Banco Santander S.A. Takes $829,000 Position in Paylocity Holding Co. (NASDAQ:PCTY)

Banco Santander S.A. purchased a new stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,154 shares of the software maker’s stock, valued at approximately $829,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in Paylocity by 3.6% during the 3rd 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. raised its stake in shares of Paylocity by 81.9% during the third 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 in the last quarter. Janus Henderson Group PLC raised its stake in shares of Paylocity by 3.5% during the third quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock valued at $85,444,000 after purchasing an additional 17,560 shares in the last quarter. GW&K Investment Management LLC raised its stake in shares of Paylocity by 0.6% during the fourth quarter. GW&K Investment Management LLC now owns 381,010 shares of the software maker’s stock valued at $76,000,000 after purchasing an additional 2,193 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of Paylocity by 283.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock worth $51,101,000 after buying an additional 229,057 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. StockNews.com downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Stifel Nicolaus boosted their target price on Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Mizuho raised Paylocity from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $200.00 to $235.00 in a report on Friday, January 31st. Needham & Company LLC boosted their price objective on Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Raymond James reissued an “outperform” rating and issued a $265.00 price objective (up previously from $215.00) on shares of Paylocity in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $233.25.

Insider Activity at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $200.14, for a total value of $520,364.00. Following the transaction, the director now owns 8,332,347 shares in the company, valued at approximately $1,667,635,928.58. This represents a 0.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 42,876 shares of company stock valued at $8,671,491. Company insiders own 21.91% of the company’s stock.

Paylocity Price Performance

NASDAQ PCTY opened at $195.11 on Monday. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80. The stock’s 50-day moving average price is $203.18 and its two-hundred day moving average price is $189.46. 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 company has a market cap of $10.90 billion, a PE ratio of 50.03, a PEG ratio of 4.49 and a beta of 0.94.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. On average, analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current 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.