Thrivent Financial for Lutherans Grows Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Thrivent Financial for Lutherans raised its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 124.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 22,874 shares of the software maker’s stock after purchasing an additional 12,691 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Paylocity were worth $4,563,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in Paylocity by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock worth $173,053,000 after buying an additional 36,590 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Paylocity by 81.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock worth $141,303,000 after acquiring an additional 385,625 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Paylocity by 3.5% in the 3rd quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock valued at $85,444,000 after purchasing an additional 17,560 shares in the last quarter. GW&K Investment Management LLC grew its holdings in shares of Paylocity by 0.6% during the 4th quarter. GW&K Investment Management LLC now owns 381,010 shares of the software maker’s stock valued at $76,000,000 after purchasing an additional 2,193 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in Paylocity by 283.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock worth $51,101,000 after purchasing an additional 229,057 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Stock Up 2.2 %

Shares of NASDAQ:PCTY opened at $196.16 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $223.80. The firm has a market capitalization of $10.96 billion, a P/E ratio of 50.30, a P/E/G ratio of 4.49 and a beta of 0.94. The stock has a 50 day moving average price of $201.56 and a 200-day moving average price of $191.74.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. As a group, equities research analysts anticipate that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on PCTY shares. TD Cowen cut their price target on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Monday, January 6th. JMP Securities raised their price target on Paylocity from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research report on Friday, February 7th. Needham & Company LLC increased their price objective on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Barclays lifted their target price on shares of Paylocity from $214.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Finally, KeyCorp increased their price target on shares of Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $233.25.

Insider Buying and Selling at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 3,083 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $200.73, for a total transaction of $618,850.59. Following the completion of the sale, the director now directly owns 8,335,347 shares in the company, valued at $1,673,154,203.31. The trade was a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 28,926 shares of company stock worth $5,578,628. Insiders own 21.91% of the company’s stock.

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.