MetLife Investment Management LLC grew its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 8.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,422 shares of the software maker's stock after acquiring an additional 2,017 shares during the quarter. MetLife Investment Management LLC's holdings in Paylocity were worth $5,270,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Certuity LLC bought a new stake in Paylocity during the 4th quarter valued at about $232,000. Barclays PLC increased its position in shares of Paylocity by 14.3% during the third quarter. Barclays PLC now owns 44,897 shares of the software maker's stock valued at $7,407,000 after acquiring an additional 5,609 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Paylocity by 5,742.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker's stock worth $1,165,000 after acquiring an additional 5,742 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Paylocity in the 4th quarter valued at approximately $29,000. Finally, Park Avenue Securities LLC boosted its stake in Paylocity by 63.3% during the 4th quarter. Park Avenue Securities LLC now owns 5,590 shares of the software maker's stock valued at $1,115,000 after purchasing an additional 2,167 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.
Paylocity Price Performance
Shares of PCTY traded up $1.48 during mid-day trading on Tuesday, reaching $191.30. The stock had a trading volume of 45,782 shares, compared to its average volume of 478,317. The firm has a market cap of $10.69 billion, a price-to-earnings ratio of 49.05, a PEG ratio of 4.49 and a beta of 0.76. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $223.80. The business has a fifty day moving average of $190.10 and a 200 day moving average of $195.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14.
Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. Equities analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on PCTY. Mizuho lowered their price target on Paylocity from $245.00 to $220.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. StockNews.com downgraded shares of Paylocity from a "buy" rating to a "hold" rating in a report on Monday, February 10th. TD Cowen dropped their target price on shares of Paylocity from $235.00 to $228.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Scotiabank started 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, Citigroup upgraded Paylocity from a "neutral" rating to a "buy" rating and upped their price objective for the company from $214.00 to $231.00 in a research report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $226.47.
Check Out Our Latest Stock Analysis on PCTY
Insider Activity at Paylocity
In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the 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 transaction, the director now owns 420,000 shares of the company's stock, valued at $81,862,200. This represents a 5.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 21.91% of the stock is currently owned by corporate insiders.
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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