1,254 Shares in Paylocity Holding Co. (NASDAQ:PCTY) Bought by Donoghue Forlines LLC

Donoghue Forlines LLC acquired a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,254 shares of the software maker’s stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Walleye Capital LLC raised its holdings in shares of Paylocity by 132.0% in the third quarter. Walleye Capital LLC now owns 14,623 shares of the software maker’s stock worth $2,657,000 after acquiring an additional 8,319 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Paylocity by 1.3% in the third quarter. American Century Companies Inc. now owns 351,666 shares of the software maker’s stock worth $63,898,000 after acquiring an additional 4,633 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Paylocity by 94.0% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 14,059 shares of the software maker’s stock worth $2,555,000 after acquiring an additional 6,812 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Paylocity by 0.6% in the third quarter. Vanguard Group Inc. now owns 4,144,262 shares of the software maker’s stock worth $753,012,000 after acquiring an additional 25,562 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Paylocity by 1.7% in the third quarter. Public Employees Retirement System of Ohio now owns 45,448 shares of the software maker’s stock worth $8,258,000 after acquiring an additional 749 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Paylocity Stock Performance

Shares of PCTY stock traded up $4.03 during trading hours on Tuesday, reaching $150.96. The company had a trading volume of 136,416 shares, compared to its average volume of 524,709. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $230.52. The company has a market capitalization of $8.52 billion, a P/E ratio of 42.71, a price-to-earnings-growth ratio of 2.40 and a beta of 0.93. The stock’s fifty day simple moving average is $146.78 and its 200 day simple moving average is $158.13.

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

Insider Activity at Paylocity

In related news, CAO Nicholas Rost sold 331 shares of the 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 owns 4,751 shares of the company’s stock, valued at $659,106.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 22.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PCTY. Stifel Nicolaus cut their price target on Paylocity from $205.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Barclays lifted their price objective on Paylocity from $166.00 to $178.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. KeyCorp lifted their price objective on Paylocity from $186.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Paylocity in a research report on Friday, May 3rd. Finally, Piper Sandler lowered their price objective on Paylocity from $210.00 to $194.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $190.65.

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.