Rhumbline Advisers Raises Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Rhumbline Advisers boosted its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 123,643 shares of the software maker’s stock after purchasing an additional 541 shares during the quarter. Rhumbline Advisers’ holdings in Paylocity were worth $24,663,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PCTY. Prospera Private Wealth LLC purchased a new position in shares of Paylocity in the third quarter valued at approximately $39,000. UMB Bank n.a. lifted its position in shares of Paylocity by 41.1% in the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after acquiring an additional 72 shares in the last quarter. Signaturefd LLC lifted its position in shares of Paylocity by 121.0% in the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after acquiring an additional 167 shares in the last quarter. Quarry LP lifted its position in shares of Paylocity by 149.2% in the third quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after acquiring an additional 185 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Paylocity by 43.3% in the fourth quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock valued at $77,000 after acquiring an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PCTY. StockNews.com downgraded Paylocity from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. UBS Group increased their price target on Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Stifel Nicolaus increased their price target on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 7th. Citigroup raised Paylocity from a “neutral” rating to a “buy” rating and increased their price target for the company from $214.00 to $231.00 in a report on Thursday, January 16th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $265.00 price target (up previously from $215.00) on shares of Paylocity in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $233.25.

Insider Activity

In other news, Director Steven I. Sarowitz sold 1,400 shares of Paylocity stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $200.59, for a total value of $280,826.00. Following the completion of the sale, the director now directly owns 8,338,430 shares of the company’s stock, valued at approximately $1,672,605,673.70. The trade was a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey T. Diehl sold 4,513 shares of Paylocity stock in a transaction on Monday, November 25th. The shares were sold at an average price of $209.91, for a total value of $947,323.83. Following the completion of the sale, 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 98,305 shares of company stock valued at $20,130,202. 21.91% of the stock is currently owned by corporate insiders.

Paylocity Price Performance

PCTY stock opened at $212.68 on Thursday. The business has a fifty day moving average of $202.69 and a two-hundred day moving average of $185.10. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of 54.53, a price-to-earnings-growth ratio of 4.72 and a beta of 0.95. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $223.80.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data 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 22.45%. As a group, research analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current 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.