Headlands Technologies LLC Acquires Shares of 1,348 Paylocity Holding Co. (NASDAQ:PCTY)

Headlands Technologies LLC acquired a new stake in Paylocity Holding Co. (NASDAQ:PCTY) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 1,348 shares of the software maker’s stock, valued at approximately $178,000.

Several other large investors also recently bought and sold shares of the company. American National Bank purchased a new position in shares of Paylocity during the 4th quarter valued at approximately $31,000. Rothschild Investment LLC purchased a new position in shares of Paylocity during the 2nd quarter valued at approximately $40,000. Principal Securities Inc. purchased a new position in shares of Paylocity during the 4th quarter valued at approximately $41,000. J.Safra Asset Management Corp boosted its stake in shares of Paylocity by 80.0% during the 1st quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock valued at $42,000 after buying an additional 108 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Paylocity by 34.7% during the 1st quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock valued at $52,000 after buying an additional 78 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PCTY. Stifel Nicolaus reduced their target price on Paylocity from $205.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Jefferies Financial Group reduced their target price on Paylocity from $180.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Truist Financial reduced their price objective on Paylocity from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. JMP Securities restated a “market outperform” rating and set a $250.00 price objective on shares of Paylocity in a research note on Monday, August 5th. Finally, Citigroup reduced their price objective on Paylocity from $178.00 to $155.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Paylocity currently has a consensus rating of “Moderate Buy” and an average price target of $179.13.

Insider Activity

In other news, CAO Nicholas Rost sold 331 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $138.73, for a total transaction of $45,919.63. Following the transaction, the chief accounting officer now directly owns 4,751 shares of the company’s stock, valued at $659,106.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Nicholas Rost sold 331 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $138.73, for a total transaction of $45,919.63. Following the transaction, the chief accounting officer now directly owns 4,751 shares of the company’s stock, valued at $659,106.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven R. Beauchamp sold 49,442 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $142.68, for a total value of $7,054,384.56. Following the transaction, the chief executive officer now directly owns 1,745,022 shares in the company, valued at $248,979,738.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,173 shares of company stock valued at $7,296,388. Company insiders own 22.50% of the company’s stock.

Paylocity Stock Performance

PCTY stock opened at $159.53 on Friday. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 46.38, a PEG ratio of 3.82 and a beta of 0.94. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $206.28. The stock’s fifty day moving average is $151.57 and its two-hundred day moving average is $155.02.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, August 1st. The software maker reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.19. The company had revenue of $357.30 million for the quarter, compared to analysts’ expectations of $350.29 million. Paylocity had a return on equity of 22.17% and a net margin of 14.74%. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period last year, the business posted $0.76 earnings per share. As a group, analysts predict that Paylocity Holding Co. will post 4.51 EPS for the current fiscal year.

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.