Truist Financial Corp Acquires 2,917 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Truist Financial Corp boosted its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 16.9% during the fourth quarter, HoldingsChannel reports. The fund owned 20,143 shares of the software maker’s stock after purchasing an additional 2,917 shares during the quarter. Truist Financial Corp’s holdings in Paylocity were worth $4,148,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Harvest Fund Management Co. Ltd grew its holdings in Paylocity by 9.2% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 560 shares of the software maker’s stock worth $115,000 after acquiring an additional 47 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Paylocity by 4.2% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,370 shares of the software maker’s stock worth $282,000 after acquiring an additional 55 shares during the last quarter. Sowell Financial Services LLC grew its holdings in Paylocity by 11.4% during the 4th quarter. Sowell Financial Services LLC now owns 735 shares of the software maker’s stock worth $151,000 after acquiring an additional 75 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in Paylocity by 1.1% during the 4th quarter. Louisiana State Employees Retirement System now owns 9,400 shares of the software maker’s stock worth $1,936,000 after acquiring an additional 100 shares during the last quarter. Finally, State of Michigan Retirement System lifted its position in shares of Paylocity by 0.7% in the 4th quarter. State of Michigan Retirement System now owns 13,625 shares of the software maker’s stock worth $2,806,000 after purchasing an additional 100 shares during the period. 68.69% of the stock is currently owned by hedge funds and other institutional investors.

PCTY opened at $188.72 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.26. The company’s fifty day moving average price is $183.51 and its two-hundred day moving average price is $189.80. Paylocity Holding Co. has a 1-year low of $84.48 and a 1-year high of $218.34. The company has a market cap of $10.26 billion, a price-to-earnings ratio of 167.01, a PEG ratio of 12.76 and a beta of 1.36.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Wednesday, February 3rd. The software maker reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.14. Paylocity had a net margin of 11.05% and a return on equity of 16.89%. The firm had revenue of $146.33 million for the quarter, compared to the consensus estimate of $143.47 million. As a group, equities analysts forecast that Paylocity Holding Co. will post 0.76 earnings per share for the current fiscal year.

PCTY has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of Paylocity from $210.00 to $217.00 and gave the stock a “neutral” rating in a research report on Friday, February 5th. Raymond James boosted their price target on shares of Paylocity from $210.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, February 5th. Mizuho boosted their price target on shares of Paylocity from $160.00 to $175.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 16th. Zacks Investment Research downgraded shares of Paylocity from a “buy” rating to a “hold” rating and set a $224.00 price target on the stock. in a research report on Wednesday, February 10th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price target on shares of Paylocity from $209.00 to $210.00 in a research report on Tuesday, December 22nd. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Paylocity has a consensus rating of “Buy” and a consensus price target of $191.88.

About Paylocity

Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Payroll module that enables clients to automate key payroll processes and manage compliance; Core HR module, which provides a set of HR capabilities enabling clients to manage HR data; and Talent module that enable clients to manage their talent throughout employees' tenures, starting at recruiting and carrying through onboarding, learning, and performance management.

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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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