Summit Trail Advisors LLC Invests $400,000 in Paylocity Holding Co. (NASDAQ:PCTY)

Summit Trail Advisors LLC bought a new stake in Paylocity Holding Co. (NASDAQ:PCTY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,005 shares of the software maker’s stock, valued at approximately $400,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PCTY. UMB Bank n.a. lifted its stake in shares of Paylocity by 1,650.0% in the third quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after buying an additional 165 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Paylocity in the 3rd quarter valued at about $39,000. Signaturefd LLC boosted its stake in Paylocity by 121.0% during the 3rd quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after purchasing an additional 167 shares during the last quarter. Quarry LP increased its holdings in Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after purchasing an additional 185 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Paylocity by 43.3% during the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock worth $77,000 after purchasing an additional 116 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PCTY has been the topic of several analyst reports. TD Cowen cut their target price on Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Jefferies Financial Group lifted their price objective on shares of Paylocity from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Needham & Company LLC increased their target price on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 7th. Raymond James restated an “outperform” rating and set a $265.00 price target (up from $215.00) on shares of Paylocity in a report on Friday, February 7th. Finally, UBS Group increased their price objective on shares of Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $233.25.

Paylocity Price Performance

NASDAQ PCTY opened at $214.10 on Thursday. The company has a market cap of $11.94 billion, a PE ratio of 54.90, a price-to-earnings-growth ratio of 5.19 and a beta of 0.95. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. The firm’s 50-day simple moving average is $201.36 and its two-hundred day simple moving average is $182.58. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80.

Paylocity (NASDAQ:PCTY) last announced 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 net margin of 14.76% and a return on equity of 22.93%. Research analysts predict that Paylocity Holding Co. will post 4.46 earnings per share for the current year.

Insider Activity

In other news, Director Jeffrey T. Diehl sold 946 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $204.74, for a total value of $193,684.04. Following the transaction, the director now owns 1,767 shares of the company’s stock, valued at approximately $361,775.58. This represents a 34.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Nicholas Rost sold 212 shares of Paylocity stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $40,977.48. Following the sale, the chief accounting officer now directly owns 7,364 shares of the company’s stock, valued at $1,423,387.56. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 127,380 shares of company stock worth $25,830,669. 21.91% of the stock is owned by corporate insiders.

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.