Sphera Management Technology Funds Ltd acquired a new stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 3,230 shares of the software maker's stock, valued at approximately $644,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Certuity LLC purchased a new position in Paylocity in the 4th quarter worth $232,000. Barclays PLC raised its stake in Paylocity by 14.3% in the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker's stock worth $7,407,000 after acquiring an additional 5,609 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Paylocity by 5,742.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker's stock worth $1,165,000 after acquiring an additional 5,742 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Paylocity in the 4th quarter worth $29,000. Finally, Park Avenue Securities LLC raised its stake in Paylocity by 63.3% in the 4th quarter. Park Avenue Securities LLC now owns 5,590 shares of the software maker's stock worth $1,115,000 after acquiring an additional 2,167 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.
Analyst Ratings Changes
PCTY has been the topic of several analyst reports. Barclays increased their price target on Paylocity from $204.00 to $209.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Mizuho reduced their price objective on Paylocity from $245.00 to $220.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Wall Street Zen upgraded Paylocity from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Citigroup reduced their price objective on Paylocity from $246.00 to $225.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Finally, Stifel Nicolaus reduced their price objective on Paylocity from $250.00 to $235.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Paylocity currently has a consensus rating of "Moderate Buy" and an average target price of $223.00.
View Our Latest Stock Report on Paylocity
Insider Buying and Selling
In other news, Director Steven I. Sarowitz sold 26,252 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was 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 in the company, valued at $81,862,200. The trade was a 5.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.91% of the stock is currently owned by insiders.
Paylocity Price Performance
PCTY stock traded up $0.37 during trading on Thursday, hitting $196.91. The stock had a trading volume of 405,399 shares, compared to its average volume of 462,820. 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 twelve month low of $129.94 and a twelve month high of $223.80. The stock has a market capitalization of $10.88 billion, a P/E ratio of 50.49, a PEG 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.
Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.34. Paylocity had a return on equity of 22.45% and a net margin of 14.76%. The company had revenue of $454.55 million for the quarter, compared to analysts' expectations of $441.77 million. During the same period in the previous year, the firm posted $2.21 EPS. Paylocity's revenue was up 13.3% compared to the same quarter last year. As a group, research analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.
Paylocity Profile
(
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.
See Also
Before you consider Paylocity, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Paylocity wasn't on the list.
While Paylocity currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Spring 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
