Alpha DNA Investment Management LLC Purchases New Shares in Paylocity Holding Co. (NASDAQ:PCTY)

Alpha DNA Investment Management LLC purchased a new stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,172 shares of the software maker’s stock, valued at approximately $418,000.

Other hedge funds have also bought and sold shares of the company. Rothschild Investment LLC bought a new position in Paylocity during the second quarter valued at $40,000. J.Safra Asset Management Corp increased its position in Paylocity by 80.0% during the first quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock valued at $42,000 after acquiring an additional 108 shares during the last quarter. GAMMA Investing LLC increased its position in Paylocity by 34.7% during the first quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock valued at $52,000 after acquiring an additional 78 shares during the last quarter. RiverPark Advisors LLC increased its position in Paylocity by 152.0% during the first quarter. RiverPark Advisors LLC now owns 383 shares of the software maker’s stock valued at $66,000 after acquiring an additional 231 shares during the last quarter. Finally, Versant Capital Management Inc bought a new position in Paylocity during the second quarter valued at $66,000. Institutional investors own 94.76% of the company’s stock.

Insider Activity at Paylocity

In related news, CEO Steven R. Beauchamp sold 49,442 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 1,745,022 shares of the company’s stock, valued at approximately $248,979,738.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Steven R. Beauchamp sold 49,442 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 1,745,022 shares of the company’s stock, valued at approximately $248,979,738.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ryan Glenn sold 1,400 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $140.06, for a total transaction of $196,084.00. Following the completion of the transaction, the chief financial officer now directly owns 31,074 shares of the company’s stock, valued at $4,352,224.44. The disclosure for this sale can be found here. 22.50% of the stock is currently owned by insiders.

Paylocity Stock Performance

PCTY stock opened at $161.58 on Thursday. The firm has a market cap of $8.98 billion, a price-to-earnings ratio of 46.97, a PEG ratio of 3.98 and a beta of 0.94. The firm has a 50-day simple moving average of $155.01 and a two-hundred day simple moving average of $154.72. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $206.28.

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

Analysts Set New Price Targets

A number of research firms have weighed in on PCTY. Jefferies Financial Group cut their price objective on shares of Paylocity from $180.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Robert W. Baird cut their price target on shares of Paylocity from $225.00 to $195.00 and set an “outperform” rating on the stock in a report on Tuesday, June 18th. JMP Securities restated a “market outperform” rating and issued a $250.00 price target on shares of Paylocity in a report on Monday, August 5th. Stifel Nicolaus cut their price target on shares of Paylocity from $205.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Finally, TD Cowen cut their price target on shares of Paylocity from $180.00 to $153.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $179.13.

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.