Paylocity Holding Corporation $PCTY Shares Purchased by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp increased its position in Paylocity by 50.7%, adding 28,016 shares for a total holding of 83,304 shares worth about $13.27 million at the end of the quarter.
• Paylocity beat quarterly expectations with EPS of $1.85 vs. $1.57 expected and revenue of $416.13 million, up 10.4% year-over-year.
• Institutional investors own 94.76% of the stock; Paylocity has a $5.72 billion market cap, a P/E of 24.97, and a consensus analyst rating of Moderate Buy with an average target of $180.05.

Tudor Investment Corp ET AL increased its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 50.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,304 shares of the software maker's stock after purchasing an additional 28,016 shares during the period. Tudor Investment Corp ET AL owned 0.15% of Paylocity worth $13,268,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PCTY. Allworth Financial LP grew its stake in shares of Paylocity by 88.0% in the 3rd quarter. Allworth Financial LP now owns 282 shares of the software maker's stock valued at $45,000 after buying an additional 132 shares during the period. Swiss Life Asset Management Ltd lifted its holdings in Paylocity by 78.6% in the third quarter. Swiss Life Asset Management Ltd now owns 2,063 shares of the software maker's stock valued at $329,000 after acquiring an additional 908 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Paylocity by 22.1% in the third quarter. JPMorgan Chase & Co. now owns 555,393 shares of the software maker's stock valued at $88,459,000 after acquiring an additional 100,400 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in Paylocity in the third quarter worth approximately $368,000. Finally, Caerus Investment Advisors LLC purchased a new position in Paylocity in the third quarter worth approximately $248,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Paylocity Price Performance

NASDAQ:PCTY opened at $106.14 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.07. The stock's fifty day moving average is $114.33 and its two-hundred day moving average is $137.34. Paylocity Holding Corporation has a 52 week low of $100.50 and a 52 week high of $201.97. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 3.07 and a beta of 0.57.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The software maker reported $1.85 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.28. The business had revenue of $416.13 million during the quarter, compared to analysts' expectations of $408.37 million. Paylocity had a return on equity of 23.44% and a net margin of 14.19%.The company's revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.52 earnings per share. Research analysts anticipate that Paylocity Holding Corporation will post 4.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PCTY shares. Mizuho reduced their target price on Paylocity from $180.00 to $150.00 and set an "outperform" rating on the stock in a research report on Friday, February 6th. Stephens set a $160.00 price target on Paylocity in a report on Friday, January 16th. KeyCorp cut their price objective on Paylocity from $225.00 to $190.00 and set an "overweight" rating for the company in a research report on Friday, February 6th. Barclays set a $146.00 price objective on shares of Paylocity in a report on Friday, February 6th. Finally, Jefferies Financial Group decreased their target price on shares of Paylocity from $180.00 to $150.00 and set a "buy" rating on the stock in a research report on Friday, February 6th. Fifteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Paylocity presently has an average rating of "Moderate Buy" and a consensus price target of $180.05.

Paylocity Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.