Dimensional Fund Advisors LP Has $97.28 Million Position in Paylocity Holding Co. (NASDAQ:PCTY)

Dimensional Fund Advisors LP increased its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 9.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 487,662 shares of the software maker’s stock after purchasing an additional 41,955 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.87% of Paylocity worth $97,276,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in PCTY. Barclays PLC boosted its holdings in shares of Paylocity by 14.3% during the third quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock worth $7,407,000 after purchasing an additional 5,609 shares during the period. Tidal Investments LLC boosted its holdings in shares of Paylocity by 207.0% during the third quarter. Tidal Investments LLC now owns 8,836 shares of the software maker’s stock worth $1,458,000 after purchasing an additional 5,958 shares during the period. Lord Abbett & CO. LLC grew its position in Paylocity by 3.2% in the third quarter. Lord Abbett & CO. LLC now owns 287,264 shares of the software maker’s stock worth $47,389,000 after acquiring an additional 8,878 shares in the last quarter. JPMorgan Chase & Co. grew its position in Paylocity by 81.9% in the third 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 in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of 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 during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PCTY shares. JMP Securities upped their price objective on shares of Paylocity from $250.00 to $270.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. UBS Group raised their target price on Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Mizuho cut their target price on Paylocity from $245.00 to $220.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. KeyCorp cut their target price on Paylocity from $250.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, Needham & Company LLC raised their target price on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 7th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.47.

Paylocity Stock Down 0.7 %

PCTY stock opened at $189.82 on Tuesday. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80. The company has a market cap of $10.61 billion, a PE ratio of 48.67, a price-to-earnings-growth ratio of 4.49 and a beta of 0.76. The business’s 50-day simple moving average is $190.10 and its 200 day simple moving average is $195.91. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28.

Paylocity (NASDAQ:PCTY) last released its earnings results 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%. On average, research analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Insider Buying and Selling

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were 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 in the company, valued at $81,862,200. This trade represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 21.91% of the stock is owned by company 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.