Paylocity Holding Co. (NASDAQ:PCTY) Shares Purchased by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 217.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,477 shares of the software maker’s stock after buying an additional 18,131 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Paylocity were worth $3,491,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PCTY. WCM Investment Management LLC boosted its position in Paylocity by 2.3% during the 1st quarter. WCM Investment Management LLC now owns 3,053 shares of the software maker’s stock worth $525,000 after purchasing an additional 69 shares during the period. GAMMA Investing LLC boosted its position in shares of Paylocity by 34.7% in the first quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock worth $52,000 after buying an additional 78 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Paylocity by 144.1% in the first quarter. Venturi Wealth Management LLC now owns 166 shares of the software maker’s stock valued at $29,000 after buying an additional 98 shares in the last quarter. Securian Asset Management Inc. raised its holdings in shares of Paylocity by 2.8% during the 4th quarter. Securian Asset Management Inc. now owns 3,655 shares of the software maker’s stock valued at $603,000 after buying an additional 100 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in Paylocity by 3.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 2,900 shares of the software maker’s stock worth $498,000 after acquiring an additional 100 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PCTY. KeyCorp dropped their price objective on shares of Paylocity from $200.00 to $171.00 and set an “overweight” rating on the stock in a research note on Friday, July 19th. TD Cowen dropped their price target on shares of Paylocity from $180.00 to $153.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. Jefferies Financial Group decreased their price objective on shares of Paylocity from $180.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, June 24th. JMP Securities reiterated a “market outperform” rating and issued a $250.00 price target on shares of Paylocity in a research note on Monday, August 5th. Finally, Stifel Nicolaus lowered their price objective on Paylocity from $205.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Paylocity has a consensus rating of “Moderate Buy” and a consensus price target of $179.13.

Insider Activity at Paylocity

In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the completion of the transaction, the chief executive officer now owns 1,745,022 shares in the company, valued at approximately $248,979,738.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the transaction, the chief executive officer now owns 1,745,022 shares of the company’s stock, valued at approximately $248,979,738.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Nicholas Rost sold 331 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 4,751 shares of the company’s stock, valued at $659,106.23. The disclosure for this sale can be found here. Insiders have sold a total of 51,173 shares of company stock worth $7,296,388 in the last three months. 22.50% of the stock is owned by company insiders.

Paylocity Price Performance

NASDAQ:PCTY opened at $161.40 on Friday. The firm has a market capitalization of $9.11 billion, a P/E ratio of 46.92, a P/E/G ratio of 3.73 and a beta of 0.92. The business has a 50 day simple moving average of $146.51 and a 200 day simple moving average of $156.10. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $206.28.

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. Paylocity had a return on equity of 22.17% and a net margin of 14.74%. The company had revenue of $357.30 million for the quarter, compared to analysts’ expectations of $350.29 million. During the same period last year, the business posted $0.76 earnings per share. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. Research analysts anticipate that Paylocity Holding Co. will post 4.5 EPS for the current fiscal year.

About Paylocity

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.