Paylocity Holding Co. (NASDAQ:PCTY) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 162.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,623 shares of the software maker’s stock after buying an additional 21,432 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of Paylocity worth $6,906,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PCTY. SBI Securities Co. Ltd. acquired a new position in Paylocity during the fourth quarter worth $29,000. Prospera Private Wealth LLC acquired a new position in shares of Paylocity during the 3rd quarter worth about $39,000. UMB Bank n.a. lifted its stake in Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after buying an additional 72 shares in the last quarter. Quarry LP boosted its holdings in Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after buying an additional 185 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Paylocity by 489.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock worth $54,000 after buying an additional 225 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PCTY has been the topic of several research reports. UBS Group raised their target price on Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Jefferies Financial Group lifted their target price on shares of Paylocity from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Citigroup upgraded shares of Paylocity from a “neutral” rating to a “buy” rating and increased their target price for the company from $214.00 to $231.00 in a research report on Thursday, January 16th. Mizuho raised shares of Paylocity from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $200.00 to $235.00 in a research note on Friday, January 31st. Finally, Barclays raised their target price on shares of Paylocity from $214.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $233.25.

Paylocity Trading Up 1.7 %

Shares of PCTY stock opened at $186.24 on Friday. The company has a 50-day moving average of $201.95 and a two-hundred day moving average of $190.22. The firm has a market cap of $10.41 billion, a PE ratio of 47.75, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14.

Paylocity (NASDAQ:PCTY) last announced its earnings results 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%. On average, analysts predict 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 11,473 shares of Paylocity stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $203.37, for a total value of $2,333,264.01. Following the completion of the transaction, the director now owns 8,344,545 shares in the company, valued at approximately $1,697,030,116.65. The trade was a 0.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 18,566 shares of company stock valued at $3,755,321 in the last three months. 21.91% of the stock is owned by corporate insiders.

Paylocity Company 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.