Fmr LLC raised its position in shares of Paylocity Holding Corp (NASDAQ:PCTY) by 19.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 846,032 shares of the software maker’s stock after purchasing an additional 138,231 shares during the quarter. Fmr LLC owned 1.60% of Paylocity worth $50,940,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Morgan Stanley grew its stake in Paylocity by 59.7% during the 3rd quarter. Morgan Stanley now owns 199,782 shares of the software maker’s stock valued at $16,046,000 after purchasing an additional 74,689 shares during the last quarter. Jane Street Group LLC purchased a new stake in Paylocity during the 3rd quarter valued at about $265,000. Wells Fargo & Company MN grew its stake in Paylocity by 6.4% during the 3rd quarter. Wells Fargo & Company MN now owns 14,809 shares of the software maker’s stock valued at $1,189,000 after purchasing an additional 886 shares during the last quarter. Chartwell Investment Partners LLC grew its stake in Paylocity by 3.2% during the 4th quarter. Chartwell Investment Partners LLC now owns 51,839 shares of the software maker’s stock valued at $3,121,000 after purchasing an additional 1,606 shares during the last quarter. Finally, First Quadrant L P CA grew its stake in Paylocity by 460.3% during the 4th quarter. First Quadrant L P CA now owns 1,496 shares of the software maker’s stock valued at $90,000 after purchasing an additional 1,229 shares during the last quarter. Institutional investors and hedge funds own 64.95% of the company’s stock.
PCTY has been the topic of several research analyst reports. Zacks Investment Research downgraded Paylocity from a “hold” rating to a “sell” rating in a research note on Wednesday, December 19th. Raymond James boosted their price target on Paylocity from $75.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, February 7th. SunTrust Banks boosted their price target on Paylocity to $83.00 and gave the company a “positive” rating in a research note on Tuesday, February 5th. Craig Hallum boosted their price target on Paylocity from $65.00 to $78.00 and gave the company a “hold” rating in a research note on Thursday, February 7th. Finally, BidaskClub upgraded Paylocity from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 25th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $79.93.
In related news, insider Michael R. Haske sold 50,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $86.34, for a total value of $4,317,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Edward W. Gaty sold 11,281 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $87.00, for a total value of $981,447.00. The disclosure for this sale can be found here. Insiders sold a total of 882,481 shares of company stock valued at $75,511,619 in the last ninety days. 41.20% of the stock is currently owned by insiders.
Shares of PCTY stock opened at $90.27 on Wednesday. The stock has a market capitalization of $4.73 billion, a PE ratio of 291.19, a P/E/G ratio of 8.10 and a beta of 2.09. Paylocity Holding Corp has a 52-week low of $51.18 and a 52-week high of $93.62.
Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Wednesday, February 6th. The software maker reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.11). The company had revenue of $107.20 million during the quarter, compared to analyst estimates of $104.68 million. Paylocity had a net margin of 12.81% and a return on equity of 13.43%. The business’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same period last year, the firm earned $0.16 EPS. Sell-side analysts expect that Paylocity Holding Corp will post 0.54 earnings per share for the current year.
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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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