Oppenheimer Asset Management Inc. boosted its position in Paylocity Holding Corp (NASDAQ:PCTY) by 28.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,567 shares of the software maker’s stock after purchasing an additional 5,455 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Paylocity were worth $2,191,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in PCTY. Vanguard Group Inc. lifted its stake in Paylocity by 9.7% in the third quarter. Vanguard Group Inc. now owns 2,787,057 shares of the software maker’s stock valued at $223,856,000 after acquiring an additional 246,433 shares during the last quarter. Vanguard Group Inc lifted its stake in shares of Paylocity by 9.7% in the third quarter. Vanguard Group Inc now owns 2,787,057 shares of the software maker’s stock worth $223,856,000 after buying an additional 246,433 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Paylocity by 0.5% in the fourth quarter. BlackRock Inc. now owns 2,262,906 shares of the software maker’s stock worth $136,250,000 after buying an additional 11,613 shares during the last quarter. Standard Life Aberdeen plc lifted its stake in shares of Paylocity by 7.6% in the fourth quarter. Standard Life Aberdeen plc now owns 1,596,676 shares of the software maker’s stock worth $94,923,000 after buying an additional 113,109 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Paylocity by 19.5% in the fourth quarter. FMR LLC now owns 846,032 shares of the software maker’s stock worth $50,940,000 after buying an additional 138,231 shares during the last quarter. Institutional investors own 65.36% of the company’s stock.
In related news, Director Jeffrey T. Diehl sold 500,000 shares of the firm’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $86.50, for a total value of $43,250,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Edward W. Gaty sold 11,281 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $87.00, for a total value of $981,447.00. The disclosure for this sale can be found here. Insiders sold a total of 847,405 shares of company stock worth $75,586,534 over the last quarter. 41.20% of the stock is currently owned by corporate insiders.
Paylocity stock traded up $1.06 during trading hours on Wednesday, reaching $102.00. 191,600 shares of the company’s stock traded hands, compared to its average volume of 289,087. Paylocity Holding Corp has a fifty-two week low of $53.46 and a fifty-two week high of $103.71. The company has a market cap of $5.23 billion, a PE ratio of 329.03, a PEG ratio of 8.96 and a beta of 2.07.
Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, May 2nd. The software maker reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.19. The company had revenue of $139.60 million for the quarter, compared to the consensus estimate of $135.97 million. Paylocity had a net margin of 9.52% and a return on equity of 15.29%. The company’s revenue was up 23.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS. On average, research analysts expect that Paylocity Holding Corp will post 0.56 earnings per share for the current fiscal year.
Several equities research analysts have issued reports on PCTY shares. Zacks Investment Research raised shares of Paylocity from a “sell” rating to a “hold” rating in a report on Friday, January 25th. Raymond James boosted their price target on shares of Paylocity from $75.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, February 7th. SunTrust Banks boosted their price target on shares of Paylocity to $83.00 and gave the company a “positive” rating in a report on Tuesday, February 5th. Craig Hallum upped their target price on shares of Paylocity from $65.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday, February 7th. Finally, BidaskClub raised shares of Paylocity from a “buy” rating to a “strong-buy” rating in a report on Friday, January 25th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Paylocity has a consensus rating of “Buy” and an average price target of $90.50.
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Paylocity Company Profile
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.
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