Barclays PLC raised its position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 18.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,306 shares of the software maker's stock after purchasing an additional 8,409 shares during the period. Barclays PLC owned 0.10% of Paylocity worth $10,632,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PCTY. Tidal Investments LLC raised its stake in shares of Paylocity by 207.0% in the 3rd quarter. Tidal Investments LLC now owns 8,836 shares of the software maker's stock valued at $1,458,000 after acquiring an additional 5,958 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Paylocity by 3.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 287,264 shares of the software maker's stock valued at $47,389,000 after acquiring an additional 8,878 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Paylocity by 81.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker's stock valued at $141,303,000 after acquiring an additional 385,625 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Paylocity by 43.3% in the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker's stock valued at $77,000 after acquiring an additional 116 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new position in shares of Paylocity in the 4th quarter valued at approximately $231,000. 94.76% of the stock is owned by hedge funds and other institutional investors.
Paylocity Stock Performance
Shares of NASDAQ:PCTY traded down $1.29 during trading on Monday, hitting $189.82. 448,214 shares of the stock were exchanged, compared to its average volume of 480,036. The company's fifty day simple moving average is $190.10 and its 200-day simple moving average is $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. The company has a market capitalization of $10.61 billion, a price-to-earnings ratio of 48.67, a price-to-earnings-growth ratio of 4.49 and a beta of 0.76. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80.
Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. Sell-side analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.
Insider Buying and Selling
In other news, Director Steven I. Sarowitz sold 23,243 shares of Paylocity stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $191.00, for a total transaction of $4,439,413.00. Following the completion of the sale, the director now owns 470,452 shares in the company, valued at $89,856,332. The trade was a 4.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 21.91% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of research analysts recently weighed in on PCTY shares. KeyCorp cut their price objective on Paylocity from $250.00 to $220.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Stifel Nicolaus raised their price objective on Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, February 7th. TD Cowen dropped their price target on Paylocity from $235.00 to $228.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Piper Sandler reaffirmed an "overweight" rating and issued a $254.00 price target (up from $212.00) on shares of Paylocity in a research report on Thursday, February 6th. Finally, Scotiabank initiated coverage on Paylocity in a research report on Wednesday, April 16th. They issued a "sector perform" rating and a $190.00 price target on the stock. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $226.47.
Read Our Latest Stock Report on PCTY
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.
Recommended Stories
Before you consider Paylocity, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Paylocity wasn't on the list.
While Paylocity currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
