Shaker Investments LLC OH Acquires 6,902 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Shaker Investments LLC OH grew its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 59.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,567 shares of the software maker’s stock after purchasing an additional 6,902 shares during the period. Paylocity comprises about 1.6% of Shaker Investments LLC OH’s investment portfolio, making the stock its 20th biggest holding. Shaker Investments LLC OH’s holdings in Paylocity were worth $3,704,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. International Assets Investment Management LLC increased its holdings in Paylocity by 16,397.9% in the 3rd quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock worth $1,279,000 after buying an additional 7,707 shares in the last quarter. Edgestream Partners L.P. raised its holdings in shares of Paylocity by 222.3% during the third quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock valued at $1,788,000 after purchasing an additional 7,475 shares during the last quarter. Barclays PLC grew its position in Paylocity by 14.3% in the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock worth $7,407,000 after purchasing an additional 5,609 shares during the period. Nisa Investment Advisors LLC increased its position in Paylocity by 5,742.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker’s stock valued at $1,165,000 after acquiring an additional 5,742 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Paylocity by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker’s stock valued at $46,592,000 after acquiring an additional 4,697 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Activity

In related news, Director Steven I. Sarowitz sold 10,237 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $210.10, for a total value of $2,150,793.70. Following the completion of the transaction, the director now owns 9,214,115 shares of the company’s stock, valued at approximately $1,935,885,561.50. This trade represents a 0.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ryan Glenn sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $205.40, for a total value of $534,040.00. Following the sale, the chief financial officer now directly owns 48,150 shares in the company, valued at $9,890,010. The trade was a 5.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,380 shares of company stock worth $25,830,669. 21.91% of the stock is currently owned by insiders.

Analyst Ratings Changes

PCTY has been the subject of several research reports. StockNews.com lowered shares of Paylocity from a “buy” rating to a “hold” rating in a research report on Monday. Truist Financial upped their target price on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 1st. TD Cowen cut their price objective on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Stifel Nicolaus raised their target price on Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Friday. Finally, Mizuho raised Paylocity from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $200.00 to $235.00 in a report on Friday, January 31st. Three 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 presently has a consensus rating of “Moderate Buy” and an average target price of $233.25.

Paylocity Stock Performance

Shares of NASDAQ PCTY opened at $211.61 on Tuesday. The firm’s fifty day moving average is $201.28 and its two-hundred day moving average is $181.70. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $223.80. The company has a market cap 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. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32.

Paylocity (NASDAQ:PCTY) last posted its 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 22.93% and a net margin of 14.76%. As a group, analysts anticipate that Paylocity Holding Co. will post 4.46 EPS for the current fiscal year.

Paylocity Company 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.