46,059 Shares in Paylocity Holding Corporation $PCTY Acquired by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board has acquired a new position in Paylocity Holding Corporation, purchasing 46,059 shares valued at approximately $8.63 million.
• Corporate insiders, including SVP Andrew Cappotelli, are also selling shares; Cappotelli sold 1,717 shares recently, decreasing his position by 12.56%.
• Analysts have set mixed price targets for Paylocity, with consensus reaching an average price target of $222.71 and 14 analysts recommending a buy rating.

Public Sector Pension Investment Board purchased a new stake in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 46,059 shares of the software maker's stock, valued at approximately $8,629,000. Public Sector Pension Investment Board owned about 0.08% of Paylocity at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Franklin Resources Inc. boosted its holdings in shares of Paylocity by 11.4% in the 4th quarter. Franklin Resources Inc. now owns 1,710 shares of the software maker's stock valued at $341,000 after buying an additional 175 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Paylocity during the fourth quarter worth $6,818,000. Barclays PLC lifted its position in Paylocity by 18.7% during the fourth quarter. Barclays PLC now owns 53,306 shares of the software maker's stock worth $10,632,000 after purchasing an additional 8,409 shares during the period. Mariner LLC lifted its position in Paylocity by 4.2% during the fourth quarter. Mariner LLC now owns 7,192 shares of the software maker's stock worth $1,435,000 after purchasing an additional 291 shares during the period. Finally, Guggenheim Capital LLC bought a new stake in Paylocity during the fourth quarter worth $697,000. 94.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PCTY has been the topic of several research reports. KeyCorp boosted their price target on Paylocity from $220.00 to $225.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Cantor Fitzgerald assumed coverage on Paylocity in a research note on Thursday. They issued an "overweight" rating and a $215.00 price target on the stock. Citigroup lowered their target price on Paylocity from $225.00 to $218.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. Stifel Nicolaus lowered their price target on Paylocity from $250.00 to $235.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Barclays lowered their price target on Paylocity from $209.00 to $190.00 and set an "equal weight" rating for the company in a research report on Monday, July 21st. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $222.71.

Paylocity Price Performance

NASDAQ PCTY traded up $6.59 during trading hours on Monday, hitting $178.55. The company had a trading volume of 353,517 shares, compared to its average volume of 483,183. Paylocity Holding Corporation has a 52 week low of $150.87 and a 52 week high of $223.80. The firm has a 50 day simple moving average of $181.40 and a 200 day simple moving average of $190.00. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $9.85 billion, a price-to-earnings ratio of 44.46, a PEG ratio of 3.40 and a beta of 0.54.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued 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. Paylocity had a return on equity of 22.08% and a net margin of 14.24%. The business had revenue of $400.74 million during the quarter, compared to the consensus estimate of $388.25 million. During the same quarter last year, the company earned $1.48 EPS. The firm's revenue was up 12.2% compared to the same quarter last year. Equities research analysts expect that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

Insider Activity

In other news, SVP Andrew Cappotelli sold 1,717 shares of Paylocity 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 owned 11,953 shares in the company, valued at approximately $2,112,573.22. This trade represents a 12.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 21.91% of the company's stock.

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.