MGO One Seven LLC Makes New Investment in Paylocity Holding Co. (NASDAQ:PCTY)

MGO One Seven LLC bought a new position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,364 shares of the software maker's stock, valued at approximately $272,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in shares of Paylocity during the fourth quarter valued at approximately $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 valued at $49,000 after buying an additional 72 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Paylocity by 489.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock valued at $54,000 after buying an additional 225 shares during the period. Steward Partners Investment Advisory LLC boosted its stake 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 worth $55,000 after buying an additional 63 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Paylocity by 43.3% in the fourth quarter. GAMMA Investing LLC now owns 384 shares of the software maker's stock worth $77,000 after acquiring an additional 116 shares during the period. Institutional investors own 94.76% of the company's stock.

Insider Transactions at Paylocity

In related news, Director Steven I. Sarowitz sold 23,243 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $191.00, for a total value of $4,439,413.00. Following the completion of the sale, the director now directly owns 470,452 shares in the company, valued at $89,856,332. This trade represents a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 21.91% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on PCTY shares. UBS Group raised their target price on Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Stifel Nicolaus increased their price target on shares of Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Needham & Company LLC boosted their price objective on shares of Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Jefferies Financial Group lifted their target price on Paylocity from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Finally, StockNews.com cut Paylocity from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Paylocity currently has a consensus rating of "Moderate Buy" and an average target price of $226.12.

Paylocity Price Performance

Shares of Paylocity stock opened at $192.33 on Wednesday. The firm has a market cap of $10.75 billion, a PE ratio of 49.32, 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 stock has a 50 day moving average of $189.82 and a 200 day moving average of $195.88. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing analysts' consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. On average, research analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Paylocity Company 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.

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