Nebula Research & Development LLC increased its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 84.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,730 shares of the software maker's stock after purchasing an additional 4,005 shares during the period. Nebula Research & Development LLC's holdings in Paylocity were worth $1,741,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in Paylocity during the fourth quarter worth about $29,000. UMB Bank n.a. increased its position in shares of Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock valued at $49,000 after purchasing an additional 72 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Paylocity by 489.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock valued at $54,000 after purchasing an additional 225 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock worth $55,000 after purchasing an additional 63 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Paylocity by 43.3% during the fourth quarter. GAMMA Investing LLC now owns 384 shares of the software maker's stock worth $77,000 after buying an additional 116 shares in the last quarter. Institutional investors own 94.76% of the company's stock.
Paylocity Stock Performance
Paylocity stock traded up $4.31 during mid-day trading on Thursday, hitting $196.41. 132,614 shares of the company's stock traded hands, compared to its average volume of 478,390. The firm has a 50 day simple moving average of $189.57 and a two-hundred day simple moving average of $195.86. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market cap of $10.98 billion, a price-to-earnings ratio of 50.22, a P/E/G ratio of 4.49 and a beta of 0.76. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80.
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.
Insiders Place Their Bets
In related news, Director Steven I. Sarowitz sold 26,252 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.91, for a total value of $5,116,777.32. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 21.91% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. TD Cowen cut their price objective on Paylocity from $235.00 to $228.00 and set a "buy" rating for the company in a report on Monday, January 6th. JMP Securities restated a "market outperform" rating and issued a $270.00 price target on shares of Paylocity in a research report on Tuesday. Citigroup dropped their price objective on shares of Paylocity from $246.00 to $225.00 and set a "buy" rating for the company in a report on Tuesday. UBS Group lifted their target price on shares of Paylocity from $211.00 to $220.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Finally, Jefferies Financial Group lifted their price objective on Paylocity from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $226.12.
View Our Latest Stock Analysis on Paylocity
About Paylocity
(
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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