Lecap Asset Management Ltd. Invests $578,000 in Paylocity Holding Co. (NASDAQ:PCTY)

Lecap Asset Management Ltd. acquired a new stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,501 shares of the software maker’s stock, valued at approximately $578,000.

Several other hedge funds also recently bought and sold shares of PCTY. Daiwa Securities Group Inc. boosted its stake in shares of Paylocity by 3.6% during the first quarter. Daiwa Securities Group Inc. now owns 2,900 shares of the software maker’s stock valued at $498,000 after purchasing an additional 100 shares during the period. King Luther Capital Management Corp boosted its position in Paylocity by 1.0% in the 2nd quarter. King Luther Capital Management Corp now owns 9,981 shares of the software maker’s stock valued at $1,316,000 after buying an additional 103 shares during the period. J.Safra Asset Management Corp grew its stake in Paylocity by 80.0% in the 1st quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock worth $42,000 after acquiring an additional 108 shares in the last quarter. SkyOak Wealth LLC increased its position in shares of Paylocity by 7.1% during the second quarter. SkyOak Wealth LLC now owns 1,837 shares of the software maker’s stock worth $242,000 after acquiring an additional 122 shares during the period. Finally, Toronto Dominion Bank raised its stake in shares of Paylocity by 2.9% during the second quarter. Toronto Dominion Bank now owns 4,413 shares of the software maker’s stock valued at $582,000 after acquiring an additional 126 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Insider Transactions at Paylocity

In related news, SVP Rachit Lohani sold 658 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total value of $107,142.14. Following the transaction, the senior vice president now directly owns 39,764 shares of the company’s stock, valued at $6,474,772.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 22.50% of the company’s stock.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $173.57 on Friday. The firm has a market capitalization of $9.65 billion, a P/E ratio of 47.68, a P/E/G ratio of 4.23 and a beta of 0.95. The business’s 50-day moving average is $162.53 and its 200 day moving average is $154.63. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $184.77.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data 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 firm 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%. Paylocity’s revenue was up 15.8% on a year-over-year basis. During the same period last year, the firm posted $0.76 EPS. On average, analysts expect that Paylocity Holding Co. will post 4.52 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on PCTY shares. Mizuho increased their price objective on Paylocity from $155.00 to $175.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Barclays raised their price target on Paylocity from $156.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. KeyCorp lifted their price objective on Paylocity from $171.00 to $182.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Jefferies Financial Group upgraded shares of Paylocity from a “hold” rating to a “buy” rating and increased their target price for the stock from $145.00 to $200.00 in a report on Tuesday. Finally, Truist Financial lowered their price target on shares of Paylocity from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Paylocity has a consensus rating of “Moderate Buy” and a consensus price target of $186.07.

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.