Sone Capital Management LLC Acquires New Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Sone Capital Management LLC purchased a new position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 9,765 shares of the software maker's stock, valued at approximately $1,948,000.

A number of other large investors also recently modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Paylocity by 0.5% in the 4th 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 buying an additional 49 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Paylocity by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 19,118 shares of the software maker's stock worth $3,813,000 after buying an additional 51 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Paylocity by 29.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock worth $55,000 after acquiring an additional 63 shares during the period. UMB Bank n.a. increased its holdings in shares of Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock worth $49,000 after acquiring an additional 72 shares during the period. Finally, HighPoint Advisor Group LLC increased its holdings in shares of Paylocity by 5.1% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,559 shares of the software maker's stock worth $326,000 after acquiring an additional 75 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Paylocity Price Performance

Shares of PCTY traded down $2.06 during mid-day trading on Friday, hitting $194.85. The company's stock had a trading volume of 300,569 shares, compared to its average volume of 462,642. The firm has a 50-day moving average price of $189.29 and a 200 day moving average price of $197.96. The stock has a market capitalization of $10.76 billion, a price-to-earnings ratio of 49.96, a PEG ratio of 4.49 and a beta of 0.58. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its earnings results on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, topping the consensus estimate of $2.09 by $0.34. Paylocity had a net margin of 14.76% and a return on equity of 22.45%. The company had revenue of $454.55 million during the quarter, compared to analysts' expectations of $441.77 million. During the same period last year, the company posted $2.21 earnings per share. The business's revenue for the quarter was up 13.3% on a year-over-year basis. On average, research analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on PCTY. BMO Capital Markets raised their target price on shares of Paylocity from $210.00 to $226.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Wall Street Zen raised shares of Paylocity from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Mizuho lowered their target price on shares of Paylocity from $245.00 to $220.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Needham & Company LLC reissued a "buy" rating and set a $250.00 target price on shares of Paylocity in a research note on Friday, May 2nd. Finally, JMP Securities reissued a "market outperform" rating and set a $270.00 target price on shares of Paylocity in a research note on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $223.00.

Insiders Place Their Bets

In related news, Director Steven I. Sarowitz sold 23,243 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $191.00, for a total transaction of $4,439,413.00. Following the completion of the sale, the director now directly owns 470,452 shares in the company, valued at approximately $89,856,332. This trade represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 21.91% of the company's stock.

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.