34,604 Shares in Paylocity Holding Corporation (NASDAQ:PCTY) Acquired by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Paylocity Holding Corporation (NASDAQ:PCTY) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 34,604 shares of the software maker’s stock, valued at approximately $6,483,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Choreo LLC lifted its position in Paylocity by 17.3% in the first quarter. Choreo LLC now owns 1,600 shares of the software maker’s stock worth $300,000 after purchasing an additional 236 shares during the period. Wealth Alliance LLC lifted its position in Paylocity by 13.2% in the first quarter. Wealth Alliance LLC now owns 1,599 shares of the software maker’s stock worth $299,000 after purchasing an additional 186 shares during the period. Hardy Reed LLC lifted its position in Paylocity by 11.3% in the first quarter. Hardy Reed LLC now owns 1,315 shares of the software maker’s stock worth $246,000 after purchasing an additional 134 shares during the period. Verdence Capital Advisors LLC acquired a new stake in Paylocity in the first quarter worth approximately $214,000. Finally, Victory Capital Management Inc. lifted its position in Paylocity by 12.6% in the first quarter. Victory Capital Management Inc. now owns 177,979 shares of the software maker’s stock worth $33,343,000 after purchasing an additional 19,966 shares during the period. 94.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PCTY has been the subject of a number of research analyst reports. Piper Sandler restated an “overweight” rating and issued a $258.00 target price (up from $254.00) on shares of Paylocity in a research report on Friday, May 2nd. JMP Securities reiterated a “market outperform” rating and set a $270.00 price objective on shares of Paylocity in a research report on Tuesday, April 29th. UBS Group increased their price objective on Paylocity from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Wall Street Zen upgraded Paylocity from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Finally, Citigroup cut their price objective on Paylocity from $225.00 to $218.00 and set a “buy” rating for the company in a research report on Monday, July 21st. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Paylocity has an average rating of “Moderate Buy” and an average price target of $221.76.

Paylocity Price Performance

Shares of PCTY stock opened at $187.86 on Friday. Paylocity Holding Corporation has a 12-month low of $142.00 and a 12-month high of $223.80. The firm has a market capitalization of $10.38 billion, a price-to-earnings ratio of 46.85, a price-to-earnings-growth ratio of 3.69 and a beta of 0.50. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.20. The firm has a fifty day moving average of $185.72 and a 200-day moving average of $192.01.

Paylocity (NASDAQ:PCTY) last announced its 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 analyst estimates of $441.77 million. Paylocity had a net margin of 14.65% and a return on equity of 22.90%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.21 EPS. On average, equities research analysts forecast that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

Insider Buying and Selling

In other Paylocity news, SVP Andrew Cappotelli sold 1,717 shares of the business’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $176.74, for a total transaction of $303,462.58. Following the sale, the senior vice president directly owned 11,953 shares of the company’s stock, valued at $2,112,573.22. The trade was a 12.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 21.91% of the stock is owned by company insiders.

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.