Wasatch Advisors Inc. boosted its position in Paylocity Holding Corporation (NASDAQ:PCTY) by 8.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 863,765 shares of the software maker’s stock after purchasing an additional 64,268 shares during the quarter. Wasatch Advisors Inc. owned approximately 1.67% of Paylocity Holding Corporation worth $39,025,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PCTY. Ameritas Investment Partners Inc. raised its holdings in Paylocity Holding Corporation by 22.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,282 shares of the software maker’s stock worth $103,000 after purchasing an additional 421 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Paylocity Holding Corporation by 562.6% in the second quarter. BNP Paribas Arbitrage SA now owns 3,293 shares of the software maker’s stock worth $149,000 after purchasing an additional 2,796 shares in the last quarter. Bank of Montreal Can raised its holdings in Paylocity Holding Corporation by 1.2% in the second quarter. Bank of Montreal Can now owns 3,419 shares of the software maker’s stock worth $154,000 after purchasing an additional 42 shares in the last quarter. Turner Investments LLC bought a new position in Paylocity Holding Corporation in the second quarter worth $158,000. Finally, Invictus RG bought a new position in Paylocity Holding Corporation in the first quarter worth $198,000. Institutional investors and hedge funds own 60.87% of the company’s stock.
Paylocity Holding Corporation (PCTY) traded up 1.26% on Friday, reaching $49.91. The company’s stock had a trading volume of 184,485 shares. The firm’s 50 day moving average price is $48.11 and its 200-day moving average price is $45.22. Paylocity Holding Corporation has a 1-year low of $29.69 and a 1-year high of $50.72. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 415.92 and a beta of 2.23.
Paylocity Holding Corporation (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, August 10th. The software maker reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The company had revenue of $76.10 million during the quarter, compared to analysts’ expectations of $73.79 million. Paylocity Holding Corporation had a return on equity of 6.13% and a net margin of 2.24%. Paylocity Holding Corporation’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) EPS. Equities analysts forecast that Paylocity Holding Corporation will post $0.79 earnings per share for the current year.
PCTY has been the topic of a number of recent research reports. Zacks Investment Research cut Paylocity Holding Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Mizuho reissued a “hold” rating and issued a $45.00 target price on shares of Paylocity Holding Corporation in a research note on Thursday, August 10th. Raymond James Financial, Inc. set a $55.00 target price on Paylocity Holding Corporation and gave the stock a “buy” rating in a research note on Wednesday, August 9th. BidaskClub cut Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, JMP Securities reissued an “outperform” rating and issued a $54.00 target price on shares of Paylocity Holding Corporation in a research note on Tuesday, July 18th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $51.46.
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In other Paylocity Holding Corporation news, VP Michael R. Haske sold 88,600 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $45.21, for a total transaction of $4,005,606.00. Following the completion of the transaction, the vice president now owns 1,189,606 shares of the company’s stock, valued at $53,782,087.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven R. Beauchamp sold 5,470 shares of the stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $50.09, for a total value of $273,992.30. The disclosure for this sale can be found here. Insiders sold a total of 1,563,715 shares of company stock valued at $70,723,858 in the last ninety days. 53.10% of the stock is currently owned by insiders.
About Paylocity Holding Corporation
Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Company’s services are provided in a software-as-a-service delivery model utilizing its cloud-based platform. The cloud-based platform provides a suite of applications using a multi-tenant architecture.
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