Victory Capital Management Inc. lifted its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 12.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 177,979 shares of the software maker's stock after buying an additional 19,966 shares during the period. Victory Capital Management Inc. owned approximately 0.32% of Paylocity worth $33,343,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the business. USA Financial Formulas acquired a new stake in shares of Paylocity in the 1st quarter valued at about $29,000. Hughes Financial Services LLC acquired a new position in shares of Paylocity in the 1st quarter valued at $48,000. Johnson Financial Group Inc. purchased a new stake in Paylocity in the 4th quarter worth about $72,000. Huntington National Bank raised its holdings in shares of Paylocity by 37.3% during the fourth quarter. Huntington National Bank now owns 431 shares of the software maker's stock worth $86,000 after acquiring an additional 117 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in shares of Paylocity by 89.1% during the 1st quarter. UMB Bank n.a. now owns 467 shares of the software maker's stock worth $87,000 after purchasing an additional 220 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.
Paylocity Trading Up 0.9%
Shares of NASDAQ:PCTY traded up $1.61 during midday trading on Thursday, hitting $188.14. The company had a trading volume of 288,754 shares, compared to its average volume of 450,571. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.20. The stock has a market cap of $10.39 billion, a price-to-earnings ratio of 46.92, a PEG ratio of 3.66 and a beta of 0.50. The firm has a fifty day simple moving average of $185.99 and a 200 day simple moving average of $192.09. Paylocity Holding Corporation has a 12 month low of $141.13 and a 12 month high of $223.80.
Paylocity (NASDAQ:PCTY - Get Free Report) last released its earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.34. The business had revenue of $454.55 million during the quarter, compared to analysts' expectations of $441.77 million. Paylocity had a net margin of 14.65% and a return on equity of 22.90%. The firm's revenue was up 13.3% on a year-over-year basis. During the same period last year, the business earned $2.21 earnings per share. On average, analysts predict that Paylocity Holding Corporation will post 4.36 EPS for the current year.
Wall Street Analyst Weigh In
Several brokerages have commented on PCTY. Wall Street Zen raised Paylocity from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. JMP Securities restated a "market outperform" rating and set a $270.00 price target on shares of Paylocity in a research note on Tuesday, April 29th. 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. Scotiabank assumed coverage on Paylocity in a research note on Wednesday, April 16th. They issued a "sector perform" rating and a $190.00 price target on the stock. Finally, Barclays cut their price objective on Paylocity from $209.00 to $190.00 and set an "equal weight" rating for the company in a report on Monday. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Paylocity currently has a consensus rating of "Moderate Buy" and an average price target of $221.76.
Get Our Latest Research Report on PCTY
Insider Activity
In related news, SVP Andrew Cappotelli sold 1,717 shares of the business's stock in a transaction 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 transaction, the senior vice president owned 11,953 shares in the company, valued at $2,112,573.22. The trade was a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.91% of the stock is owned by corporate insiders.
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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