Geode Capital Management LLC Purchases 25,182 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Geode Capital Management LLC grew its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,073,988 shares of the software maker’s stock after buying an additional 25,182 shares during the quarter. Geode Capital Management LLC owned 1.93% of Paylocity worth $214,275,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. SBI Securities Co. Ltd. bought a new stake in Paylocity during the 4th quarter valued at about $29,000. UMB Bank n.a. grew its position in shares of Paylocity by 41.1% during the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after buying an additional 72 shares in the last quarter. Quarry LP increased its stake in shares of Paylocity by 149.2% during the third quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after buying an additional 185 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Paylocity by 489.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $54,000 after acquiring an additional 225 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock worth $55,000 after acquiring an additional 63 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the completion of the transaction, the director now owns 420,000 shares of the company’s stock, valued at $81,862,200. This represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 21.91% of the stock is owned by corporate insiders.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $174.88 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. The firm’s 50 day simple moving average is $199.66 and its 200-day simple moving average is $193.65. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $223.80. The stock has a market capitalization of $9.77 billion, a price-to-earnings ratio of 44.84, a PEG ratio of 4.49 and a beta of 0.76.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. Analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. TD Cowen lowered their target price on Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a report on Monday, January 6th. Stifel Nicolaus 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. Mizuho upgraded shares of Paylocity from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $200.00 to $235.00 in a report on Friday, January 31st. Needham & Company LLC raised their price target on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, StockNews.com lowered Paylocity from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Paylocity currently has an average rating of “Moderate Buy” and an average target price 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.