By otakuyassine3@gmail.com 
Fmr LLC increased its position in shares of Paylocity Holding Co. (NASDAQ:PCTY – Free Report) by 138.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 650,599 shares of the software maker’s stock after purchasing an additional 377,835 shares during the quarter. Fmr LLC owned 1.17% of Paylocity worth $129,775,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in PCTY. Federated Hermes Inc. boosted its holdings in shares of Paylocity by 7.6% in the 4th quarter. Federated Hermes Inc. now owns 4,955 shares of the software maker’s stock valued at $988,000 after buying an additional 348 shares during the period. Russell Investments Group Ltd. lifted its holdings in Paylocity by 7.1% in the fourth quarter. Russell Investments Group Ltd. now owns 34,625 shares of the software maker’s stock worth $6,907,000 after acquiring an additional 2,308 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Paylocity by 2.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 130,947 shares of the software maker’s stock valued at $26,120,000 after acquiring an additional 3,104 shares during the period. ExodusPoint Capital Management LP grew its holdings in shares of Paylocity by 470.8% during the fourth quarter. ExodusPoint Capital Management LP now owns 16,101 shares of the software maker’s stock valued at $3,212,000 after purchasing an additional 13,280 shares during the last quarter. Finally, Bryce Point Capital LLC acquired a new stake in shares of Paylocity during the 4th quarter worth approximately $1,386,000. Institutional investors and hedge funds own 94.76% of the company’s stock.
Analyst Ratings Changes
A number of research analysts recently issued reports on the company. JMP Securities boosted their price objective on Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a research report on Friday, February 7th. Stifel Nicolaus boosted their price target on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 7th. Barclays increased their price objective on shares of Paylocity from $214.00 to $231.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Needham & Company LLC upped their target price on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, KeyCorp raised their price target on shares of Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $233.25.
Check Out Our Latest Stock Analysis on PCTY
Paylocity Stock Up 1.9 %
Shares of PCTY stock opened at $187.27 on Monday. 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 stock has a market cap of $10.47 billion, a PE ratio of 48.02, a price-to-earnings-growth ratio of 4.49 and a beta of 0.76. The business’s fifty day moving average is $196.14 and its 200-day moving average is $194.30. 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 issued 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 return on equity of 22.45% and a net margin of 14.76%. Equities analysts expect that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.
Insider Activity at Paylocity
In other news, Director Steven I. Sarowitz sold 26,252 shares of the stock in a transaction on 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 completion of the sale, the director now owns 420,000 shares in the company, valued at approximately $81,862,200. This represents a 5.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 21.91% of the company’s stock.
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.
See Also
Receive News & Ratings for Paylocity Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Paylocity and related companies with MarketBeat.com’s FREE daily email newsletter.