Charles Schwab Investment Management Inc. Purchases 3,130 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Charles Schwab Investment Management Inc. grew its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 285,556 shares of the software maker’s stock after acquiring an additional 3,130 shares during the period. Charles Schwab Investment Management Inc. owned about 0.51% of Paylocity worth $56,960,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Asset Management Inc raised its stake in shares of Paylocity by 3.6% during the third quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker’s stock valued at $273,000 after acquiring an additional 58 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Paylocity by 29.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock valued at $55,000 after acquiring an additional 63 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after acquiring an additional 72 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in Paylocity by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the software maker’s stock worth $2,414,000 after buying an additional 100 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in Paylocity by 1.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 8,889 shares of the software maker’s stock worth $1,773,000 after buying an additional 100 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PCTY. Jefferies Financial Group increased their price target on shares of Paylocity from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. StockNews.com downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Piper Sandler reissued an “overweight” rating and issued a $254.00 price target (up from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. JMP Securities increased their price target on shares of Paylocity from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research note on Friday, February 7th. Finally, Mizuho upgraded shares of Paylocity from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $200.00 to $235.00 in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $233.25.

Insiders Place Their Bets

In other news, Director Steven I. Sarowitz sold 2,600 shares of Paylocity stock in a transaction on Monday, December 30th. The shares were sold at an average price of $200.14, for a total transaction of $520,364.00. Following the transaction, the director now owns 8,332,347 shares in the company, valued at $1,667,635,928.58. This trade represents a 0.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 29,187 shares of company stock valued at $5,888,655. Company insiders own 21.91% of the company’s stock.

Paylocity Price Performance

Shares of PCTY opened at $186.53 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80. The company has a market capitalization of $10.42 billion, a P/E ratio of 47.83, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. The firm has a 50 day moving average of $202.45 and a 200 day moving average of $189.90.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. As a group, equities research analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

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.