Quantinno Capital Management LP Raises Position in Paylocity Holding Co. (NASDAQ:PCTY)

Quantinno Capital Management LP increased its holdings in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 62.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,020 shares of the software maker's stock after purchasing an additional 18,463 shares during the quarter. Quantinno Capital Management LP owned 0.09% of Paylocity worth $9,579,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Nomura Holdings Inc. acquired a new position in Paylocity in the 4th quarter valued at approximately $1,151,000. Nuveen Asset Management LLC grew its holdings in Paylocity by 11.0% during the fourth quarter. Nuveen Asset Management LLC now owns 104,381 shares of the software maker's stock valued at $20,821,000 after purchasing an additional 10,321 shares during the last quarter. Millennium Management LLC raised its holdings in Paylocity by 8.8% in the 4th quarter. Millennium Management LLC now owns 113,475 shares of the software maker's stock worth $22,635,000 after acquiring an additional 9,151 shares during the period. LMR Partners LLP lifted its holdings in shares of Paylocity by 73.5% during the fourth quarter. LMR Partners LLP now owns 59,007 shares of the software maker's stock worth $11,770,000 after buying an additional 25,000 shares during the last quarter. Finally, Focus Partners Wealth acquired a new stake in Paylocity in the 4th quarter worth $219,000. Institutional investors own 94.76% of the company's stock.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the sale, the director now directly owns 420,000 shares of the company's stock, 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 through this link. Insiders own 21.91% of the company's stock.

Analyst Upgrades and Downgrades

PCTY has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $250.00 price objective on shares of Paylocity in a report on Friday, May 2nd. Mizuho lowered their price target on shares of Paylocity from $245.00 to $220.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. BMO Capital Markets increased their price objective on shares of Paylocity from $210.00 to $226.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. KeyCorp cut their target price on Paylocity from $250.00 to $220.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Raymond James restated an "outperform" rating and set a $235.00 target price (down from $265.00) on shares of Paylocity in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $223.00.

Paylocity Trading Down 0.7%

NASDAQ:PCTY traded down $1.40 during trading hours on Wednesday, hitting $199.16. 56,136 shares of the company were exchanged, compared to its average volume of 461,475. The stock has a market capitalization of $11.00 billion, a price-to-earnings ratio of 50.99, a price-to-earnings-growth ratio of 4.49 and a beta of 0.58. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $223.80. The company has a fifty day simple moving average of $188.60 and a 200 day simple moving average of $197.91. 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 released its earnings results on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, topping the consensus estimate of $2.09 by $0.34. Paylocity had a return on equity of 22.45% and a net margin of 14.76%. The business had revenue of $454.55 million during the quarter, compared to analysts' expectations of $441.77 million. During the same quarter last year, the firm posted $2.21 earnings per share. The firm's revenue was up 13.3% on a year-over-year basis. Sell-side 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.