Westfield Capital Management Co. LP Has $79.63 Million Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Westfield Capital Management Co. LP lifted its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTYFree Report) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 483,015 shares of the software maker’s stock after purchasing an additional 10,498 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Paylocity were worth $79,625,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCTY. Montanaro Asset Management Ltd lifted its position in shares of Paylocity by 16.7% during the 4th quarter. Montanaro Asset Management Ltd now owns 35,000 shares of the software maker’s stock valued at $5,770,000 after acquiring an additional 5,000 shares during the period. Renaissance Group LLC increased its holdings in Paylocity by 21.2% in the 4th quarter. Renaissance Group LLC now owns 11,080 shares of the software maker’s stock valued at $1,827,000 after buying an additional 1,935 shares during the period. Quest Partners LLC acquired a new position in shares of Paylocity in the 4th quarter valued at approximately $163,000. Clearbridge Investments LLC lifted its holdings in shares of Paylocity by 2,212.5% during the 4th quarter. Clearbridge Investments LLC now owns 381,952 shares of the software maker’s stock worth $62,965,000 after acquiring an additional 365,435 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Paylocity by 274.8% during the 4th quarter. Wells Fargo & Company MN now owns 65,010 shares of the software maker’s stock worth $10,717,000 after acquiring an additional 47,663 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Paylocity

In related news, CEO Steven R. Beauchamp sold 7,760 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $166.95, for a total transaction of $1,295,532.00. Following the completion of the sale, the chief executive officer now directly owns 1,746,468 shares of the company’s stock, valued at $291,572,832.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Steven R. Beauchamp sold 7,760 shares of Paylocity stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $166.95, for a total value of $1,295,532.00. Following the sale, the chief executive officer now owns 1,746,468 shares of the company’s stock, valued at approximately $291,572,832.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey T. Diehl sold 20,032 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $168.55, for a total value of $3,376,393.60. Following the completion of the transaction, the director now owns 16,391 shares in the company, valued at approximately $2,762,703.05. The disclosure for this sale can be found here. Insiders have sold 30,043 shares of company stock worth $5,056,642 in the last 90 days. Insiders own 22.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on PCTY shares. Barclays boosted their price objective on shares of Paylocity from $166.00 to $178.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. BTIG Research initiated coverage on Paylocity in a research note on Tuesday, February 6th. They set a “buy” rating and a $200.00 target price for the company. Piper Sandler decreased their price target on shares of Paylocity from $210.00 to $194.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Mizuho cut their target price on shares of Paylocity from $170.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, February 9th. Finally, Truist Financial lowered their price target on shares of Paylocity from $250.00 to $200.00 and set a “buy” rating for the company in a report on Friday, February 9th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Paylocity presently has an average rating of “Moderate Buy” and an average target price of $196.40.

Read Our Latest Report on PCTY

Paylocity Stock Performance

Shares of Paylocity stock traded down $10.55 on Friday, hitting $153.64. The company had a trading volume of 761,103 shares, compared to its average volume of 610,276. The stock has a market capitalization of $8.67 billion, a price-to-earnings ratio of 44.66, a P/E/G ratio of 2.88 and a beta of 0.88. Paylocity Holding Co. has a 1 year low of $139.40 and a 1 year high of $230.52. The stock has a 50 day moving average of $165.39 and a 200-day moving average of $162.60.

Paylocity (NASDAQ:PCTYGet Free Report) last posted its earnings results on Thursday, May 2nd. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.29. Paylocity had a net margin of 14.42% and a return on equity of 22.08%. The firm had revenue of $401.28 million during the quarter, compared to analyst estimates of $396.93 million. Equities analysts anticipate that Paylocity Holding Co. will post 3.85 earnings per share for the current year.

Paylocity Profile

(Free Report)

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.

See Also

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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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