Entropy Technologies LP Has $858,000 Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Entropy Technologies LP boosted its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 249.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,300 shares of the software maker’s stock after purchasing an additional 3,069 shares during the period. Entropy Technologies LP’s holdings in Paylocity were worth $858,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Empowered Funds LLC increased its position in shares of Paylocity by 31.6% in the fourth quarter. Empowered Funds LLC now owns 11,571 shares of the software maker’s stock valued at $2,308,000 after acquiring an additional 2,776 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Paylocity in the fourth quarter valued at approximately $2,213,000. Y.D. More Investments Ltd increased its position in shares of Paylocity by 10.1% during the 4th quarter. Y.D. More Investments Ltd now owns 13,613 shares of the software maker’s stock worth $2,715,000 after purchasing an additional 1,250 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of Paylocity by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 52,871 shares of the software maker’s stock worth $10,546,000 after purchasing an additional 221 shares in the last quarter. Finally, abrdn plc boosted its holdings in shares of Paylocity by 51.5% in the 4th quarter. abrdn plc now owns 6,730 shares of the software maker’s stock valued at $1,342,000 after buying an additional 2,288 shares during the last quarter. 94.76% of the stock is owned by institutional investors.

Paylocity Trading Down 1.2 %

PCTY stock opened at $209.13 on Wednesday. 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 $11.66 billion, a PE ratio of 53.62, a price-to-earnings-growth ratio of 5.19 and a beta of 0.95. The company’s 50-day simple moving average is $201.33 and its 200 day simple moving average is $182.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32.

Paylocity (NASDAQ:PCTY) last announced its earnings results 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 return on equity of 22.93% and a net margin of 14.76%. As a group, sell-side analysts anticipate that Paylocity Holding Co. will post 4.46 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Andrew Cappotelli sold 247 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $47,742.63. Following the completion of the transaction, the senior vice president now directly owns 14,634 shares in the company, valued at approximately $2,828,605.86. The trade was a 1.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven I. Sarowitz sold 10,237 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $210.10, for a total transaction of $2,150,793.70. Following the sale, the director now directly owns 9,214,115 shares of the company’s stock, valued at approximately $1,935,885,561.50. This trade represents a 0.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,380 shares of company stock worth $25,830,669 in the last 90 days. Company insiders own 21.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PCTY shares. Raymond James restated an “outperform” rating and set a $265.00 target price (up from $215.00) on shares of Paylocity in a report on Friday, February 7th. Piper Sandler restated an “overweight” rating and set a $254.00 price objective (up from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. KeyCorp raised their target price on shares of Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. BMO Capital Markets boosted their price target on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC raised their price objective on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $233.25.

Paylocity Company 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.