Squarepoint Ops LLC Has $3.44 Million Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Squarepoint Ops LLC trimmed its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 78.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,224 shares of the software maker’s stock after selling 64,277 shares during the quarter. Squarepoint Ops LLC’s holdings in Paylocity were worth $3,436,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC boosted its holdings in Paylocity by 14.3% during the third quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock valued at $7,407,000 after acquiring an additional 5,609 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Paylocity by 5,742.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker’s stock valued at $1,165,000 after acquiring an additional 5,742 shares during the period. Dakota Wealth Management bought a new stake in Paylocity during the fourth quarter valued at about $203,000. Fifth Third Bancorp boosted its holdings in Paylocity by 53.6% during the fourth quarter. Fifth Third Bancorp now owns 4,632 shares of the software maker’s stock valued at $924,000 after acquiring an additional 1,617 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Paylocity by 27.7% in the fourth quarter. Blue Trust Inc. now owns 839 shares of the software maker’s stock valued at $167,000 after buying an additional 182 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

Paylocity Stock Performance

NASDAQ:PCTY opened at $194.85 on Tuesday. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80. The firm has a 50 day moving average of $189.46 and a 200-day moving average of $197.63. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $10.76 billion, a P/E ratio of 49.96, a price-to-earnings-growth ratio of 4.49 and a beta of 0.58.

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

Insider Buying and Selling

In related news, Director Steven I. Sarowitz sold 26,252 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.91, for a total value of $5,116,777.32. Following the completion of the transaction, the director now owns 420,000 shares in the company, valued at $81,862,200. The trade was a 5.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 21.91% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PCTY has been the subject of several research reports. Scotiabank initiated coverage on shares of Paylocity in a research note on Wednesday, April 16th. They issued a “sector perform” rating and a $190.00 target price for the company. JMP Securities reiterated a “market outperform” rating and issued a $270.00 target price on shares of Paylocity in a research note on Tuesday, April 29th. Needham & Company LLC reiterated a “buy” rating and issued a $250.00 target price on shares of Paylocity in a research note on Friday, May 2nd. Piper Sandler reiterated an “overweight” rating and issued a $258.00 target price (up previously from $254.00) on shares of Paylocity in a research note on Friday, May 2nd. Finally, KeyCorp reduced their target price on shares of Paylocity from $250.00 to $220.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $223.00.

About Paylocity

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.