Fisher Asset Management LLC Raises Position in Paylocity Holding Co. (NASDAQ:PCTY)

Fisher Asset Management LLC increased its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 25.0% during the 4th quarter, Holdings Channel reports. The firm owned 95,200 shares of the software maker’s stock after acquiring an additional 19,040 shares during the period. Fisher Asset Management LLC’s holdings in Paylocity were worth $18,990,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PCTY. Prospera Private Wealth LLC bought a new stake in shares of Paylocity during the 3rd quarter valued at $39,000. UMB Bank n.a. raised its position 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 purchasing an additional 72 shares during the period. Quarry LP raised its position in shares of Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after purchasing an additional 185 shares during the period. GAMMA Investing LLC raised its position in shares of Paylocity by 43.3% during the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock valued at $77,000 after purchasing an additional 116 shares during the period. Finally, Tompkins Financial Corp bought a new stake in shares of Paylocity during the 3rd quarter valued at $82,000. 94.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Steven I. Sarowitz sold 2,600 shares of Paylocity stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $200.14, for a total transaction of $520,364.00. Following the completion of the transaction, the director now directly owns 8,332,347 shares of the company’s stock, valued at approximately $1,667,635,928.58. The trade was a 0.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 63,849 shares of company stock valued at $12,982,226. Company insiders own 21.91% of the company’s stock.

Paylocity Stock Performance

Paylocity stock opened at $204.95 on Tuesday. The company’s 50-day moving average price is $203.50 and its 200-day moving average price is $188.23. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. The company has a market cap of $11.45 billion, a PE ratio of 52.55, a price-to-earnings-growth ratio of 4.49 and a beta of 0.95.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. On average, equities research analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on PCTY shares. StockNews.com downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Raymond James reiterated an “outperform” rating and issued a $265.00 price target (up from $215.00) on shares of Paylocity in a report on Friday, February 7th. JMP Securities lifted their price target on shares of Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a report on Friday, February 7th. KeyCorp lifted their price target on shares of Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, Jefferies Financial Group lifted their price target on shares of Paylocity from $240.00 to $255.00 and gave the company a “buy” rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $233.25.

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.