Stanley Laman Group Ltd. Invests $6.57 Million in Paylocity Holding Co. (NASDAQ:PCTY)

Stanley Laman Group Ltd. bought a new stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 39,826 shares of the software maker's stock, valued at approximately $6,565,000. Paylocity accounts for approximately 1.0% of Stanley Laman Group Ltd.'s investment portfolio, making the stock its 27th biggest holding. Stanley Laman Group Ltd. owned about 0.07% of Paylocity at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. CWM LLC boosted its holdings in Paylocity by 18.1% in the 3rd quarter. CWM LLC now owns 412 shares of the software maker's stock valued at $75,000 after purchasing an additional 63 shares during the period. Avior Wealth Management LLC lifted its stake in shares of Paylocity by 28.2% in the third quarter. Avior Wealth Management LLC now owns 3,147 shares of the software maker's stock valued at $572,000 after buying an additional 693 shares during the period. Oak Thistle LLC acquired a new stake in Paylocity during the third quarter worth about $653,000. Handelsbanken Fonder AB increased its stake in Paylocity by 2.4% during the third quarter. Handelsbanken Fonder AB now owns 243,941 shares of the software maker's stock valued at $44,324,000 after acquiring an additional 5,740 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Paylocity by 33.0% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 14,100 shares of the software maker's stock valued at $2,562,000 after acquiring an additional 3,500 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Paylocity Stock Up 0.3 %

NASDAQ PCTY traded up $0.42 on Thursday, reaching $156.58. The company had a trading volume of 363,834 shares, compared to its average volume of 463,499. Paylocity Holding Co. has a 52 week low of $139.40 and a 52 week high of $230.52. The stock has a market cap of $8.82 billion, a price-to-earnings ratio of 52.90, a PEG ratio of 3.44 and a beta of 0.87. The stock's 50 day moving average is $167.57 and its 200-day moving average is $165.36.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its earnings results on Thursday, February 8th. The software maker reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.08. Paylocity had a net margin of 12.96% and a return on equity of 21.37%. The company had revenue of $326.36 million for the quarter, compared to analyst estimates of $324.34 million. As a group, analysts forecast that Paylocity Holding Co. will post 3.48 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of Paylocity from $207.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, February 9th. Truist Financial dropped their target price on Paylocity from $250.00 to $200.00 and set a "buy" rating for the company in a report on Friday, February 9th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $180.00 price target (down previously from $240.00) on shares of Paylocity in a research note on Friday, January 5th. Needham & Company LLC reiterated a "buy" rating and set a $200.00 price objective on shares of Paylocity in a research note on Friday, February 9th. Finally, JMP Securities restated a "market outperform" rating and issued a $250.00 target price on shares of Paylocity in a research note on Monday, January 22nd. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Paylocity presently has an average rating of "Moderate Buy" and an average target price of $205.13.

Insider Buying and Selling

In related news, Director Jeffrey T. Diehl sold 1,760 shares of the firm's stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $171.64, for a total transaction of $302,086.40. Following the sale, the director now directly owns 14,704 shares in the company, valued at $2,523,794.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Jeffrey T. Diehl sold 1,760 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $171.64, for a total transaction of $302,086.40. Following the completion of the transaction, the director now directly owns 14,704 shares in the company, valued at $2,523,794.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeffrey T. Diehl sold 20,032 shares of Paylocity stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $168.55, for a total value of $3,376,393.60. Following the completion of the sale, the director now directly owns 16,391 shares in the company, valued at approximately $2,762,703.05. The disclosure for this sale can be found here. In the last three months, insiders sold 54,547 shares of company stock valued at $9,356,359. 22.50% of the stock is owned by corporate insiders.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.

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