 16th. They set a "sector perform" rating and a $190.00 price objective for the company. BMO Capital Markets lifted their target price on Paylocity from $210.00 to $226.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Citigroup dropped their price objective on Paylocity from $246.00 to $225.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $250.00 price target on shares of Paylocity in a research report on Friday, May 2nd. Finally, Mizuho decreased their price objective on shares of Paylocity from $245.00 to $220.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Paylocity currently has an average rating of "Moderate Buy" and an average target price of $223.00.

Paylocity Company Profile

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.