RiverPark Advisors LLC Increases Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

RiverPark Advisors LLC grew its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 152.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 383 shares of the software maker’s stock after buying an additional 231 shares during the quarter. RiverPark Advisors LLC’s holdings in Paylocity were worth $66,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. WCM Investment Management LLC boosted its stake in shares of Paylocity by 2.3% in the 1st quarter. WCM Investment Management LLC now owns 3,053 shares of the software maker’s stock valued at $525,000 after buying an additional 69 shares during the period. Avior Wealth Management LLC boosted its stake in shares of Paylocity by 2.4% in the 4th quarter. Avior Wealth Management LLC now owns 3,223 shares of the software maker’s stock valued at $531,000 after buying an additional 76 shares during the period. Shaker Investments LLC OH boosted its stake in shares of Paylocity by 0.3% in the 4th quarter. Shaker Investments LLC OH now owns 23,672 shares of the software maker’s stock valued at $3,902,000 after buying an additional 77 shares during the period. Seven Eight Capital LP boosted its stake in shares of Paylocity by 4.9% in the 3rd quarter. Seven Eight Capital LP now owns 1,658 shares of the software maker’s stock valued at $301,000 after buying an additional 78 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Paylocity by 34.7% in the 1st quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock valued at $52,000 after buying an additional 78 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

PCTY has been the topic of several research analyst reports. Robert W. Baird cut their target price on Paylocity from $225.00 to $195.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 price target on shares of Paylocity in a research report on Friday, May 3rd. KeyCorp boosted their target price on Paylocity from $186.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Stifel Nicolaus dropped their target price on Paylocity from $205.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Finally, TD Cowen dropped their target price on Paylocity from $180.00 to $153.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $190.65.

Insider Activity

In related news, CAO Nicholas Rost sold 331 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $138.73, for a total value of $45,919.63. Following the completion of the transaction, the chief accounting officer now directly owns 4,751 shares in the company, valued at $659,106.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 22.50% of the company’s stock.

Paylocity Trading Up 0.5 %

Shares of NASDAQ:PCTY traded up $0.71 on Tuesday, hitting $134.01. The company had a trading volume of 459,049 shares, compared to its average volume of 527,520. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $230.52. The business has a 50 day moving average of $148.35 and a 200 day moving average of $158.96. The company has a market cap of $7.56 billion, a PE ratio of 38.96, a PEG ratio of 2.31 and a beta of 0.92.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, May 2nd. The software maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.29. Paylocity had a return on equity of 22.08% and a net margin of 14.42%. The business had revenue of $401.28 million for the quarter, compared to the consensus estimate of $396.93 million. As a group, equities analysts predict that Paylocity Holding Co. will post 3.95 EPS for the current year.

About Paylocity

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.