Chicago Equity Partners LLC bought a new stake in Paylocity Holding Corp (NASDAQ:PCTY) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 37,210 shares of the software maker’s stock, valued at approximately $2,989,000. Chicago Equity Partners LLC owned about 0.07% of Paylocity at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Cutler Group LP bought a new position in Paylocity in the second quarter valued at about $100,000. Tower Research Capital LLC TRC bought a new position in Paylocity in the second quarter valued at about $102,000. NumerixS Investment Technologies Inc raised its position in Paylocity by 2,000.0% in the second quarter. NumerixS Investment Technologies Inc now owns 2,100 shares of the software maker’s stock valued at $124,000 after purchasing an additional 2,000 shares during the last quarter. Acadian Asset Management LLC bought a new position in Paylocity in the third quarter valued at about $143,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in Paylocity in the second quarter valued at about $200,000. Hedge funds and other institutional investors own 65.17% of the company’s stock.
In related news, Director Steven I. Sarowitz sold 144,124 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $64.75, for a total transaction of $9,332,029.00. Following the completion of the sale, the director now owns 14,820,606 shares of the company’s stock, valued at $959,634,238.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven I. Sarowitz sold 80,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $61.65, for a total value of $4,932,000.00. Following the sale, the director now directly owns 14,771,651 shares of the company’s stock, valued at approximately $910,672,284.15. The disclosure for this sale can be found here. Insiders have sold 1,082,124 shares of company stock valued at $70,836,551 over the last 90 days. 41.20% of the stock is owned by corporate insiders.
PCTY has been the subject of several research reports. Jefferies Financial Group initiated coverage on Paylocity in a research report on Monday, October 1st. They issued a “hold” rating and a $88.00 target price for the company. Bank of America increased their target price on Paylocity from $73.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, September 26th. Guggenheim began coverage on Paylocity in a research report on Monday, August 20th. They issued a “buy” rating and a $80.00 target price for the company. BidaskClub downgraded Paylocity from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, Wells Fargo & Co raised their price objective on Paylocity from $52.00 to $58.00 and gave the stock a “market perform” rating in a research report on Friday, August 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Paylocity currently has an average rating of “Hold” and an average target price of $68.36.
Shares of PCTY opened at $63.61 on Friday. Paylocity Holding Corp has a 1 year low of $41.15 and a 1 year high of $88.47. The stock has a market cap of $3.26 billion, a PE ratio of 205.19, a P/E/G ratio of 4.04 and a beta of 2.19.
Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, November 1st. The software maker reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.02. Paylocity had a return on equity of 12.35% and a net margin of 12.08%. The company had revenue of $100.50 million during the quarter, compared to the consensus estimate of $98.37 million. During the same period last year, the company earned $0.15 earnings per share. The firm’s revenue was up 23.3% compared to the same quarter last year. On average, research analysts predict that Paylocity Holding Corp will post 0.63 EPS for the current fiscal year.
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Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.
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