Linden Thomas Advisory Services LLC Acquires 136 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Linden Thomas Advisory Services LLC grew its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,756 shares of the software maker’s stock after acquiring an additional 136 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Paylocity were worth $1,279,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new stake in Paylocity in the fourth quarter worth approximately $82,172,000. Liontrust Investment Partners LLP purchased a new stake in Paylocity in the third quarter worth approximately $90,181,000. Comerica Bank purchased a new stake in Paylocity in the third quarter worth approximately $18,506,000. Westfield Capital Management Co. LP boosted its stake in Paylocity by 26.8% in the third quarter. Westfield Capital Management Co. LP now owns 472,517 shares of the software maker’s stock worth $85,856,000 after buying an additional 99,781 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in Paylocity in the third quarter worth approximately $17,262,000. Institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Truist Financial dropped their price objective on Paylocity from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, February 9th. Piper Sandler upped their target price on Paylocity from $207.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, February 9th. KeyCorp decreased their target price on Paylocity from $197.00 to $186.00 and set an “overweight” rating for the company in a report on Friday, February 9th. JMP Securities restated a “market outperform” rating and set a $250.00 target price on shares of Paylocity in a report on Monday, January 22nd. Finally, BTIG Research started coverage on Paylocity in a report on Tuesday, February 6th. They issued a “buy” rating and a $200.00 price objective for the company. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.13.

Insiders Place Their Bets

In other news, CEO Steven R. Beauchamp sold 7,760 shares of Paylocity stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $166.95, for a total transaction of $1,295,532.00. Following the transaction, the chief executive officer now directly owns 1,746,468 shares of the company’s stock, valued at approximately $291,572,832.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Steven R. Beauchamp sold 7,760 shares of Paylocity stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $166.95, for a total transaction of $1,295,532.00. Following the transaction, the chief executive officer now directly owns 1,746,468 shares of the company’s stock, valued at approximately $291,572,832.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven I. Sarowitz sold 24,504 shares of Paylocity stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $175.47, for a total value of $4,299,716.88. Following the transaction, the director now directly owns 9,587,872 shares in the company, valued at $1,682,383,899.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,547 shares of company stock valued at $9,356,359. Insiders own 22.50% of the company’s stock.

Paylocity Price Performance

Paylocity stock opened at $156.16 on Thursday. Paylocity Holding Co. has a one year low of $139.40 and a one year high of $230.52. The stock has a market capitalization of $8.80 billion, a PE ratio of 52.76, a price-to-earnings-growth ratio of 3.44 and a beta of 0.87. The business’s fifty day moving average is $167.94 and its 200 day moving average is $165.42.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, February 8th. The software maker reported $0.71 EPS for the quarter, beating the consensus estimate of $0.63 by $0.08. The company had revenue of $326.36 million for the quarter, compared to analysts’ expectations of $324.34 million. Paylocity had a return on equity of 21.37% and a net margin of 12.96%. As a group, sell-side analysts expect that Paylocity Holding Co. will post 3.48 EPS for the current fiscal year.

Paylocity Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.