Owls Nest Partners IA LLC Has $47.11 Million Position in Paylocity Holding Corporation $PCTY

Owls Nest Partners IA LLC trimmed its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 1.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 259,994 shares of the software maker’s stock after selling 4,563 shares during the period. Paylocity comprises about 11.2% of Owls Nest Partners IA LLC’s portfolio, making the stock its 4th biggest holding. Owls Nest Partners IA LLC’s holdings in Paylocity were worth $47,108,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PCTY. Squarepoint Ops LLC boosted its stake in shares of Paylocity by 170.9% during the 2nd quarter. Squarepoint Ops LLC now owns 128,966 shares of the software maker’s stock worth $23,367,000 after acquiring an additional 81,354 shares in the last quarter. Sei Investments Co. boosted its position in Paylocity by 4.0% during the second quarter. Sei Investments Co. now owns 197,057 shares of the software maker’s stock worth $35,703,000 after purchasing an additional 7,603 shares during the period. Nebula Research & Development LLC grew its holdings in Paylocity by 20.0% during the second quarter. Nebula Research & Development LLC now owns 15,842 shares of the software maker’s stock valued at $2,870,000 after purchasing an additional 2,636 shares during the last quarter. Next Century Growth Investors LLC grew its holdings in Paylocity by 20.8% during the second quarter. Next Century Growth Investors LLC now owns 49,741 shares of the software maker’s stock valued at $9,013,000 after purchasing an additional 8,548 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its position in shares of Paylocity by 120.3% in the second quarter. Qube Research & Technologies Ltd now owns 342,416 shares of the software maker’s stock valued at $62,042,000 after purchasing an additional 186,952 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on PCTY. Cantor Fitzgerald set a $190.00 price objective on shares of Paylocity in a report on Wednesday, November 5th. Citizens Jmp cut their target price on shares of Paylocity from $270.00 to $245.00 and set a “market outperform” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Paylocity in a research report on Monday. Cowen reiterated a “buy” rating on shares of Paylocity in a research note on Monday, October 6th. Finally, Zacks Research upgraded Paylocity from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $207.83.

Insider Buying and Selling at Paylocity

In other news, CFO Ryan Glenn sold 1,737 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $143.65, for a total transaction of $249,520.05. Following the sale, the chief financial officer directly owned 77,229 shares in the company, valued at approximately $11,093,945.85. The trade was a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 19.40% of the company’s stock.

Paylocity Stock Performance

NASDAQ:PCTY opened at $145.23 on Thursday. The firm’s 50-day moving average is $147.82 and its 200-day moving average is $168.17. The company has a market cap of $7.90 billion, a price-to-earnings ratio of 36.40, a PEG ratio of 4.35 and a beta of 0.57. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.07. Paylocity Holding Corporation has a 52-week low of $135.46 and a 52-week high of $223.80.

Paylocity (NASDAQ:PCTY) last released its earnings results on Tuesday, November 4th. The software maker reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.23. The business had revenue of $408.17 million during the quarter, compared to analysts’ expectations of $399.53 million. Paylocity had a net margin of 13.75% and a return on equity of 22.07%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company earned $1.66 earnings per share. Equities research analysts anticipate that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

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.