Two Sigma Investments LP Buys 20,391 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Two Sigma Investments LP raised its holdings in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 95.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,832 shares of the software maker's stock after purchasing an additional 20,391 shares during the period. Two Sigma Investments LP owned approximately 0.08% of Paylocity worth $8,344,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in Paylocity during the fourth quarter valued at approximately $29,000. UMB Bank n.a. raised its holdings in shares of Paylocity by 41.1% during the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock worth $49,000 after buying an additional 72 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Paylocity by 489.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock worth $54,000 after buying an additional 225 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock valued at $55,000 after buying an additional 63 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new position in Paylocity in the fourth quarter valued at about $72,000. Institutional investors and hedge funds own 94.76% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on PCTY shares. Needham & Company LLC reissued a "buy" rating and issued a $250.00 target price on shares of Paylocity in a report on Friday, May 2nd. Piper Sandler reissued an "overweight" rating and issued a $258.00 price objective (up previously from $254.00) on shares of Paylocity in a research note on Friday, May 2nd. JMP Securities reaffirmed a "market outperform" rating and set a $270.00 target price on shares of Paylocity in a research note on Tuesday, April 29th. Barclays upped their price target on shares of Paylocity from $204.00 to $209.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Finally, Jefferies Financial Group cut their price objective on Paylocity from $255.00 to $235.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $223.00.

Insider Buying and Selling

In other news, Director Steven I. Sarowitz sold 23,243 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $191.00, for a total value of $4,439,413.00. Following the sale, the director now directly owns 470,452 shares in the company, valued at $89,856,332. The trade was a 4.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 21.91% of the stock is owned by company insiders.

Paylocity Stock Performance

Shares of Paylocity stock traded up $0.07 during trading on Friday, hitting $189.29. 77,500 shares of the company's stock traded hands, compared to its average volume of 456,739. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $10.45 billion, a P/E ratio of 48.66, a PEG ratio of 4.49 and a beta of 0.58. The business has a 50-day simple moving average of $189.63 and a 200-day simple moving average of $197.60. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share 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 the consensus estimate of $441.77 million. Paylocity had a return on equity of 22.45% and a net margin of 14.76%. Paylocity's revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.21 earnings per share. As a group, analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current year.

Paylocity 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.