NBC Securities Inc. Acquires Shares of 1,762 Paylocity Holding Co. (NASDAQ:PCTY)

NBC Securities Inc. acquired a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 1,762 shares of the software maker’s stock, valued at approximately $290,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PCTY. UMB Bank n.a. lifted its holdings in shares of Paylocity by 1,650.0% during the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after purchasing an additional 165 shares during the period. J.Safra Asset Management Corp increased its stake in shares of 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 acquiring an additional 108 shares during the period. Rothschild Investment LLC purchased a new position in Paylocity during the second quarter worth about $40,000. GAMMA Investing LLC lifted its position in Paylocity by 34.7% in the first quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock valued at $52,000 after purchasing an additional 78 shares during the period. Finally, RiverPark Advisors LLC boosted its holdings in Paylocity by 152.0% in the 1st quarter. RiverPark Advisors LLC now owns 383 shares of the software maker’s stock valued at $66,000 after purchasing an additional 231 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PCTY has been the subject of a number of analyst reports. KeyCorp increased their target price on Paylocity from $171.00 to $182.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. JMP Securities reissued a “market outperform” rating and issued a $250.00 target price on shares of Paylocity in a report on Monday, August 5th. Jefferies Financial Group decreased their target price on shares of Paylocity from $180.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. BTIG Research cut their price target on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Barclays boosted their price objective on shares of Paylocity from $156.00 to $174.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $182.40.

Insider Transactions at Paylocity

In related news, SVP Rachit Lohani sold 658 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total transaction of $107,142.14. Following the transaction, the senior vice president now owns 39,764 shares of the company’s stock, valued at approximately $6,474,772.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Steven R. Beauchamp sold 49,442 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 1,745,022 shares in the company, valued at approximately $248,979,738.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Rachit Lohani sold 658 shares of the stock in a transaction dated 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 owns 39,764 shares in the company, valued at $6,474,772.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,232 shares of company stock worth $7,183,315 over the last ninety days. 22.50% of the stock is currently owned by corporate insiders.

Paylocity Stock Performance

PCTY stock opened at $172.09 on Friday. The stock’s 50 day moving average price is $160.82 and its 200 day moving average price is $154.42. The firm has a market cap of $9.56 billion, a P/E ratio of 47.28, a PEG ratio of 4.07 and a beta of 0.95. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $200.29.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, August 1st. The software maker reported $1.48 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 business had revenue of $357.30 million for the quarter, compared to analyst estimates of $350.29 million. During the same quarter last year, the company earned $0.76 earnings per share. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, research analysts predict that Paylocity Holding Co. will post 4.51 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.