Paylocity Holding Co. (NASDAQ:PCTY) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 393.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,864 shares of the software maker's stock after purchasing an additional 30,193 shares during the period. BNP Paribas Financial Markets owned approximately 0.07% of Paylocity worth $7,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Certuity LLC purchased a new position in Paylocity in the fourth quarter worth approximately $232,000. Barclays PLC grew its position in Paylocity by 14.3% in the third quarter. Barclays PLC now owns 44,897 shares of the software maker's stock worth $7,407,000 after acquiring an additional 5,609 shares during the period. Nisa Investment Advisors LLC grew its position in Paylocity by 5,742.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker's stock worth $1,165,000 after acquiring an additional 5,742 shares during the period. SBI Securities Co. Ltd. purchased a new position in Paylocity in the fourth quarter worth approximately $29,000. Finally, Park Avenue Securities LLC grew its position in Paylocity by 63.3% in the fourth quarter. Park Avenue Securities LLC now owns 5,590 shares of the software maker's stock worth $1,115,000 after acquiring an additional 2,167 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Paylocity Stock Up 0.9%

Paylocity stock traded up $1.83 during midday trading on Friday, reaching $201.04. The company's stock had a trading volume of 401,084 shares, compared to its average volume of 463,638. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. 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 cap of $11.10 billion, a P/E ratio of 51.55, a P/E/G ratio of 4.49 and a beta of 0.58. The business has a 50-day simple moving average of $188.32 and a 200-day simple moving average of $197.76.

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

Insider Transactions at Paylocity

In other news, Director Steven I. Sarowitz sold 26,252 shares of Paylocity stock in a transaction dated 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 sale, the director now owns 420,000 shares in the company, valued at approximately $81,862,200. The trade was 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 accessible through this link. Insiders own 21.91% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on PCTY. Scotiabank began coverage on Paylocity in a research report on Wednesday, April 16th. They issued a "sector perform" rating and a $190.00 price objective for the company. UBS Group raised their price target on Paylocity from $195.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Barclays raised their price target on Paylocity from $204.00 to $209.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. 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. Finally, 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. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, Paylocity currently has an average rating of "Moderate Buy" and a consensus price target of $223.00.

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.