Paylocity Holding Co. (NASDAQ:PCTY) Shares Bought by Leelyn Smith LLC

Leelyn Smith LLC grew its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 16.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 7,673 shares of the software maker’s stock after acquiring an additional 1,078 shares during the quarter. Leelyn Smith LLC’s holdings in Paylocity were worth $1,012,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Sei Investments Co. boosted its position in shares of Paylocity by 25.2% during the 4th quarter. Sei Investments Co. now owns 192,028 shares of the software maker’s stock worth $31,654,000 after purchasing an additional 38,613 shares in the last quarter. Evoke Wealth LLC purchased a new stake in shares of Paylocity during the 4th quarter worth approximately $2,507,000. Wells Fargo & Company MN grew its holdings in shares of Paylocity by 274.8% in the 4th quarter. Wells Fargo & Company MN now owns 65,010 shares of the software maker’s stock worth $10,717,000 after acquiring an additional 47,663 shares during the period. FORA Capital LLC purchased a new position in Paylocity in the 1st quarter valued at approximately $1,540,000. Finally, Royal London Asset Management Ltd. acquired a new position in Paylocity during the fourth quarter worth $1,938,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Buying and Selling

In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $142.68, for a total value of $7,054,384.56. Following the sale, the chief executive officer now directly owns 1,745,022 shares of the company’s stock, valued at $248,979,738.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Paylocity news, CAO Nicholas Rost sold 331 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $138.73, for a total transaction of $45,919.63. Following the transaction, the chief accounting officer now owns 4,751 shares of the company’s stock, valued at approximately $659,106.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Steven R. Beauchamp sold 49,442 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the completion of the transaction, the chief executive officer now owns 1,745,022 shares of the company’s stock, valued at $248,979,738.96. The disclosure for this sale can be found here. Insiders have sold a total of 51,173 shares of company stock worth $7,296,388 over the last quarter. 22.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PCTY has been the subject of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $200.00 price target on shares of Paylocity in a research report on Thursday, September 5th. BTIG Research decreased their target price on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Barclays decreased their price objective on Paylocity from $160.00 to $156.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Truist Financial decreased their price target on Paylocity from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group dropped their price objective on shares of Paylocity from $180.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Paylocity currently has an average rating of “Moderate Buy” and a consensus target price of $179.13.

Paylocity Price Performance

Shares of PCTY stock opened at $159.53 on Friday. The firm has a market cap of $8.87 billion, a P/E ratio of 46.38, a P/E/G ratio of 3.82 and a beta of 0.94. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $206.28. The firm has a fifty day moving average of $151.57 and a two-hundred day moving average of $155.11.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, August 1st. The software maker reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.19. Paylocity had a return on equity of 22.17% and a net margin of 14.74%. The business had revenue of $357.30 million for the quarter, compared to analyst estimates of $350.29 million. During the same period in the prior year, the company posted $0.76 EPS. The business’s revenue was up 15.8% compared to the same quarter last year. On average, sell-side analysts expect that Paylocity Holding Co. will post 4.51 EPS for the current year.

Paylocity Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.