Paylocity Holding Co. (NASDAQ:PCTY) Shares Acquired by Versant Capital Management Inc

Versant Capital Management Inc lifted its position in Paylocity Holding Co. (NASDAQ:PCTY) by 415.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,057 shares of the software maker’s stock after purchasing an additional 1,658 shares during the quarter. Versant Capital Management Inc’s holdings in Paylocity were worth $385,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Certuity LLC purchased a new position in Paylocity during the 4th quarter worth approximately $232,000. Barclays PLC raised its holdings in shares of Paylocity by 14.3% during the third quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock worth $7,407,000 after purchasing an additional 5,609 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Paylocity during the fourth quarter valued at $29,000. Blue Trust Inc. boosted its holdings in 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 purchasing an additional 182 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Paylocity by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 285,556 shares of the software maker’s stock worth $56,960,000 after purchasing an additional 3,130 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Stock Up 0.3%

Shares of NASDAQ PCTY opened at $189.88 on Friday. The firm has a market cap of $10.49 billion, a price-to-earnings ratio of 48.69, a price-to-earnings-growth ratio of 4.49 and a beta of 0.58. The company’s 50-day simple moving average is $189.49 and its 200-day simple moving average is $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 Holding Co. has a 52-week low of $129.94 and a 52-week high of $223.80.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share 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 firm had revenue of $454.55 million for the quarter, compared to analyst estimates of $441.77 million. During the same period last year, the company posted $2.21 EPS. Paylocity’s quarterly revenue was up 13.3% compared to the same quarter last year. Equities analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group boosted their price objective on Paylocity from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Scotiabank started coverage on Paylocity in a report on Wednesday, April 16th. They issued a “sector perform” rating and a $190.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $250.00 price objective on shares of Paylocity in a research report on Friday, May 2nd. Wall Street Zen raised shares of Paylocity from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $258.00 target price (up from $254.00) on shares of Paylocity in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $223.00.

Insider Activity

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of Paylocity stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the sale, the director now owns 420,000 shares of the company’s stock, valued at $81,862,200. The trade was a 5.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 21.91% of the company’s stock.

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.