37,210 Shares in Paylocity Holding Corp (PCTY) Acquired by Chicago Equity Partners LLC

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.

COPYRIGHT VIOLATION WARNING: This article was first reported by American Banking News and is owned by of American Banking News. If you are accessing this article on another site, it was stolen and reposted in violation of US & international copyright & trademark law. The legal version of this article can be viewed at https://www.americanbankingnews.com/2018/11/10/37210-shares-in-paylocity-holding-corp-pcty-acquired-by-chicago-equity-partners-llc.html.

Paylocity Profile

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.

See Also: What is the NASDAQ?

Want to see what other hedge funds are holding PCTY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paylocity Holding Corp (NASDAQ:PCTY).

Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

Receive News & Ratings for Paylocity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paylocity and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply