Paylocity Holding Co. (NASDAQ:PCTY) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP grew its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 62.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,020 shares of the software maker’s stock after acquiring an additional 18,463 shares during the quarter. Quantinno Capital Management LP’s holdings in Paylocity were worth $9,579,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of Paylocity during the 4th quarter valued at about $29,000. UMB Bank n.a. increased its stake in shares of Paylocity by 41.1% during the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after acquiring an additional 72 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Paylocity by 489.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $54,000 after acquiring an additional 225 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Paylocity by 29.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock valued at $55,000 after acquiring an additional 63 shares during the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in shares of Paylocity during the 4th quarter valued at about $72,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Stifel Nicolaus dropped their price objective on shares of Paylocity from $250.00 to $235.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. KeyCorp dropped their target price on shares of Paylocity from $250.00 to $220.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. BMO Capital Markets increased their target price on shares of Paylocity from $210.00 to $226.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. StockNews.com raised shares of Paylocity from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Citigroup dropped their target price on shares of Paylocity from $246.00 to $225.00 and set a “buy” rating for the company in a research report on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Paylocity has a consensus rating of “Moderate Buy” and an average target price of $223.00.

Paylocity Stock Down 0.1%

NASDAQ PCTY opened at $199.21 on Friday. The stock has a market cap of $11.00 billion, a PE ratio of 51.08, a P/E/G ratio of 4.49 and a beta of 0.58. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. The business has a 50 day moving average price of $188.04 and a two-hundred day moving average price of $197.45. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.34. The firm had revenue of $454.55 million during the quarter, compared to analysts’ expectations of $441.77 million. Paylocity had a return on equity of 22.45% and a net margin of 14.76%. Paylocity’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.21 EPS. As a group, sell-side analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Insider Activity

In other news, Director Steven I. Sarowitz sold 26,252 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the completion of the transaction, the director now directly owns 420,000 shares in the company, valued at approximately $81,862,200. This represents a 5.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 21.91% of the company’s stock.

Paylocity Profile

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.