Deutsche Bank AG Acquires 6,670 Shares of Paylocity Holding Corporation (NASDAQ:PCTY)

Deutsche Bank AG increased its holdings in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,994 shares of the software maker's stock after acquiring an additional 6,670 shares during the period. Deutsche Bank AG owned about 0.31% of Paylocity worth $32,221,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PCTY. Associated Banc Corp increased its holdings in shares of Paylocity by 4.5% during the 1st quarter. Associated Banc Corp now owns 1,207 shares of the software maker's stock valued at $226,000 after acquiring an additional 52 shares during the last quarter. TCTC Holdings LLC increased its holdings in shares of Paylocity by 115.9% during the 1st quarter. TCTC Holdings LLC now owns 149 shares of the software maker's stock valued at $28,000 after acquiring an additional 80 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Paylocity by 0.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 12,200 shares of the software maker's stock valued at $2,286,000 after acquiring an additional 100 shares during the last quarter. Securian Asset Management Inc. increased its holdings in shares of Paylocity by 3.1% during the 1st quarter. Securian Asset Management Inc. now owns 3,355 shares of the software maker's stock valued at $629,000 after acquiring an additional 100 shares during the last quarter. Finally, Chicago Capital LLC increased its holdings in shares of Paylocity by 1.4% during the 1st quarter. Chicago Capital LLC now owns 7,661 shares of the software maker's stock valued at $1,435,000 after acquiring an additional 106 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Paylocity Stock Performance

Shares of PCTY stock traded down $2.09 during mid-day trading on Thursday, reaching $171.64. The stock had a trading volume of 647,514 shares, compared to its average volume of 590,473. The firm's 50 day simple moving average is $181.85 and its 200 day simple moving average is $190.43. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.13. Paylocity Holding Corporation has a one year low of $150.87 and a one year high of $223.80. The firm has a market cap of $9.47 billion, a PE ratio of 42.80, a P/E/G ratio of 3.44 and a beta of 0.54.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its earnings results on Tuesday, August 5th. The software maker reported $1.56 EPS for the quarter, topping the consensus estimate of $1.38 by $0.18. The business had revenue of $400.74 million during the quarter, compared to the consensus estimate of $388.25 million. Paylocity had a return on equity of 22.08% and a net margin of 14.24%. Paylocity's revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the company earned $1.48 EPS. On average, analysts forecast that Paylocity Holding Corporation will post 4.36 EPS for the current year.

Insider Activity at Paylocity

In related news, SVP Andrew Cappotelli sold 1,717 shares of the firm's stock in a transaction that occurred on 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 transaction, the senior vice president owned 11,953 shares in the company, valued at $2,112,573.22. This trade represents a 12.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 21.91% of the stock is owned by company insiders.

Analyst Ratings Changes

PCTY has been the topic of a number of analyst reports. Jefferies Financial Group lowered their price objective on Paylocity from $235.00 to $225.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Scotiabank initiated coverage on Paylocity in a report on Wednesday, April 16th. They set a "sector perform" rating and a $190.00 price objective on the stock. Needham & Company LLC reissued a "buy" rating and set a $250.00 price objective on shares of Paylocity in a report on Friday, July 18th. JMP Securities restated a "market outperform" rating and set a $270.00 target price on shares of Paylocity in a research note on Tuesday, April 29th. Finally, KeyCorp increased their target price on Paylocity from $220.00 to $225.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Paylocity presently has an average rating of "Moderate Buy" and a consensus target price of $222.71.

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.