Paylocity Holding Co. (NASDAQ:PCTY) Shares Bought by Renaissance Group LLC

Renaissance Group LLC lifted its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 12.4% during the fourth quarter, Holdings Channel reports. The firm owned 19,063 shares of the software maker’s stock after purchasing an additional 2,098 shares during the quarter. Renaissance Group LLC’s holdings in Paylocity were worth $3,802,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Paylocity by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker’s stock valued at $803,745,000 after acquiring an additional 46,183 shares in the last quarter. Invesco Ltd. raised its stake in Paylocity by 31.7% during the 4th quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker’s stock valued at $265,737,000 after purchasing an additional 320,319 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Paylocity by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 1,073,988 shares of the software maker’s stock valued at $214,275,000 after purchasing an additional 25,182 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Paylocity by 0.8% in the fourth quarter. JPMorgan Chase & Co. now owns 863,787 shares of the software maker’s stock worth $172,300,000 after buying an additional 7,251 shares during the period. Finally, FMR LLC grew its holdings in shares of Paylocity by 138.5% during the fourth quarter. FMR LLC now owns 650,599 shares of the software maker’s stock valued at $129,775,000 after buying an additional 377,835 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Stock Performance

Shares of NASDAQ PCTY opened at $172.54 on Wednesday. The firm has a market capitalization of $9.64 billion, a price-to-earnings ratio of 44.24, a PEG ratio of 4.49 and a beta of 0.76. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $223.80. The business has a fifty day simple moving average of $197.69 and a 200 day simple moving average of $193.66. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28.

Paylocity (NASDAQ:PCTY) last announced 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 22.45%. Sell-side analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current year.

Insider Buying and Selling at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.91, for a total value of $5,116,777.32. Following the transaction, the director now directly owns 420,000 shares in the company, valued at $81,862,200. The trade was a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 21.91% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group upped their target price on Paylocity from $240.00 to $255.00 and gave the company a “buy” rating in a report on Friday, February 7th. JMP Securities raised their target price on Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a report on Friday, February 7th. Mizuho upgraded shares of Paylocity from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $200.00 to $235.00 in a research note on Friday, January 31st. TD Cowen cut their price objective on Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Citigroup raised Paylocity from a “neutral” rating to a “buy” rating and raised their target price for the company from $214.00 to $231.00 in a report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Paylocity presently has a consensus 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.