HighPoint Advisor Group LLC Invests $235,000 in Paylocity Holding Co. (NASDAQ:PCTY)

HighPoint Advisor Group LLC purchased a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,376 shares of the software maker’s stock, valued at approximately $235,000.

Several other hedge funds have also made changes to their positions in the business. American National Bank acquired a new stake in shares of Paylocity in the fourth quarter valued at approximately $31,000. GAMMA Investing LLC acquired a new stake in shares of Paylocity in the fourth quarter valued at approximately $36,000. Principal Securities Inc. acquired a new stake in shares of Paylocity in the fourth quarter valued at approximately $41,000. V Square Quantitative Management LLC boosted its holdings in shares of Paylocity by 84.9% in the fourth quarter. V Square Quantitative Management LLC now owns 466 shares of the software maker’s stock valued at $77,000 after acquiring an additional 214 shares during the period. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Paylocity in the fourth quarter valued at approximately $93,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Nicholas Rost sold 331 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $138.73, for a total value of $45,919.63. Following the completion of the sale, the chief accounting officer now directly owns 4,751 shares in the company, valued at approximately $659,106.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 22.50% of the stock is owned by company insiders.

Paylocity Stock Up 0.1 %

PCTY stock opened at $135.98 on Friday. Paylocity Holding Co. has a 52-week low of $132.61 and a 52-week high of $230.52. The stock’s 50 day moving average is $153.94 and its two-hundred day moving average is $161.00. The company has a market capitalization of $7.67 billion, a PE ratio of 39.53, a P/E/G ratio of 2.45 and a beta of 0.89.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, May 2nd. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.29. Paylocity had a return on equity of 22.08% and a net margin of 14.42%. The company had revenue of $401.28 million for the quarter, compared to the consensus estimate of $396.93 million. As a group, sell-side analysts anticipate that Paylocity Holding Co. will post 3.95 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PCTY shares. TD Cowen decreased their price target on Paylocity from $180.00 to $153.00 and set a “buy” rating for the company in a report on Thursday. KeyCorp increased their price target on Paylocity from $186.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Citigroup decreased their price target on Paylocity from $178.00 to $155.00 and set a “neutral” rating for the company in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 price target on shares of Paylocity in a report on Friday, May 3rd. Finally, Stifel Nicolaus decreased their price target on Paylocity from $205.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.71.

Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.