Paylocity Holding Co. (NASDAQ:PCTY) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. lifted its position in Paylocity Holding Co. (NASDAQ:PCTY) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,029,402 shares of the software maker’s stock after purchasing an additional 46,183 shares during the period. Vanguard Group Inc. owned about 0.07% of Paylocity worth $803,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of Paylocity in the fourth quarter worth about $29,000. UMB Bank n.a. raised its holdings in Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after purchasing an additional 72 shares during the period. Quarry LP boosted its position in Paylocity by 149.2% during the third quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after purchasing an additional 185 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Paylocity by 489.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $54,000 after purchasing an additional 225 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock valued at $55,000 after buying an additional 63 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PCTY has been the topic of a number of research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $254.00 price target (up previously from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. Barclays lifted their target price on shares of Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Mizuho upgraded shares of Paylocity from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $200.00 to $235.00 in a research report on Friday, January 31st. Raymond James reiterated an “outperform” rating and issued a $265.00 price objective (up from $215.00) on shares of Paylocity in a report on Friday, February 7th. Finally, StockNews.com cut Paylocity from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Paylocity has an average rating of “Moderate Buy” and an average target price of $233.25.

Insider Activity

In related news, Director Steven I. Sarowitz sold 2,600 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $200.14, for a total value of $520,364.00. Following the sale, the director now directly owns 8,332,347 shares in the company, valued at approximately $1,667,635,928.58. The trade was a 0.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 52,095 shares of company stock valued at $10,076,554 in the last quarter. Insiders own 21.91% of the company’s stock.

Paylocity Price Performance

Shares of PCTY stock opened at $186.33 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market capitalization of $10.41 billion, a PE ratio of 47.78, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. The firm’s 50-day moving average is $201.20 and its two-hundred day moving average is $192.49. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $223.80.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. Analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

About Paylocity

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.