Empowered Funds LLC Purchases 2,776 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Empowered Funds LLC grew its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 31.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,571 shares of the software maker’s stock after acquiring an additional 2,776 shares during the quarter. Empowered Funds LLC’s holdings in Paylocity were worth $2,308,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Prospera Private Wealth LLC bought a new position in shares of Paylocity in the 3rd quarter worth approximately $39,000. UMB Bank n.a. lifted its stake in shares of Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after purchasing an additional 72 shares during the period. Signaturefd LLC lifted its stake in shares of Paylocity by 121.0% in the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock worth $50,000 after purchasing an additional 167 shares during the period. Quarry LP lifted its stake in shares of Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after purchasing an additional 185 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Paylocity by 43.3% in the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock worth $77,000 after purchasing an additional 116 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Trading Down 0.3 %

PCTY stock opened at $216.96 on Friday. The firm has a fifty day moving average price of $201.72 and a 200 day moving average price of $183.04. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market cap of $12.13 billion, a PE ratio of 55.63, a price-to-earnings-growth ratio of 5.19 and a beta of 0.95.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.93%. Sell-side analysts anticipate that Paylocity Holding Co. will post 4.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PCTY has been the topic of several recent research reports. Needham & Company LLC increased their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. UBS Group raised their target price on shares of Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. JMP Securities raised their target price on shares of Paylocity from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research note on Friday, February 7th. StockNews.com cut shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, KeyCorp raised their target price on shares of Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.25.

Insider Activity at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 10,237 shares of Paylocity stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $210.10, for a total transaction of $2,150,793.70. Following the completion of the transaction, the director now directly owns 9,214,115 shares of the company’s stock, valued at $1,935,885,561.50. The trade was a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey T. Diehl sold 4,513 shares of Paylocity stock in a transaction on Monday, November 25th. The stock was sold at an average price of $209.91, for a total transaction of $947,323.83. Following the transaction, the director now directly owns 1,003 shares of the company’s stock, valued at $210,539.73. The trade was a 81.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 126,434 shares of company stock valued at $25,636,985. 21.91% of the stock is owned by corporate insiders.

Paylocity Profile

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.