Vanguard Group Inc. Boosts Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Vanguard Group Inc. raised its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,029,402 shares of the software maker’s stock after buying an additional 46,183 shares during the period. Vanguard Group Inc. owned about 7.23% of Paylocity worth $803,745,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Certuity LLC purchased a new position in Paylocity during the 4th quarter valued at $232,000. Edgestream Partners L.P. boosted its stake in shares of Paylocity by 222.3% during the third quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock valued at $1,788,000 after purchasing an additional 7,475 shares during the period. Barclays PLC grew its holdings in shares of Paylocity by 14.3% in the third quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock worth $7,407,000 after purchasing an additional 5,609 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Paylocity by 5,742.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker’s stock worth $1,165,000 after buying an additional 5,742 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Paylocity by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker’s stock valued at $46,592,000 after buying an additional 4,697 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Insider Activity at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 23,243 shares of Paylocity stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $191.00, for a total transaction of $4,439,413.00. Following the completion of the sale, the director now owns 470,452 shares of the company’s stock, valued at approximately $89,856,332. The trade was a 4.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 52,095 shares of company stock valued at $10,076,554 in the last three months. 21.91% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. 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 report on Friday, February 7th. Barclays lifted their target price on Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Piper Sandler reissued an “overweight” rating and set a $254.00 price target (up previously from $212.00) on shares of Paylocity in a research report on Thursday, February 6th. TD Cowen decreased their price objective on Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Raymond James reiterated an “outperform” rating and set a $265.00 target price (up from $215.00) on shares of Paylocity in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Paylocity has a consensus rating of “Moderate Buy” and an average price target of $233.25.

Paylocity Price Performance

NASDAQ PCTY opened at $186.33 on Friday. The firm’s fifty day simple moving average is $201.20 and its two-hundred day simple moving average is $192.49. The firm has a market capitalization of $10.41 billion, a P/E ratio of 47.78, a P/E/G ratio of 4.49 and a beta of 0.94. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80.

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

Paylocity Company 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.