3,835 Shares of Paylocity Holding Corporation $PCTY Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Paylocity Holding Corporation (NASDAQ:PCTY) in the third quarter, HoldingsChannel reports. The firm acquired 3,835 shares of the software maker’s stock, valued at approximately $547,000.

A number of other hedge funds have also recently bought and sold shares of PCTY. Optiver Holding B.V. lifted its stake in shares of Paylocity by 5,925.0% during the 1st quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock worth $26,000 after purchasing an additional 237 shares during the period. Global Retirement Partners LLC purchased a new stake in Paylocity in the 2nd quarter valued at about $27,000. Basecamp Wealth Advisors LLC lifted its holdings in shares of Paylocity by 4,250.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock worth $28,000 after acquiring an additional 255 shares during the period. Elevation Wealth Partners LLC boosted its position in shares of Paylocity by 500.0% in the second quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker’s stock worth $36,000 after acquiring an additional 285 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in Paylocity by 58.8% in the first quarter. Parallel Advisors LLC now owns 451 shares of the software maker’s stock valued at $49,000 after purchasing an additional 167 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PCTY. Jefferies Financial Group reaffirmed a “buy” rating and set a $165.00 price target on shares of Paylocity in a research note on Wednesday, August 5th. Guggenheim lifted their price objective on Paylocity from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Wall Street Zen upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a report on Saturday. Barclays increased their price objective on shares of Paylocity from $162.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, UBS Group set a $175.00 target price on shares of Paylocity in a report on Tuesday, September 29th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $177.82.

Insider Buying and Selling at Paylocity

In other news, Director Steven Sarowitz sold 19,459 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $157.78, for a total transaction of $3,070,241.02. Following the completion of the transaction, the director owned 4,453,495 shares in the company, valued at approximately $702,672,441.10. This represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Steven R. Beauchamp sold 15,000 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $165.22, for a total transaction of $2,478,300.00. Following the transaction, the chairman directly owned 1,243,389 shares of the company’s stock, valued at $205,432,730.58. The trade was a 1.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 151,704 shares of company stock valued at $25,137,741. Corporate insiders own 20.10% of the company’s stock.

Paylocity Stock Performance

Shares of PCTY opened at $177.81 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $181.57. The business’s fifty day moving average price is $156.50 and its 200 day moving average price is $127.63. The stock has a market capitalization of $9.28 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 2.03 and a beta of 0.43.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, November 5th. The software maker reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.16. The company had revenue of $451.67 million for the quarter, compared to the consensus estimate of $443.12 million. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the firm posted $1.75 EPS. Equities research analysts forecast that Paylocity Holding Corporation will post 6.94 EPS for the current year.

Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software to businesses in the United States. Its platform brings together tools that help employers manage payroll, human resources, benefits, and workforce operations.

Products and services include payroll processing, benefits administration, time and labor management, talent acquisition and development, employee communications, and expense management. The platform is designed to help organizations streamline administrative work and support employees and managers through a unified system.

Founded in 1997 by Steve Sarowitz, Paylocity is headquartered in Schaumburg, Illinois.