Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 34,604 shares of the software maker's stock, valued at approximately $6,483,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.06% of Paylocity as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of Paylocity by 138.5% during the fourth quarter. FMR LLC now owns 650,599 shares of the software maker's stock worth $129,775,000 after buying an additional 377,835 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Paylocity by 31.7% in the 4th quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker's stock valued at $265,737,000 after buying an additional 320,319 shares during the period. TimesSquare Capital Management LLC bought a new stake in Paylocity in the 1st quarter valued at $37,085,000. Tudor Investment Corp ET AL lifted its position in Paylocity by 6,025.6% in the 4th quarter. Tudor Investment Corp ET AL now owns 125,758 shares of the software maker's stock valued at $25,085,000 after acquiring an additional 123,705 shares in the last quarter. Finally, Conestoga Capital Advisors LLC bought a new stake in Paylocity in the 1st quarter valued at $20,106,000. Institutional investors own 94.76% of the company's stock.
Insider Buying and Selling
In other news, SVP Andrew Cappotelli sold 1,717 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $176.74, for a total value of $303,462.58. Following the sale, the senior vice president directly owned 11,953 shares of the company's stock, valued at $2,112,573.22. This represents a 12.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 21.91% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several research analysts have recently weighed in on PCTY shares. Needham & Company LLC restated a "buy" rating and set a $250.00 price objective on shares of Paylocity in a research note on Friday, July 18th. Citigroup decreased their target price on shares of Paylocity from $225.00 to $218.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. Piper Sandler reaffirmed an "overweight" rating and set a $258.00 price target (up previously from $254.00) on shares of Paylocity in a report on Friday, May 2nd. BMO Capital Markets increased their price objective 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. Finally, Wall Street Zen raised shares of Paylocity from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $220.88.
Read Our Latest Stock Analysis on Paylocity
Paylocity Stock Performance
PCTY stock traded down $3.95 during mid-day trading on Wednesday, hitting $186.41. The company had a trading volume of 582,518 shares, compared to its average volume of 435,530. The stock's fifty day moving average price is $185.03 and its two-hundred day moving average price is $191.91. Paylocity Holding Corporation has a 12 month low of $142.00 and a 12 month high of $223.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market cap of $10.30 billion, a PE ratio of 46.49, a price-to-earnings-growth ratio of 3.74 and a beta of 0.50.
Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, beating the consensus estimate of $2.09 by $0.34. Paylocity had a net margin of 14.65% and a return on equity of 22.90%. The company had revenue of $454.55 million during the quarter, compared to analysts' expectations of $441.77 million. During the same quarter in the previous year, the company earned $2.21 earnings per share. Paylocity's revenue for the quarter was up 13.3% on a year-over-year basis. On average, analysts forecast that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal 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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