Caxton Associates LP bought a new position in shares of Paylocity Holding Corp (NASDAQ:PCTY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,413 shares of the software maker’s stock, valued at approximately $292,000.
Other large investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its holdings in Paylocity by 38.5% in the 4th quarter. Franklin Resources Inc. now owns 858,817 shares of the software maker’s stock worth $103,762,000 after purchasing an additional 238,630 shares during the period. Lord Abbett & CO. LLC boosted its position in shares of Paylocity by 35.6% during the 4th quarter. Lord Abbett & CO. LLC now owns 734,221 shares of the software maker’s stock valued at $88,709,000 after acquiring an additional 192,878 shares during the last quarter. Granahan Investment Management Inc. MA grew its holdings in shares of Paylocity by 19.2% in the third quarter. Granahan Investment Management Inc. MA now owns 688,481 shares of the software maker’s stock valued at $67,182,000 after purchasing an additional 111,014 shares during the period. Blair William & Co. IL increased its position in Paylocity by 5.6% during the fourth quarter. Blair William & Co. IL now owns 611,293 shares of the software maker’s stock worth $73,856,000 after purchasing an additional 32,152 shares during the last quarter. Finally, State Street Corp raised its stake in Paylocity by 4.1% during the fourth quarter. State Street Corp now owns 449,729 shares of the software maker’s stock worth $54,336,000 after purchasing an additional 17,581 shares during the period. 67.36% of the stock is currently owned by institutional investors.
PCTY stock opened at $92.54 on Thursday. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 88.98, a PEG ratio of 3.98 and a beta of 1.32. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $124.13 and a 200-day simple moving average of $116.44. Paylocity Holding Corp has a 52 week low of $66.98 and a 52 week high of $150.73.
Paylocity (NASDAQ:PCTY) last issued its earnings results on Tuesday, February 4th. The software maker reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.07. Paylocity had a return on equity of 19.02% and a net margin of 11.11%. The firm had revenue of $128.00 million for the quarter, compared to analysts’ expectations of $130.22 million. During the same quarter last year, the firm earned $0.23 earnings per share. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. As a group, analysts expect that Paylocity Holding Corp will post 1.1 earnings per share for the current fiscal year.
In other Paylocity news, SVP Edward W. Gaty sold 8,658 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $124.51, for a total transaction of $1,078,007.58. Following the completion of the sale, the senior vice president now directly owns 114,284 shares in the company, valued at $14,229,500.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronald V. Waters sold 5,000 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $90.05, for a total transaction of $450,250.00. Following the completion of the sale, the director now directly owns 21,250 shares of the company’s stock, valued at approximately $1,913,562.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,855 shares of company stock worth $3,739,448. Company insiders own 37.80% of the company’s stock.
A number of analysts have recently issued reports on the stock. Mizuho raised their price target on shares of Paylocity from $105.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. They noted that the move was a valuation call. Raymond James lifted their price objective on Paylocity from $115.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $160.00 price target on shares of Paylocity in a research note on Wednesday, February 5th. Cantor Fitzgerald lifted their price target on shares of Paylocity from $119.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Finally, Robert W. Baird increased their price objective on Paylocity from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $141.21.
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; 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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