Signaturefd LLC increased its stake in the shares of Paylocity Holding Co. (NASDAQ: PCTY – Get a rating) by 1,730.0% in the 1st quarter, according to its most recent communication to the SEC. The institutional investor held 183 shares of the software maker after acquiring an additional 173 shares during the period. Signaturefd LLC’s holdings in Paylocity were worth $38,000 at the end of the last quarter.
Several other institutional investors have also recently bought and sold shares of the stock. Parallel Advisors LLC increased its stake in Paylocity shares by 101.7% in Q1. Parallel Advisors LLC now owns 121 shares of the software maker worth $25,000 after buying 61 additional shares in the last quarter. Covestor Ltd bought a new position in Paylocity shares in Q4 worth $42,000. Masso Torrence Wealth Management Inc. bought a new position in Paylocity stock in Q4 worth $45,000. First Horizon Advisors Inc. increased its stake in Paylocity shares by 211.7% in Q4. First Horizon Advisors Inc. now owns 321 shares of the software maker worth $75,000 after buying 218 more shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Paylocity shares in Q4 worth $78,000. 69.01% of the shares are held by hedge funds and other institutional investors.
Paylocity price performance
Shares of PCTY opened at $205.93 on Friday. Paylocity Holding Co. has a 1-year low of $152.01 and a 1-year high of $314.49. The company has a 50-day moving average of $179.59 and a 200-day moving average of $190.51. The company has a market capitalization of $11.35 billion, a price/earnings ratio of 132.86 and a beta of 1.24.
Paylocity (NASDAQ: PCTY – Get a rating) last released its quarterly results on Thursday, May 5. The software maker reported EPS of $0.79 for the quarter, beating the consensus estimate of $0.59 by $0.20. Paylocity had a net margin of 11.06% and a return on equity of 17.32%. The company posted revenue of $245.97 million in the quarter, versus analyst estimates of $241.64 million. In the same quarter a year earlier, the company posted EPS of $0.67. The company’s quarterly revenue increased by 32.2% compared to the same quarter last year. On average, stock analysts expect Paylocity Holding Co. to post 1.44 earnings per share for the current fiscal year.
Analyst upgrades and downgrades
A number of brokerages have commented on PCTY. Piper Sandler lowered her price target on Paylocity shares from $232.00 to $195.00 and set an “overweight” rating for the company in a Monday, July 18 research note. Cowen lowered his price target on Paylocity shares from $265.00 to $240.00 in a Friday, May 6 research note. Cowen lowered his price target on Paylocity shares from $265.00 to $240.00 in a Friday, May 6 research note. Jefferies Financial Group lowered its price target on Paylocity shares from $255.00 to $200.00 in a Monday, May 23 research note. Finally, Wolfe Research upgraded Paylocity’s shares from a “market performance” rating to an “outperform” rating and raised its price target for the stock from $220.00 to $240.00 in a research note from Friday, April 22. Three equity research analysts gave the stock a hold rating and twelve gave the stock a buy rating. According to data from MarketBeat.com, Paylocity currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.63.
Separately, CEO Steven R. Beauchamp sold 49,658 shares of the company in a transaction dated Friday, July 8. The shares were sold at an average price of $200.00, for a total value of $9,931,600.00. Following the completion of the sale, the CEO now owns 1,780,014 shares of the company, valued at approximately $356,002,800. The transaction was disclosed in an SEC filing, available at the SEC website. In other news, CEO Steven R. Beauchamp sold 49,658 shares of the company in a transaction dated Friday, July 8. The shares were sold at an average price of $200.00, for a total value of $9,931,600.00. Following the completion of the sale, the CEO now owns 1,780,014 shares of the company, valued at approximately $356,002,800. The transaction was disclosed in an SEC filing, available at the SEC website. Also, CAD Nicholas Rost sold 276 shares of the company in a trade dated Wednesday, May 4. The shares were sold at an average price of $200.00, for a total transaction of $55,200.00. Following the completion of the sale, the chief accounting officer now owns 2,816 shares of the company, valued at approximately $563,200. Disclosure of this sale can be found here. During the last quarter, insiders sold 133,719 shares of the company worth $24,939,262. 28.80% of the shares are currently held by company insiders.
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for midsize businesses in the United States. The company offers a payroll and tax services solution to simplify payroll, automate processes and manage compliance requirements within a single system; expense management, pay-on-demand and garnishment solutions; human capital management and employee self-service solutions, document library, compliance dashboard and HR dashboard; a time and attendance solution, which tracks time and attendance data, eliminating the need for manual expense tracking and reducing administrative tasks; timetable tracking services; and time collection devices, including kiosks, time clocks, and mobile and web applications.
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