GW&K Investment Management LLC increased its stake in Paylocity Holding Corp (NASDAQ:PCTY) by 8.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 537,446 shares of the software maker’s stock after purchasing an additional 42,307 shares during the period. Paylocity makes up approximately 0.7% of GW&K Investment Management LLC’s portfolio, making the stock its 28th biggest holding. GW&K Investment Management LLC owned approximately 1.00% of Paylocity worth $52,444,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Delta Investment Management LLC purchased a new stake in Paylocity in the third quarter worth approximately $2,107,000. Alps Advisors Inc. purchased a new stake in Paylocity in the third quarter worth approximately $371,000. First Trust Advisors LP boosted its stake in Paylocity by 64.7% in the third quarter. First Trust Advisors LP now owns 101,449 shares of the software maker’s stock worth $9,899,000 after buying an additional 39,852 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Paylocity by 31.1% in the third quarter. Russell Investments Group Ltd. now owns 41,691 shares of the software maker’s stock worth $4,068,000 after buying an additional 9,885 shares in the last quarter. Finally, BB&T Corp boosted its stake in Paylocity by 4.8% in the third quarter. BB&T Corp now owns 2,862 shares of the software maker’s stock worth $279,000 after buying an additional 130 shares in the last quarter. Institutional investors own 64.97% of the company’s stock.
Shares of NASDAQ:PCTY traded up $2.10 during trading on Friday, reaching $106.07. 283,300 shares of the company traded hands, compared to its average volume of 334,047. Paylocity Holding Corp has a 52-week low of $53.46 and a 52-week high of $112.46. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.25. The business’s fifty day moving average is $98.98 and its 200-day moving average is $100.17. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 98.21, a P/E/G ratio of 4.85 and a beta of 1.53.
Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Wednesday, October 30th. The software maker reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.25. Paylocity had a return on equity of 19.03% and a net margin of 11.78%. The firm had revenue of $126.72 million during the quarter, compared to the consensus estimate of $124.15 million. During the same period last year, the company earned $0.20 earnings per share. The company’s revenue was up 26.1% on a year-over-year basis. On average, sell-side analysts predict that Paylocity Holding Corp will post 1.06 earnings per share for the current fiscal year.
In other news, Director Ronald V. Waters sold 4,516 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $106.30, for a total transaction of $480,050.80. Following the completion of the transaction, the director now directly owns 14,415,427 shares in the company, valued at $1,532,359,890.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronald V. Waters sold 484 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $105.10, for a total value of $50,868.40. Following the sale, the director now directly owns 26,200 shares in the company, valued at $2,753,620. The disclosure for this sale can be found here. Insiders have sold 262,076 shares of company stock valued at $26,692,978 over the last 90 days. Corporate insiders own 37.80% of the company’s stock.
Several analysts have issued reports on PCTY shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 target price on shares of Paylocity in a research note on Thursday, October 31st. Stifel Nicolaus increased their price objective on Paylocity from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Mizuho initiated coverage on Paylocity in a research note on Wednesday, August 21st. They set a “neutral” rating and a $105.00 price objective for the company. JMP Securities increased their price objective on Paylocity to $115.00 and gave the company a “market perform” rating in a research note on Monday, July 22nd. Finally, SunTrust Banks increased their price objective on Paylocity from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $109.62.
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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