Riverbridge Partners LLC Has $131.21 Million Stake in Paylocity Holding Corporation (NASDAQ:PCTY)

Riverbridge Partners LLC lessened its holdings in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 700,362 shares of the software maker's stock after selling 21,160 shares during the quarter. Paylocity accounts for approximately 2.1% of Riverbridge Partners LLC's investment portfolio, making the stock its 11th biggest position. Riverbridge Partners LLC owned about 1.25% of Paylocity worth $131,206,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PCTY. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Paylocity by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker's stock worth $1,916,000 after acquiring an additional 49 shares during the last quarter. Bessemer Group Inc. lifted its stake in Paylocity by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 19,118 shares of the software maker's stock valued at $3,813,000 after purchasing an additional 51 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Paylocity by 29.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock valued at $55,000 after purchasing an additional 63 shares during the last quarter. HighPoint Advisor Group LLC lifted its stake in Paylocity by 5.1% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,559 shares of the software maker's stock valued at $326,000 after purchasing an additional 75 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Paylocity by 2.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,156 shares of the software maker's stock valued at $630,000 after purchasing an additional 77 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Insiders Place Their Bets

In related news, Director Steven I. Sarowitz sold 26,252 shares of the 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 transaction, the director now directly owns 420,000 shares of the company's stock, valued at $81,862,200. This represents a 5.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 21.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PCTY shares. JMP Securities reissued a "market outperform" rating and issued a $270.00 price objective on shares of Paylocity in a research note on Tuesday, April 29th. Wall Street Zen raised shares of Paylocity from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Jefferies Financial Group reduced their price target on Paylocity from $255.00 to $235.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Stifel Nicolaus reduced their price target on Paylocity from $250.00 to $235.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Scotiabank initiated coverage on shares of Paylocity in a report on Wednesday, April 16th. They issued a "sector perform" rating and a $190.00 price objective for the company. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $224.75.

Paylocity Trading Up 0.2%

Shares of NASDAQ:PCTY traded up $0.33 during trading on Friday, reaching $176.78. The stock had a trading volume of 891,158 shares, compared to its average volume of 454,531. The firm's fifty day moving average is $189.49 and its 200 day moving average is $195.08. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.13 and a current ratio of 1.13. Paylocity Holding Corporation has a 52 week low of $129.94 and a 52 week high of $223.80. The stock has a market cap of $9.76 billion, a price-to-earnings ratio of 44.08, a P/E/G ratio of 3.60 and a beta of 0.53.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, beating analysts' consensus estimates of $2.09 by $0.34. The company had revenue of $454.55 million for the quarter, compared to analyst estimates of $441.77 million. Paylocity had a net margin of 14.65% and a return on equity of 22.90%. The company's quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.21 EPS. As a group, equities analysts forecast that Paylocity Holding Corporation will post 4.36 EPS for the current fiscal year.

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.