Vanguard Group Inc. Has $807.97 Million Holdings in Paylocity Holding Corporation (NASDAQ:PCTY)

Vanguard Group Inc. lifted its holdings in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 7.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,312,832 shares of the software maker's stock after acquiring an additional 283,430 shares during the period. Vanguard Group Inc. owned approximately 7.81% of Paylocity worth $807,966,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of PCTY. TCTC Holdings LLC grew its stake in shares of Paylocity by 115.9% in the first quarter. TCTC Holdings LLC now owns 149 shares of the software maker's stock valued at $28,000 after acquiring an additional 80 shares in the last quarter. USA Financial Formulas acquired a new stake in Paylocity during the first quarter worth about $29,000. Hughes Financial Services LLC acquired a new stake in Paylocity during the first quarter worth about $48,000. Bayforest Capital Ltd grew its stake in Paylocity by 69.1% during the first quarter. Bayforest Capital Ltd now owns 296 shares of the software maker's stock worth $55,000 after buying an additional 121 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in Paylocity during the fourth quarter worth about $72,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PCTY has been the topic of a number of analyst reports. BMO Capital Markets increased their price objective on shares of Paylocity from $226.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Scotiabank initiated coverage on shares of Paylocity in a research note on Wednesday, April 16th. They set a "sector perform" rating and a $190.00 price objective on the stock. Stifel Nicolaus reduced their price objective on shares of Paylocity from $250.00 to $235.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. JMP Securities reiterated a "market outperform" rating and set a $270.00 price objective on shares of Paylocity in a research note on Tuesday, April 29th. Finally, Citigroup reduced their price objective on shares of Paylocity from $225.00 to $218.00 and set a "buy" rating on the stock in a research note on Monday, July 21st. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $222.71.

Insider Transactions at Paylocity

In related news, SVP Andrew Cappotelli sold 1,717 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $176.74, for a total value of $303,462.58. Following the completion of the transaction, the senior vice president owned 11,953 shares in the company, valued at $2,112,573.22. This trade represents a 12.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 21.91% of the stock is currently owned by company insiders.

Paylocity Trading Down 1.2%

NASDAQ PCTY traded down $2.09 during trading hours on Thursday, reaching $171.64. The company's stock had a trading volume of 647,514 shares, compared to its average volume of 590,473. The firm has a fifty day simple moving average of $181.85 and a 200-day simple moving average of $190.43. The stock has a market cap of $9.47 billion, a P/E ratio of 42.80, a P/E/G ratio of 3.44 and a beta of 0.54. Paylocity Holding Corporation has a 52 week low of $150.87 and a 52 week high of $223.80. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 1.14.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The software maker reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.18. The business had revenue of $400.74 million during the quarter, compared to analyst estimates of $388.25 million. Paylocity had a net margin of 14.24% and a return on equity of 22.08%. The firm's quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the business earned $1.48 EPS. Equities analysts forecast that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

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.