Peterson Wealth Services Boosts Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Peterson Wealth Services raised its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 5.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,999 shares of the software maker’s stock after purchasing an additional 261 shares during the period. Peterson Wealth Services’ holdings in Paylocity were worth $997,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Geode Capital Management LLC raised its holdings in shares of Paylocity by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock valued at $173,053,000 after acquiring an additional 36,590 shares in the last quarter. JPMorgan Chase & Co. increased its position in Paylocity by 81.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock valued at $141,303,000 after purchasing an additional 385,625 shares during the period. Janus Henderson Group PLC raised its holdings in Paylocity by 3.5% in the 3rd quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock worth $85,444,000 after purchasing an additional 17,560 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Paylocity by 283.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock worth $51,101,000 after purchasing an additional 229,057 shares during the period. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Paylocity by 3.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 287,264 shares of the software maker’s stock valued at $47,389,000 after purchasing an additional 8,878 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Activity at Paylocity

In other news, CAO Nicholas Rost sold 212 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $40,977.48. Following the transaction, the chief accounting officer now owns 7,364 shares in the company, valued at $1,423,387.56. This represents a 2.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Andrew Cappotelli sold 247 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total transaction of $47,742.63. Following the completion of the transaction, the senior vice president now directly owns 14,634 shares in the company, valued at approximately $2,828,605.86. The trade was a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,380 shares of company stock worth $25,830,669 over the last quarter. Company insiders own 21.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Mizuho upgraded shares of Paylocity from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $200.00 to $235.00 in a report on Friday, January 31st. Truist Financial raised their target price on Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Needham & Company LLC upped their price target on Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday. JMP Securities raised their price objective on Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a research report on Friday. Finally, Barclays increased their price target on shares of Paylocity from $214.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and an average target price of $233.25.

Paylocity Stock Up 2.8 %

PCTY stock opened at $211.61 on Tuesday. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80. The business has a fifty day moving average price of $201.28 and a 200-day moving average price of $181.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $11.80 billion, a P/E ratio of 54.26, a P/E/G ratio of 5.19 and a beta of 0.95.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a return on equity of 22.93% and a net margin of 14.76%. Equities analysts forecast that Paylocity Holding Co. will post 4.46 earnings per share for the current fiscal 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.