Prelude Capital Management LLC Acquires Shares of 1,517 Paylocity Holding Co. (NASDAQ:PCTY)

Prelude Capital Management LLC acquired a new stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 1,517 shares of the software maker’s stock, valued at approximately $302,000.

Other large investors have also bought and sold shares of the company. EMC Capital Management purchased a new position in shares of Paylocity during the fourth quarter valued at approximately $29,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Paylocity during the first quarter valued at approximately $33,000. Belpointe Asset Management LLC purchased a new position in Paylocity in the 4th quarter worth approximately $33,000. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Paylocity by 135.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 174 shares of the software maker’s stock worth $35,000 after acquiring an additional 100 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. purchased a new position in Paylocity in the 4th quarter worth approximately $44,000. 73.65% of the stock is owned by institutional investors.

Paylocity Stock Performance

Shares of Paylocity stock opened at $188.78 on Tuesday. The company has a market capitalization of $10.56 billion, a P/E ratio of 75.51 and a beta of 1.09. The company has a fifty day moving average of $205.73 and a 200 day moving average of $191.23. Paylocity Holding Co. has a fifty-two week low of $160.00 and a fifty-two week high of $269.34.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, August 3rd. The software maker reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.15. The company had revenue of $308.45 million during the quarter, compared to the consensus estimate of $301.43 million. Paylocity had a net margin of 11.99% and a return on equity of 21.89%. Analysts forecast that Paylocity Holding Co. will post 3.45 EPS for the current year.

Insiders Place Their Bets

In other Paylocity news, Director Bernard Robinson Kenneth sold 275 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $202.11, for a total value of $55,580.25. Following the sale, the director now owns 3,031 shares in the company, valued at approximately $612,595.41. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Bernard Robinson Kenneth sold 275 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $202.11, for a total value of $55,580.25. Following the completion of the transaction, the director now owns 3,031 shares of the company’s stock, valued at approximately $612,595.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven I. Sarowitz sold 57,681 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $192.82, for a total transaction of $11,122,050.42. Following the completion of the transaction, the director now directly owns 9,913,048 shares of the company’s stock, valued at approximately $1,911,433,915.36. The disclosure for this sale can be found here. Insiders have sold a total of 174,074 shares of company stock worth $34,320,823 in the last 90 days. 26.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PCTY shares. StockNews.com started coverage on shares of Paylocity in a report on Thursday, August 17th. They issued a “hold” rating for the company. BMO Capital Markets lifted their target price on shares of Paylocity from $230.00 to $246.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Barclays lifted their target price on shares of Paylocity from $204.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Friday, August 4th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $215.00 target price on shares of Paylocity in a research report on Friday, August 4th. Finally, TD Cowen lifted their target price on shares of Paylocity from $253.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Paylocity currently has an average rating of “Moderate Buy” and a consensus price target of $260.79.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.