Fred Alger Management LLC Boosts Position in Paylocity Holding Co. (NASDAQ:PCTY)

Fred Alger Management LLC lifted its holdings in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 4.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 65,528 shares of the software maker's stock after purchasing an additional 3,078 shares during the period. Fred Alger Management LLC owned about 0.12% of Paylocity worth $13,071,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PCTY. FMR LLC boosted its position in shares of Paylocity by 138.5% in the fourth quarter. FMR LLC now owns 650,599 shares of the software maker's stock worth $129,775,000 after purchasing an additional 377,835 shares during the period. 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 purchasing an additional 320,319 shares during the period. American Century Companies Inc. boosted its position 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 purchasing an additional 229,179 shares during the period. Tudor Investment Corp ET AL boosted its position 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 purchasing an additional 123,705 shares during the period. Finally, Anomaly Capital Management LP bought a new position in shares of Paylocity in the fourth quarter worth approximately $19,105,000. Institutional investors own 94.76% of the company's stock.

Paylocity Trading Up 0.6%

NASDAQ PCTY traded up $1.07 during trading hours on Friday, hitting $194.61. 345,972 shares of the company were exchanged, compared to its average volume of 467,013. The stock has a 50-day moving average price of $187.64 and a 200 day moving average price of $197.08. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80. The stock has a market cap of $10.75 billion, a PE ratio of 49.90, a price-to-earnings-growth ratio of 4.49 and a beta of 0.58.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, topping the consensus estimate of $2.09 by $0.34. The company had revenue of $454.55 million during the quarter, compared to analyst estimates of $441.77 million. Paylocity had a net margin of 14.76% and a return on equity of 22.45%. Paylocity's quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.21 earnings per share. Analysts forecast that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PCTY has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price target on shares of Paylocity from $210.00 to $226.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. UBS Group increased their price objective on shares of Paylocity from $195.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Mizuho cut their price objective on shares of Paylocity from $245.00 to $220.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. JMP Securities reaffirmed a "market outperform" rating and set a $270.00 price objective on shares of Paylocity in a report on Tuesday, April 29th. Finally, Jefferies Financial Group cut their price objective on shares of Paylocity from $255.00 to $235.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $223.00.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of Paylocity stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.91, for a total transaction 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. The trade was a 5.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 21.91% of the stock is owned by insiders.

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.