Bank of New York Mellon Corp boosted its position in shares of Paylocity Holding (NASDAQ:PCTY) by 8.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 117,743 shares of the software maker’s stock after buying an additional 8,902 shares during the period. Bank of New York Mellon Corp’s holdings in Paylocity were worth $5,553,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new position in Paylocity during the 3rd quarter worth $211,000. Jane Street Group LLC purchased a new position in Paylocity during the 3rd quarter worth $260,000. Fortaleza Asset Management Inc. purchased a new position in Paylocity during the 4th quarter worth $255,000. Prudential Financial Inc. purchased a new position in Paylocity during the 3rd quarter worth $267,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Paylocity during the 3rd quarter worth $289,000. Institutional investors own 62.59% of the company’s stock.
Shares of NASDAQ PCTY opened at $51.06 on Friday. The firm has a market cap of $2,745.39, a price-to-earnings ratio of 340.40, a P/E/G ratio of 7.84 and a beta of 2.00. Paylocity Holding has a 12-month low of $37.66 and a 12-month high of $57.16.
Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, February 8th. The software maker reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.04. The business had revenue of $86.00 million for the quarter, compared to analysts’ expectations of $85.03 million. Paylocity had a return on equity of 8.93% and a net margin of 3.57%. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 EPS. equities research analysts forecast that Paylocity Holding will post 0.3 earnings per share for the current fiscal year.
Several research analysts have commented on PCTY shares. Dougherty & Co started coverage on Paylocity in a report on Tuesday, December 19th. They set a “neutral” rating on the stock. Zacks Investment Research upgraded Paylocity from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Tuesday, January 2nd. BidaskClub upgraded Paylocity from a “sell” rating to a “hold” rating in a report on Tuesday, December 19th. First Analysis increased their target price on Paylocity from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, March 19th. Finally, SunTrust Banks raised Paylocity from a “hold” rating to a “buy” rating and dropped their target price for the company from $52.72 to $45.00 in a research report on Monday, March 12th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Paylocity presently has a consensus rating of “Buy” and a consensus target price of $54.57.
In other news, Director Steven I. Sarowitz sold 63,540 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $45.17, for a total value of $2,870,101.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Steven R. Beauchamp sold 50,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $44.91, for a total value of $2,245,500.00. The disclosure for this sale can be found here. Insiders sold a total of 290,927 shares of company stock valued at $13,750,422 in the last three months. Insiders own 48.80% of the company’s stock.
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Paylocity Holding Corporation provides cloud-based payroll and human capital management (HCM) software solutions for medium-sized organizations in the United States. It offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management and HR compliance and reporting; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.
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