Paylocity Holding Co. (NASDAQ:PCTY) Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC increased its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 301.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,876 shares of the software maker’s stock after acquiring an additional 3,662 shares during the period. Nisa Investment Advisors LLC’s holdings in Paylocity were worth $804,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. HighTower Advisors LLC raised its holdings in Paylocity by 12.9% in the first quarter. HighTower Advisors LLC now owns 5,798 shares of the software maker’s stock valued at $1,172,000 after buying an additional 664 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of Paylocity during the first quarter valued at approximately $14,007,000. Sei Investments Co. raised its stake in shares of Paylocity by 1.3% during the first quarter. Sei Investments Co. now owns 66,053 shares of the software maker’s stock valued at $13,594,000 after purchasing an additional 876 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Paylocity during the first quarter valued at approximately $144,000. Finally, Covestor Ltd raised its stake in shares of Paylocity by 88.1% during the first quarter. Covestor Ltd now owns 331 shares of the software maker’s stock valued at $68,000 after purchasing an additional 155 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Steven I. Sarowitz sold 24,504 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $175.47, for a total transaction of $4,299,716.88. Following the completion of the transaction, the director now owns 9,587,872 shares of the company’s stock, valued at $1,682,383,899.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Jeffrey T. Diehl sold 20,032 shares of Paylocity stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $168.55, for a total transaction of $3,376,393.60. Following the sale, the director now directly owns 16,391 shares in the company, valued at $2,762,703.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven I. Sarowitz sold 24,504 shares of Paylocity stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $175.47, for a total transaction of $4,299,716.88. Following the sale, the director now owns 9,587,872 shares in the company, valued at $1,682,383,899.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,547 shares of company stock valued at $9,356,359. 22.50% of the stock is currently owned by company insiders.

Paylocity Price Performance

Paylocity stock opened at $159.00 on Wednesday. Paylocity Holding Co. has a 12 month low of $139.40 and a 12 month high of $230.52. The company has a market cap of $8.96 billion, a PE ratio of 53.72, a P/E/G ratio of 3.64 and a beta of 0.87. The company has a fifty day moving average price of $169.40 and a two-hundred day moving average price of $166.66.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings results on Thursday, February 8th. The software maker reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.08. Paylocity had a net margin of 12.96% and a return on equity of 21.37%. The company had revenue of $326.36 million during the quarter, compared to the consensus estimate of $324.34 million. Equities research analysts anticipate that Paylocity Holding Co. will post 3.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PCTY. JMP Securities reiterated a “market outperform” rating and set a $250.00 price objective on shares of Paylocity in a research note on Monday, January 22nd. Needham & Company LLC restated a “buy” rating and issued a $200.00 price target on shares of Paylocity in a research note on Friday, February 9th. Citigroup lifted their price target on shares of Paylocity from $180.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 31st. KeyCorp dropped their price target on shares of Paylocity from $197.00 to $186.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. Finally, Piper Sandler lifted their price target on shares of Paylocity from $207.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $205.13.

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.