CANADA LIFE ASSURANCE Co Has $10.48 Million Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

CANADA LIFE ASSURANCE Co lifted its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 13.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,997 shares of the software maker’s stock after purchasing an additional 7,144 shares during the period. CANADA LIFE ASSURANCE Co owned 0.11% of Paylocity worth $10,484,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PCTY. UniSuper Management Pty Ltd boosted its stake in shares of Paylocity by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 600 shares of the software maker’s stock worth $103,000 after acquiring an additional 300 shares in the last quarter. Seven Eight Capital LP acquired a new position in Paylocity during the first quarter valued at approximately $348,000. Covestor Ltd raised its position in shares of Paylocity by 30.7% in the first quarter. Covestor Ltd now owns 1,246 shares of the software maker’s stock valued at $214,000 after purchasing an additional 293 shares during the period. Summit Creek Advisors LLC raised its position in shares of Paylocity by 0.7% in the first quarter. Summit Creek Advisors LLC now owns 131,513 shares of the software maker’s stock valued at $22,602,000 after purchasing an additional 865 shares during the period. Finally, J.Safra Asset Management Corp lifted its stake in shares of Paylocity by 80.0% in the first quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock worth $42,000 after buying an additional 108 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on PCTY shares. Stifel Nicolaus dropped their target price on shares of Paylocity from $205.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Robert W. Baird decreased their target price on Paylocity from $225.00 to $195.00 and set an “outperform” rating for the company in a research note on Tuesday, June 18th. Piper Sandler dropped their price target on Paylocity from $210.00 to $194.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and issued a $200.00 price objective on shares of Paylocity in a research report on Friday, May 3rd. Finally, KeyCorp dropped their target price on shares of Paylocity from $200.00 to $171.00 and set an “overweight” rating on the stock in a research report on Friday, July 19th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $187.88.

Insider Transactions at Paylocity

In related news, CAO Nicholas Rost sold 331 shares of Paylocity stock in a transaction dated 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 of the company’s stock, valued at $659,106.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Paylocity news, CAO Nicholas Rost sold 331 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $138.73, for a total value of $45,919.63. Following the completion of the sale, the chief accounting officer now owns 4,751 shares in the company, valued at approximately $659,106.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ryan Glenn sold 1,400 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $140.06, for a total transaction of $196,084.00. Following the transaction, the chief financial officer now owns 31,074 shares in the company, valued at $4,352,224.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,173 shares of company stock worth $7,296,388. Insiders own 22.50% of the company’s stock.

Paylocity Trading Up 3.7 %

Shares of PCTY opened at $147.60 on Friday. The stock has a 50 day simple moving average of $142.69 and a 200-day simple moving average of $157.15. The stock has a market cap of $8.33 billion, a PE ratio of 42.91, a PEG ratio of 2.46 and a beta of 0.92. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $230.52.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings results 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. The firm had revenue of $401.28 million during the quarter, compared to the consensus estimate of $396.93 million. Paylocity had a net margin of 14.42% and a return on equity of 22.08%. On average, sell-side analysts forecast that Paylocity Holding Co. will post 3.95 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.