Northern Trust Corp Boosts Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Northern Trust Corp boosted its position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 22.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 461,217 shares of the software maker's stock after buying an additional 84,254 shares during the quarter. Northern Trust Corp owned approximately 0.83% of Paylocity worth $91,999,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PCTY. Vanguard Group Inc. grew its holdings in shares of Paylocity by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker's stock valued at $803,745,000 after acquiring an additional 46,183 shares in the last quarter. Invesco Ltd. raised its stake in shares of Paylocity by 31.7% in the fourth quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker's stock worth $265,737,000 after acquiring an additional 320,319 shares during the last quarter. Geode Capital Management LLC boosted its stake in Paylocity by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 1,073,988 shares of the software maker's stock valued at $214,275,000 after acquiring an additional 25,182 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Paylocity by 0.8% in the fourth quarter. JPMorgan Chase & Co. now owns 863,787 shares of the software maker's stock worth $172,300,000 after purchasing an additional 7,251 shares during the period. Finally, FMR LLC lifted its position in Paylocity by 138.5% in the 4th quarter. FMR LLC now owns 650,599 shares of the software maker's stock valued at $129,775,000 after acquiring an additional 377,835 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on PCTY. JMP Securities reissued a "market outperform" rating and issued a $270.00 price target on shares of Paylocity in a report on Tuesday, April 29th. Needham & Company LLC reaffirmed a "buy" rating and issued a $250.00 price objective on shares of Paylocity in a research note on Friday, May 2nd. Stifel Nicolaus cut their target price on Paylocity from $250.00 to $235.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. StockNews.com cut shares of Paylocity from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Scotiabank assumed coverage on Paylocity in a research note on Wednesday, April 16th. They set a "sector perform" rating and a $190.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $223.00.

Insider Transactions at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the transaction, the director now directly owns 420,000 shares in the company, valued at $81,862,200. This represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 21.91% of the company's stock.

Paylocity Price Performance

Shares of Paylocity stock traded up $1.08 on Friday, reaching $194.62. The company's stock had a trading volume of 279,473 shares, compared to its average volume of 468,048. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $10.75 billion, a P/E ratio of 49.90, a PEG ratio of 4.49 and a beta of 0.58. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $223.80. The stock has a 50-day moving average price of $187.73 and a 200-day moving average price of $196.62.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.34. The company had revenue of $454.55 million for the quarter, compared to analysts' expectations of $441.77 million. Paylocity had a return on equity of 22.45% and a net margin of 14.76%. Paylocity's revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.21 EPS. Analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current 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.