LMR Partners LLP increased its position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 73.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,007 shares of the software maker's stock after acquiring an additional 25,000 shares during the quarter. LMR Partners LLP owned about 0.11% of Paylocity worth $11,770,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in shares of Paylocity during the fourth quarter worth $29,000. UMB Bank n.a. raised its stake in Paylocity by 41.1% during the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock worth $49,000 after buying an additional 72 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Paylocity by 489.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock worth $54,000 after acquiring an additional 225 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Paylocity by 29.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock valued at $55,000 after purchasing an additional 63 shares during the period. Finally, Johnson Financial Group Inc. bought a new stake in Paylocity during the 4th quarter worth approximately $72,000. Institutional investors and hedge funds own 94.76% of the company's stock.
Insiders Place Their Bets
In other news, Director Steven I. Sarowitz sold 26,252 shares of the firm's stock in a transaction dated 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 sale, the director now owns 420,000 shares in the company, valued at approximately $81,862,200. This trade represents a 5.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 21.91% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on PCTY shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $250.00 price target on shares of Paylocity in a research note on Friday, May 2nd. Citigroup reduced their target price on shares of Paylocity from $246.00 to $225.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Mizuho dropped their price target on Paylocity from $245.00 to $220.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Jefferies Financial Group dropped their target price on Paylocity from $255.00 to $235.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, Raymond James restated an "outperform" rating and issued a $235.00 target price (down previously from $265.00) on shares of Paylocity in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $223.00.
View Our Latest Report on PCTY
Paylocity Stock Performance
Shares of PCTY stock traded up $1.83 on Friday, reaching $201.04. The stock had a trading volume of 401,076 shares, compared to its average volume of 462,139. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $223.80. The firm has a market capitalization of $11.10 billion, a price-to-earnings ratio of 51.55, a P/E/G ratio of 4.49 and a beta of 0.58. The firm's 50-day moving average is $188.04 and its two-hundred day moving average is $197.45. 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 (NASDAQ:PCTY - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.34. Paylocity had a return on equity of 22.45% and a net margin of 14.76%. The firm had revenue of $454.55 million for the quarter, compared to analyst estimates of $441.77 million. During the same quarter in the prior year, the company earned $2.21 earnings per share. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. On average, research analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.
Paylocity Profile
(
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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