11,400 Shares in Paylocity Holding Co. (NASDAQ:PCTY) Bought by ING Groep NV

ING Groep NV purchased a new stake in Paylocity Holding Co. (NASDAQ:PCTY) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 11,400 shares of the software maker’s stock, valued at approximately $2,274,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hardy Reed LLC purchased a new position in Paylocity in the fourth quarter worth approximately $236,000. Private Advisor Group LLC acquired a new stake in shares of Paylocity in the 4th quarter valued at $246,000. Alberta Investment Management Corp purchased a new stake in shares of Paylocity during the 4th quarter worth $3,056,000. Convergence Investment Partners LLC purchased a new position in Paylocity in the fourth quarter valued at $553,000. Finally, Venturi Wealth Management LLC raised its stake in Paylocity by 165.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,446 shares of the software maker’s stock valued at $288,000 after buying an additional 902 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Trading Down 0.8 %

NASDAQ:PCTY opened at $204.82 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. The stock’s 50 day simple moving average is $202.82 and its 200-day simple moving average is $185.84. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80. The firm has a market cap of $11.45 billion, a P/E ratio of 52.52, a PEG ratio of 4.49 and a beta of 0.95.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data 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%. Equities analysts anticipate that Paylocity Holding Co. will post 4.36 EPS for the current year.

Insider Activity at Paylocity

In other Paylocity news, Director Jeffrey T. Diehl sold 4,513 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $209.91, for a total value of $947,323.83. Following the completion of the transaction, the director now owns 1,003 shares in the company, valued at approximately $210,539.73. This represents a 81.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven I. Sarowitz sold 1,400 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $200.59, for a total transaction of $280,826.00. Following the sale, the director now owns 8,338,430 shares in the company, valued at $1,672,605,673.70. The trade was a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,999 shares of company stock worth $17,822,987 over the last 90 days. Company insiders own 21.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PCTY. Barclays upped their price objective on Paylocity from $214.00 to $231.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Needham & Company LLC increased their price target on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Raymond James restated an “outperform” rating and set a $265.00 price objective (up previously from $215.00) on shares of Paylocity in a research report on Friday, February 7th. TD Cowen dropped their target price on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, KeyCorp boosted their price target on shares of Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average 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.