Vanguard Group Inc. Buys 13,962 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Vanguard Group Inc. raised its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,158,224 shares of the software maker’s stock after acquiring an additional 13,962 shares during the period. Vanguard Group Inc. owned approximately 7.38% of Paylocity worth $685,483,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PCTY. Wasatch Advisors LP grew its position in Paylocity by 13.1% in the 4th quarter. Wasatch Advisors LP now owns 1,774,746 shares of the software maker’s stock valued at $292,567,000 after acquiring an additional 205,065 shares during the last quarter. Capital International Investors increased its stake in Paylocity by 119.0% in the 4th quarter. Capital International Investors now owns 1,211,021 shares of the software maker’s stock worth $199,637,000 after buying an additional 658,057 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Paylocity during the 4th quarter valued at about $82,172,000. Westfield Capital Management Co. LP boosted its position in Paylocity by 2.2% in the 4th quarter. Westfield Capital Management Co. LP now owns 483,015 shares of the software maker’s stock valued at $79,625,000 after buying an additional 10,498 shares during the period. Finally, Northern Trust Corp grew its stake in Paylocity by 2.3% in the 3rd quarter. Northern Trust Corp now owns 441,200 shares of the software maker’s stock worth $80,166,000 after acquiring an additional 9,893 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PCTY shares. Needham & Company LLC reiterated a “buy” rating and issued a $200.00 price target on shares of Paylocity in a report on Friday, May 3rd. Citigroup lowered their target price on Paylocity from $178.00 to $155.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. KeyCorp raised their price target on Paylocity from $186.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. TD Cowen lowered their price objective on shares of Paylocity from $180.00 to $153.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Stifel Nicolaus cut their target price on shares of Paylocity from $205.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Paylocity presently has a consensus rating of “Moderate Buy” and an average price target of $192.71.

Paylocity Stock Performance

Shares of NASDAQ PCTY opened at $135.98 on Monday. Paylocity Holding Co. has a fifty-two week low of $132.61 and a fifty-two week high of $230.52. The company has a market cap of $7.67 billion, a PE ratio of 39.53, a P/E/G ratio of 2.48 and a beta of 0.89. The business has a 50-day simple moving average of $153.94 and a two-hundred day simple moving average of $161.11.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, May 2nd. The software maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.29. Paylocity had a net margin of 14.42% and a return on equity of 22.08%. The company had revenue of $401.28 million during the quarter, compared to analysts’ expectations of $396.93 million. On average, sell-side analysts predict that Paylocity Holding Co. will post 3.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Paylocity news, CAO Nicholas Rost sold 331 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $138.73, for a total transaction of $45,919.63. Following the sale, the chief accounting officer now owns 4,751 shares in the company, valued at approximately $659,106.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 22.50% of the stock is currently owned by company insiders.

Paylocity Company 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.