Burney Co. Purchases New Position in Paylocity Holding Corporation $PCTY

Burney Co. purchased a new stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 29,731 shares of the software maker’s stock, valued at approximately $4,735,000.

Several other institutional investors and hedge funds have also bought and sold shares of PCTY. SBI Securities Co. Ltd. increased its stake in shares of Paylocity by 47.4% during the second quarter. SBI Securities Co. Ltd. now owns 252 shares of the software maker’s stock valued at $46,000 after buying an additional 81 shares during the period. Employees Retirement System of Texas purchased a new stake in Paylocity in the second quarter worth $51,000. Bayforest Capital Ltd boosted its holdings in Paylocity by 69.1% in the first quarter. Bayforest Capital Ltd now owns 296 shares of the software maker’s stock valued at $55,000 after acquiring an additional 121 shares in the last quarter. IFP Advisors Inc increased its position in Paylocity by 248.5% during the 2nd quarter. IFP Advisors Inc now owns 338 shares of the software maker’s stock valued at $61,000 after purchasing an additional 241 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in Paylocity by 35.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 428 shares of the software maker’s stock valued at $77,000 after purchasing an additional 111 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

PCTY has been the subject of several research analyst reports. BMO Capital Markets dropped their target price on shares of Paylocity from $200.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. UBS Group lowered their price objective on shares of Paylocity from $195.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, September 17th. Guggenheim raised Paylocity from a “neutral” rating to a “buy” rating and set a $180.00 price objective on the stock in a research report on Monday, November 10th. JMP Securities set a $245.00 target price on Paylocity in a report on Wednesday, November 5th. Finally, Cowen reissued a “buy” rating on shares of Paylocity in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $204.32.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $153.65 on Friday. The company has a 50 day simple moving average of $147.59 and a two-hundred day simple moving average of $164.78. Paylocity Holding Corporation has a fifty-two week low of $135.46 and a fifty-two week high of $223.80. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of 38.51, a P/E/G ratio of 4.52 and a beta of 0.57. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.07.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Tuesday, November 4th. The software maker reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. Paylocity had a return on equity of 22.07% and a net margin of 13.75%.The firm had revenue of $408.17 million for the quarter, compared to analysts’ expectations of $399.53 million. During the same period in the previous year, the firm posted $1.66 EPS. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. Analysts expect that Paylocity Holding Corporation will post 4.36 EPS for the current fiscal year.

Insider Buying and Selling at Paylocity

In other news, CFO Ryan Glenn sold 1,737 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $143.65, for a total transaction of $249,520.05. Following the completion of the transaction, the chief financial officer directly owned 77,229 shares in the company, valued at $11,093,945.85. This trade represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 19.40% of the stock is owned by insiders.

Paylocity Company Profile

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.