Raymond James Financial Inc. acquired a new stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 34,182 shares of the software maker's stock, valued at approximately $6,818,000. Raymond James Financial Inc. owned approximately 0.06% of Paylocity at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Certuity LLC acquired a new position in shares of Paylocity in the 4th quarter valued at $232,000. Barclays PLC grew its position in Paylocity by 14.3% during the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker's stock worth $7,407,000 after purchasing an additional 5,609 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Paylocity by 5,742.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker's stock valued at $1,165,000 after purchasing an additional 5,742 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Paylocity in the fourth quarter worth $29,000. Finally, Park Avenue Securities LLC grew its holdings in shares of Paylocity by 63.3% during the fourth quarter. Park Avenue Securities LLC now owns 5,590 shares of the software maker's stock valued at $1,115,000 after buying an additional 2,167 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.
Paylocity Stock Performance
Shares of PCTY traded up $1.65 during mid-day trading on Tuesday, reaching $191.47. The company had a trading volume of 32,636 shares, compared to its average volume of 478,276. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $223.80. The stock has a market capitalization of $10.70 billion, a P/E ratio of 49.15, a PEG ratio of 4.49 and a beta of 0.76. The stock has a 50 day moving average of $190.10 and a two-hundred day moving average of $195.91. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28.
Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share (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%. On average, analysts expect that Paylocity Holding Co. will post 4.36 earnings per share for the current year.
Analysts Set New Price Targets
A number of analysts have issued reports on PCTY shares. Raymond James reiterated an "outperform" rating and issued a $265.00 target price (up from $215.00) on shares of Paylocity in a research note on Friday, February 7th. Piper Sandler reiterated an "overweight" rating and issued a $254.00 price objective (up previously from $212.00) on shares of Paylocity in a research report on Thursday, February 6th. Needham & Company LLC lifted their price objective on Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a report on Friday, February 7th. JMP Securities upped their price target on shares of Paylocity from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research report on Friday, February 7th. Finally, TD Cowen dropped their price target on shares of Paylocity from $235.00 to $228.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $226.47.
Read Our Latest Stock Analysis on PCTY
Insider Buying and Selling at Paylocity
In related news, Director Steven I. Sarowitz sold 26,252 shares of the company's stock in a transaction that occurred on 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 in the company, valued at approximately $81,862,200. This represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 21.91% of the company's stock.
Paylocity Profile
(
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.
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