Vanguard Group Inc. Buys 283,430 Shares of Paylocity Holding Corporation (NASDAQ:PCTY)

Vanguard Group Inc. lifted its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 7.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,312,832 shares of the software maker’s stock after acquiring an additional 283,430 shares during the period. Vanguard Group Inc. owned approximately 0.08% of Paylocity worth $807,966,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PCTY. Franklin Resources Inc. increased its position in shares of Paylocity by 11.4% during the fourth quarter. Franklin Resources Inc. now owns 1,710 shares of the software maker’s stock worth $341,000 after acquiring an additional 175 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Paylocity by 7.6% during the fourth quarter. Federated Hermes Inc. now owns 4,955 shares of the software maker’s stock worth $988,000 after acquiring an additional 348 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Paylocity during the fourth quarter worth about $6,818,000. Barclays PLC increased its position in shares of Paylocity by 18.7% during the fourth quarter. Barclays PLC now owns 53,306 shares of the software maker’s stock worth $10,632,000 after acquiring an additional 8,409 shares in the last quarter. Finally, Mariner LLC increased its position in shares of Paylocity by 4.2% during the fourth quarter. Mariner LLC now owns 7,192 shares of the software maker’s stock worth $1,435,000 after acquiring an additional 291 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on PCTY shares. BMO Capital Markets boosted their target price on shares of Paylocity from $226.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 6th. Mizuho cut their price target on shares of Paylocity from $245.00 to $220.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Raymond James Financial set a $220.00 price target on shares of Paylocity and gave the stock an “outperform” rating in a report on Wednesday, July 30th. KeyCorp boosted their price target on shares of Paylocity from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. Finally, UBS Group boosted their price target on shares of Paylocity from $201.00 to $202.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $223.19.

Paylocity Stock Down 0.9%

PCTY opened at $170.69 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.13. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 42.57, a PEG ratio of 3.41 and a beta of 0.54. Paylocity Holding Corporation has a twelve month low of $146.02 and a twelve month high of $223.80. The company’s 50-day moving average price is $182.71 and its two-hundred day moving average price is $190.78.

Paylocity (NASDAQ:PCTY) last released its earnings results on Tuesday, August 5th. The software maker reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.18. The firm had revenue of $400.74 million for the quarter, compared to analysts’ expectations of $388.25 million. Paylocity had a net margin of 14.24% and a return on equity of 22.08%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.48 earnings per share. As a group, equities analysts expect that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

Insider Activity at Paylocity

In related news, SVP Andrew Cappotelli sold 1,717 shares of the company’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $176.74, for a total transaction of $303,462.58. Following the sale, the senior vice president directly owned 11,953 shares in the company, valued at approximately $2,112,573.22. This represents a 12.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.