Paylocity Holding Co. (NASDAQ:PCTY) Shares Purchased by Leelyn Smith LLC

Leelyn Smith LLC boosted its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 9.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,396 shares of the software maker’s stock after purchasing an additional 815 shares during the quarter. Leelyn Smith LLC’s holdings in Paylocity were worth $1,874,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in PCTY. JPMorgan Chase & Co. grew its holdings in shares of Paylocity by 81.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock worth $141,303,000 after acquiring an additional 385,625 shares during the period. Point72 Asset Management L.P. boosted its position in Paylocity by 283.8% during the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock worth $51,101,000 after purchasing an additional 229,057 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Paylocity by 297.6% in the third quarter. Victory Capital Management Inc. now owns 119,560 shares of the software maker’s stock valued at $19,724,000 after purchasing an additional 89,487 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of 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 buying an additional 51,276 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Paylocity by 19.3% during the 3rd quarter. FMR LLC now owns 272,764 shares of the software maker’s stock worth $44,998,000 after buying an additional 44,118 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. JMP Securities increased their price objective on shares of Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. Jefferies Financial Group increased their price target on shares of Paylocity from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Raymond James restated an “outperform” rating and set a $265.00 price objective (up from $215.00) on shares of Paylocity in a research report on Friday, February 7th. Piper Sandler reiterated an “overweight” rating and set a $254.00 target price (up previously from $212.00) on shares of Paylocity in a report on Thursday, February 6th. Finally, Needham & Company LLC boosted their price target on Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $233.25.

Paylocity Stock Up 2.2 %

Shares of NASDAQ:PCTY opened at $190.26 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. The firm has a market cap of $10.63 billion, a price-to-earnings ratio of 48.78, a PEG ratio of 4.49 and a beta of 0.94. The stock’s 50-day moving average price is $201.71 and its two-hundred day moving average price is $190.63. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80.

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

Insider Buying and Selling at Paylocity

In related news, Director Steven I. Sarowitz sold 1,400 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $200.59, for a total value of $280,826.00. Following the transaction, the director now directly owns 8,338,430 shares of the company’s stock, valued at approximately $1,672,605,673.70. This trade represents a 0.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 7,083 shares of company stock worth $1,420,041 in the last quarter. 21.91% of the stock is owned by insiders.

About Paylocity

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.