Burns Matteson Capital Management LLC Takes Position in Paylocity Holding Co. (NASDAQ:PCTY)

Burns Matteson Capital Management LLC acquired a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,109 shares of the software maker’s stock, valued at approximately $421,000.

Several other large investors have also bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in shares of Paylocity by 81.9% during the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock worth $141,303,000 after buying an additional 385,625 shares during the last quarter. Point72 Asset Management L.P. grew its position in Paylocity by 283.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock worth $51,101,000 after acquiring an additional 229,057 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Paylocity by 297.6% in the 3rd quarter. Victory Capital Management Inc. now owns 119,560 shares of the software maker’s stock worth $19,724,000 after purchasing an additional 89,487 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Paylocity by 113.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 96,406 shares of the software maker’s stock valued at $15,904,000 after purchasing an additional 51,276 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Paylocity by 1,896.9% during the third quarter. Assenagon Asset Management S.A. now owns 47,966 shares of the software maker’s stock valued at $7,913,000 after purchasing an additional 45,564 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Paylocity Price Performance

Shares of PCTY opened at $205.84 on Monday. The stock has a market cap of $11.48 billion, a P/E ratio of 52.78, a P/E/G ratio of 5.19 and a beta of 0.95. The business’s fifty day moving average is $201.28 and its 200 day moving average is $181.43. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.93%. Sell-side analysts anticipate that Paylocity Holding Co. will post 4.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 10,237 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $210.10, for a total value of $2,150,793.70. Following the completion of the sale, the director now owns 9,214,115 shares in the company, valued at approximately $1,935,885,561.50. This trade represents a 0.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Nicholas Rost sold 212 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total value of $40,977.48. Following the completion of the transaction, the chief accounting officer now owns 7,364 shares in the company, valued at $1,423,387.56. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,380 shares of company stock valued at $25,830,669. Corporate insiders own 21.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PCTY. Stifel Nicolaus lifted their target price on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday. TD Cowen cut their target price on Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Raymond James reissued an “outperform” rating and issued a $265.00 price target (up previously from $215.00) on shares of Paylocity in a research note on Friday. JMP Securities upped their target price on Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a report on Friday. Finally, Piper Sandler restated an “overweight” rating and set a $254.00 price target (up previously from $212.00) on shares of Paylocity in a report on Thursday. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Paylocity 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.