Sovereign s Capital Management LLC acquired a new stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 21,279 shares of the software maker's stock, valued at approximately $4,245,000. Paylocity accounts for 2.7% of Sovereign s Capital Management LLC's portfolio, making the stock its 9th biggest position.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PCTY. SBI Securities Co. Ltd. bought a new position in shares of Paylocity in the fourth quarter valued at about $29,000. UMB Bank n.a. raised its holdings in shares of Paylocity by 41.1% in the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock valued at $49,000 after buying an additional 72 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Paylocity by 489.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock worth $54,000 after purchasing an additional 225 shares during the period. Steward Partners Investment Advisory LLC increased its position in Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock worth $55,000 after purchasing an additional 63 shares during the period. Finally, Johnson Financial Group Inc. acquired a new stake in Paylocity in the fourth quarter worth about $72,000. 94.76% of the stock is owned by institutional investors.
Insider Transactions at Paylocity
In other news, Director Steven I. Sarowitz sold 23,243 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $191.00, for a total transaction of $4,439,413.00. Following the sale, the director now owns 470,452 shares in the company, valued at $89,856,332. This represents a 4.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 21.91% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently commented on PCTY shares. Mizuho lowered their price objective on Paylocity from $245.00 to $220.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Stifel Nicolaus decreased their target price on Paylocity from $250.00 to $235.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Barclays boosted their target price on Paylocity from $204.00 to $209.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. KeyCorp decreased their target price on Paylocity from $250.00 to $220.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Piper Sandler restated an "overweight" rating and set a $258.00 target price (up from $254.00) on shares of Paylocity in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $223.00.
View Our Latest Stock Report on Paylocity
Paylocity Stock Down 1.0%
NASDAQ PCTY traded down $2.06 during trading on Friday, hitting $194.85. The stock had a trading volume of 300,569 shares, compared to its average volume of 462,642. The company has a market capitalization of $10.76 billion, a PE ratio of 49.96, a P/E/G ratio of 4.49 and a beta of 0.58. The company's 50-day moving average price is $189.29 and its two-hundred day moving average price is $197.96. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $223.80.
Paylocity (NASDAQ:PCTY - Get Free Report) last released its earnings results on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, beating the consensus estimate of $2.09 by $0.34. The firm had revenue of $454.55 million for the quarter, compared to analysts' expectations of $441.77 million. Paylocity had a return on equity of 22.45% and a net margin of 14.76%. The business's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.21 EPS. As a group, sell-side analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current year.
About Paylocity
(
Free Report)
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.
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