Tudor Investment Corp ET AL Boosts Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Tudor Investment Corp ET AL increased its position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 6,025.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,758 shares of the software maker's stock after purchasing an additional 123,705 shares during the period. Tudor Investment Corp ET AL owned approximately 0.23% of Paylocity worth $25,085,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in shares of Paylocity in the 4th quarter worth $29,000. UMB Bank n.a. lifted its holdings in shares of Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock worth $49,000 after purchasing an additional 72 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Paylocity by 489.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock worth $54,000 after purchasing an additional 225 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in Paylocity by 29.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock valued at $55,000 after buying an additional 63 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new stake in Paylocity in the 4th quarter valued at $72,000. 94.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PCTY shares. KeyCorp lowered their price target on Paylocity from $250.00 to $220.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group increased their price target on Paylocity from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Mizuho lowered their price target on Paylocity from $245.00 to $220.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Citigroup decreased their target price on Paylocity from $246.00 to $225.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Scotiabank began coverage on Paylocity in a research report on Wednesday, April 16th. They set a "sector perform" rating and a $190.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Paylocity currently has a consensus rating of "Moderate Buy" and an average target price of $226.12.

Paylocity Stock Performance

NASDAQ PCTY traded up $2.06 during trading on Thursday, hitting $194.16. 544,255 shares of the company's stock traded hands, compared to its average volume of 478,679. The stock has a market capitalization of $10.85 billion, a price-to-earnings ratio of 49.78, a PEG ratio of 4.49 and a beta of 0.76. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80. 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 business has a 50 day moving average of $189.57 and a 200-day moving average of $195.86.

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 net margin of 14.76% and a return on equity of 22.45%. As a group, equities research analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 23,243 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $191.00, for a total value of $4,439,413.00. Following the transaction, the director now directly owns 470,452 shares in the company, valued at $89,856,332. This represents a 4.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 21.91% of the company's stock.

About Paylocity

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.