Landscape Capital Management L.L.C. Buys 28,729 Shares of Paylocity Holding Corporation $PCTY

Landscape Capital Management L.L.C. boosted its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 687.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,910 shares of the software maker’s stock after purchasing an additional 28,729 shares during the period. Landscape Capital Management L.L.C. owned approximately 0.06% of Paylocity worth $5,242,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PCTY. Amiral Gestion lifted its holdings in Paylocity by 37.6% in the third quarter. Amiral Gestion now owns 84,703 shares of the software maker’s stock valued at $13,491,000 after acquiring an additional 23,162 shares during the period. Capital Fund Management S.A. bought a new stake in shares of Paylocity during the 2nd quarter valued at about $6,877,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Paylocity during the 3rd quarter valued at about $2,580,000. Prudential Financial Inc. lifted its stake in shares of Paylocity by 342.1% in the 2nd quarter. Prudential Financial Inc. now owns 68,883 shares of the software maker’s stock worth $12,481,000 after purchasing an additional 53,302 shares during the period. Finally, Sawgrass Asset Management LLC bought a new position in shares of Paylocity in the 3rd quarter worth approximately $9,156,000. 94.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PCTY. Citigroup restated an “outperform” rating on shares of Paylocity in a research report on Friday, February 6th. Mizuho dropped their price target on shares of Paylocity from $180.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, February 6th. Stifel Nicolaus cut their price objective on shares of Paylocity from $188.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Barclays set a $146.00 price objective on Paylocity in a research note on Friday, February 6th. Finally, Citizens Jmp lowered their target price on Paylocity from $245.00 to $170.00 and set a “market outperform” rating on the stock in a research report on Friday, February 6th. Fifteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $180.05.

Paylocity Price Performance

Shares of PCTY traded up $1.61 during mid-day trading on Friday, reaching $112.13. The stock had a trading volume of 56,665 shares, compared to its average volume of 874,778. The business has a fifty day moving average of $126.07 and a 200 day moving average of $145.03. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 3.27 and a beta of 0.58. Paylocity Holding Corporation has a 12 month low of $100.50 and a 12 month high of $201.97.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, February 5th. The software maker reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.28. The company had revenue of $416.13 million for the quarter, compared to analysts’ expectations of $408.37 million. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. Paylocity’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.52 EPS. Equities analysts predict that Paylocity Holding Corporation will post 4.36 EPS for the current year.

Paylocity Profile

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.