TimesSquare Capital Management LLC Acquires 400 Shares of Paylocity Holding Corporation (PCTY)

TimesSquare Capital Management LLC lifted its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 0.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 995,550 shares of the software maker’s stock after acquiring an additional 400 shares during the period. TimesSquare Capital Management LLC owned approximately 1.93% of Paylocity Holding Corporation worth $44,979,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its position in shares of Paylocity Holding Corporation by 20.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 490,959 shares of the software maker’s stock worth $18,966,000 after acquiring an additional 83,478 shares in the last quarter. State of Wisconsin Investment Board bought a new stake in shares of Paylocity Holding Corporation during the second quarter worth about $3,660,000. Bank of America Corp DE increased its position in shares of Paylocity Holding Corporation by 13.4% during the first quarter. Bank of America Corp DE now owns 131,015 shares of the software maker’s stock worth $5,062,000 after acquiring an additional 15,504 shares in the last quarter. Chicago Equity Partners LLC bought a new stake in shares of Paylocity Holding Corporation during the second quarter worth about $1,129,000. Finally, Parametric Portfolio Associates LLC increased its position in shares of Paylocity Holding Corporation by 54.1% during the first quarter. Parametric Portfolio Associates LLC now owns 49,432 shares of the software maker’s stock worth $1,910,000 after acquiring an additional 17,364 shares in the last quarter. 60.87% of the stock is owned by institutional investors.

Several equities research analysts have recently commented on PCTY shares. Zacks Investment Research downgraded shares of Paylocity Holding Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Bank of America Corporation reaffirmed a “buy” rating and issued a $47.00 price objective (down from $50.00) on shares of Paylocity Holding Corporation in a research report on Friday, August 11th. ValuEngine raised shares of Paylocity Holding Corporation from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. SunTrust Banks, Inc. started coverage on shares of Paylocity Holding Corporation in a research report on Monday, June 26th. They issued a “hold” rating and a $45.00 price objective for the company. Finally, Needham & Company LLC upped their price objective on shares of Paylocity Holding Corporation from $46.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $51.46.

Shares of Paylocity Holding Corporation (PCTY) opened at 47.04 on Friday. Paylocity Holding Corporation has a 1-year low of $29.69 and a 1-year high of $49.65. The firm has a 50-day moving average of $46.33 and a 200 day moving average of $43.07. The stock has a market capitalization of $2.43 billion, a PE ratio of 392.00 and a beta of 2.25.

Paylocity Holding Corporation (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, August 10th. The software maker reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. Paylocity Holding Corporation had a net margin of 2.24% and a return on equity of 6.13%. The business had revenue of $76.10 million for the quarter, compared to the consensus estimate of $73.79 million. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. The company’s revenue for the quarter was up 27.3% on a year-over-year basis. Analysts predict that Paylocity Holding Corporation will post $0.79 EPS for the current year.

In other Paylocity Holding Corporation news, VP Michael R. Haske sold 88,600 shares of Paylocity Holding Corporation stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $45.21, for a total transaction of $4,005,606.00. Following the transaction, the vice president now owns 1,189,606 shares of the company’s stock, valued at $53,782,087.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven I. Sarowitz sold 200,000 shares of Paylocity Holding Corporation stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $44.81, for a total transaction of $8,962,000.00. Following the transaction, the director now directly owns 16,212,317 shares in the company, valued at approximately $726,473,924.77. The disclosure for this sale can be found here. Insiders have sold 1,510,185 shares of company stock worth $68,035,096 in the last ninety days. Insiders own 53.10% of the company’s stock.

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About Paylocity Holding Corporation

Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Company’s services are provided in a software-as-a-service delivery model utilizing its cloud-based platform. The cloud-based platform provides a suite of applications using a multi-tenant architecture.

Institutional Ownership by Quarter for Paylocity Holding Corporation (NASDAQ:PCTY)

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