Vestcor Inc Boosts Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Vestcor Inc raised its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 50.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 15,000 shares of the software maker’s stock after purchasing an additional 5,000 shares during the period. Vestcor Inc’s holdings in Paylocity were worth $2,992,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PCTY. CIBC Asset Management Inc grew its position in shares of Paylocity by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker’s stock worth $273,000 after buying an additional 58 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Paylocity by 29.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock worth $55,000 after acquiring an additional 63 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Paylocity by 41.1% during the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after acquiring an additional 72 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Paylocity by 2.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,156 shares of the software maker’s stock worth $630,000 after acquiring an additional 77 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in shares of Paylocity by 5.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 1,940 shares of the software maker’s stock worth $387,000 after acquiring an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Trading Down 1.8 %

Shares of PCTY opened at $183.21 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. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80. The firm has a 50-day moving average price of $202.21 and a 200 day moving average price of $189.85. The firm has a market capitalization of $10.24 billion, a P/E ratio of 46.98, a P/E/G ratio of 4.49 and a beta of 0.94.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. Sell-side analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current year.

Wall Street Analysts Forecast Growth

PCTY has been the subject of several recent analyst reports. Raymond James reiterated an “outperform” rating and set a $265.00 price objective (up previously from $215.00) on shares of Paylocity in a research note on Friday, February 7th. Jefferies Financial Group boosted their target price on shares of Paylocity from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. 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 shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, JMP Securities boosted their target price on shares of Paylocity from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.25.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 2,600 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $200.14, for a total transaction of $520,364.00. Following the completion of the transaction, the director now owns 8,332,347 shares of the company’s stock, valued at $1,667,635,928.58. This trade represents a 0.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 18,566 shares of company stock valued at $3,755,321 over the last 90 days. 21.91% of the stock is owned by company insiders.

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.