Paylocity Holding Co. (NASDAQ:PCTY) Stock Holdings Raised by Gallacher Capital Management LLC

Gallacher Capital Management LLC raised its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 4.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,989 shares of the software maker’s stock after purchasing an additional 88 shares during the period. Gallacher Capital Management LLC’s holdings in Paylocity were worth $397,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in shares of Paylocity in the 4th quarter worth about $29,000. Prospera Private Wealth LLC acquired a new position in shares of Paylocity in the 3rd quarter valued at about $39,000. UMB Bank n.a. boosted its holdings in shares of Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after buying an additional 72 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Paylocity by 489.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $54,000 after buying an additional 225 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Paylocity by 29.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock valued at $55,000 after buying an additional 63 shares during the period. Institutional investors own 94.76% of the company’s stock.

Paylocity Stock Up 1.7 %

PCTY stock opened at $186.24 on Friday. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80. The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of 47.75, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. The firm’s 50-day moving average is $201.95 and its two-hundred day moving average is $190.22. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. On average, analysts forecast that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Steven I. Sarowitz sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $200.14, for a total value of $520,364.00. Following the sale, the director now directly owns 8,332,347 shares in the company, valued at $1,667,635,928.58. The trade was a 0.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 18,566 shares of company stock worth $3,755,321 in the last ninety days. 21.91% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on PCTY shares. Needham & Company LLC lifted their price target on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 7th. Citigroup raised shares of Paylocity from a “neutral” rating to a “buy” rating and lifted their price target for the company from $214.00 to $231.00 in a report on Thursday, January 16th. Mizuho raised shares of Paylocity from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $200.00 to $235.00 in a report on Friday, January 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $254.00 price target (up from $212.00) on shares of Paylocity in a report on Thursday, February 6th. Finally, Jefferies Financial Group boosted their target price on shares of Paylocity from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.25.

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.