Paylocity Holding Co. (NASDAQ:PCTY) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers increased its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 0.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 129,753 shares of the software maker’s stock after acquiring an additional 747 shares during the period. Rhumbline Advisers’ holdings in Paylocity were worth $17,108,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American National Bank acquired a new position in Paylocity during the fourth quarter worth $31,000. J.Safra Asset Management Corp raised its holdings in Paylocity by 80.0% during the first quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock worth $42,000 after purchasing an additional 108 shares during the last quarter. Principal Securities Inc. acquired a new position in Paylocity during the fourth quarter worth $41,000. Rothschild Investment LLC acquired a new position in Paylocity during the second quarter worth $40,000. Finally, GAMMA Investing LLC raised its holdings in Paylocity by 34.7% during the first quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock worth $52,000 after purchasing an additional 78 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Paylocity

In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 1,745,022 shares of the company’s stock, valued at $248,979,738.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Steven R. Beauchamp sold 49,442 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $142.68, for a total value of $7,054,384.56. Following the completion of the sale, the chief executive officer now owns 1,745,022 shares of the company’s stock, valued at $248,979,738.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ryan Glenn sold 1,400 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $140.06, for a total value of $196,084.00. Following the completion of the sale, the chief financial officer now directly owns 31,074 shares of the company’s stock, valued at approximately $4,352,224.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,173 shares of company stock valued at $7,296,388. Company insiders own 22.50% of the company’s stock.

Paylocity Trading Up 1.8 %

PCTY stock opened at $156.53 on Tuesday. The stock has a 50-day moving average price of $149.09 and a two-hundred day moving average price of $155.38. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $206.28. The company has a market cap of $8.70 billion, a PE ratio of 45.50, a price-to-earnings-growth ratio of 3.72 and a beta of 0.94.

Paylocity (NASDAQ:PCTY) last posted its quarterly 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 firm had revenue of $357.30 million during the quarter, compared to the consensus estimate of $350.29 million. During the same quarter in the previous year, the business earned $0.76 earnings per share. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. Equities analysts forecast that Paylocity Holding Co. will post 4.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PCTY has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $200.00 price target on shares of Paylocity in a report on Thursday, September 5th. Citigroup cut their price target on Paylocity from $178.00 to $155.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. BTIG Research cut their price target on Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Piper Sandler cut their price target on Paylocity from $194.00 to $172.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Jefferies Financial Group cut their price target on Paylocity from $180.00 to $145.00 and set a “hold” rating for the company in a report on Monday, June 24th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus 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.