Paylocity Holding Co. (NASDAQ:PCTY) Shares Bought by Versant Capital Management Inc

Versant Capital Management Inc lifted its position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 415.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,057 shares of the software maker's stock after acquiring an additional 1,658 shares during the quarter. Versant Capital Management Inc's holdings in Paylocity were worth $385,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PCTY. FMR LLC raised its holdings in Paylocity by 138.5% in the 4th quarter. FMR LLC now owns 650,599 shares of the software maker's stock valued at $129,775,000 after acquiring an additional 377,835 shares during the last quarter. Invesco Ltd. boosted its position in shares of Paylocity by 31.7% in the fourth quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker's stock worth $265,737,000 after buying an additional 320,319 shares during the period. American Century Companies Inc. lifted its stake in shares of Paylocity by 190.0% in the fourth quarter. American Century Companies Inc. now owns 349,797 shares of the software maker's stock worth $69,774,000 after acquiring an additional 229,179 shares in the last quarter. Tudor Investment Corp ET AL lifted its stake in shares of Paylocity by 6,025.6% in the fourth quarter. Tudor Investment Corp ET AL now owns 125,758 shares of the software maker's stock worth $25,085,000 after acquiring an additional 123,705 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in shares of Paylocity by 34.5% in the fourth quarter. Point72 Asset Management L.P. now owns 416,531 shares of the software maker's stock worth $83,085,000 after acquiring an additional 106,770 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

Paylocity Stock Performance

Shares of Paylocity stock traded up $0.66 on Friday, reaching $189.88. 596,818 shares of the company were exchanged, compared to its average volume of 455,423. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. The company's 50-day moving average is $189.40 and its two-hundred day moving average is $197.14. The firm has a market cap of $10.49 billion, a price-to-earnings ratio of 48.69, a P/E/G ratio of 4.49 and a beta of 0.58. 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 issued its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.09 by $0.34. Paylocity had a return on equity of 22.45% and a net margin of 14.76%. The business had revenue of $454.55 million during the quarter, compared to analyst estimates of $441.77 million. During the same period in the prior year, the company posted $2.21 EPS. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, research analysts expect that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Needham & Company LLC reiterated a "buy" rating and issued a $250.00 price target on shares of Paylocity in a research note on Friday, May 2nd. UBS Group upped their price objective on Paylocity from $195.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Piper Sandler restated an "overweight" rating and set a $258.00 price objective (up previously from $254.00) on shares of Paylocity in a research note on Friday, May 2nd. Raymond James restated an "outperform" rating and set a $235.00 price objective (down previously from $265.00) on shares of Paylocity in a research note on Friday, May 2nd. Finally, Citigroup cut their price objective on Paylocity from $246.00 to $225.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $223.00.

Insider Buying and Selling

In related news, Director Steven I. Sarowitz sold 26,252 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.91, for a total value of $5,116,777.32. Following the completion of the transaction, the director now directly owns 420,000 shares of the company's stock, valued at $81,862,200. This represents a 5.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 21.91% of the company's stock.

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.