Wellington Management Group LLP Has $6.85 Million Position in Paylocity Holding Co. (NASDAQ:PCTY)

Wellington Management Group LLP boosted its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 240.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,525 shares of the software maker’s stock after purchasing an additional 29,338 shares during the quarter. Wellington Management Group LLP owned about 0.07% of Paylocity worth $6,845,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal London Asset Management Ltd. bought a new stake in Paylocity during the fourth quarter worth $1,938,000. Chicago Partners Investment Group LLC bought a new stake in shares of Paylocity in the 4th quarter worth $356,000. V Square Quantitative Management LLC raised its holdings in shares of Paylocity by 84.9% in the fourth quarter. V Square Quantitative Management LLC now owns 466 shares of the software maker’s stock valued at $77,000 after purchasing an additional 214 shares during the last quarter. Owls Nest Partners IA LLC bought a new position in shares of Paylocity during the fourth quarter valued at about $29,038,000. Finally, Gillson Capital LP boosted its holdings in Paylocity by 43.1% during the fourth quarter. Gillson Capital LP now owns 42,499 shares of the software maker’s stock worth $7,006,000 after purchasing an additional 12,793 shares during the last quarter. 94.76% of the stock is owned by institutional investors.

Paylocity Trading Down 0.3 %

Shares of NASDAQ:PCTY opened at $131.85 on Friday. The company has a market capitalization of $7.44 billion, a PE ratio of 38.33, a PEG ratio of 2.41 and a beta of 0.89. Paylocity Holding Co. has a 12-month low of $131.00 and a 12-month high of $230.52. The business has a 50 day moving average of $151.34 and a two-hundred day moving average of $160.29.

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

Analysts Set New Price Targets

PCTY has been the topic of several research analyst reports. KeyCorp boosted their price objective on Paylocity from $186.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Robert W. Baird cut their price target on shares of Paylocity from $225.00 to $195.00 and set an “outperform” rating on the stock in a report on Tuesday, June 18th. Stifel Nicolaus decreased their price objective on shares of Paylocity from $205.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Jefferies Financial Group lowered their price objective on shares of Paylocity from $180.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Finally, Barclays increased their target price on shares of Paylocity from $166.00 to $178.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $190.65.

Insider Activity at Paylocity

In other Paylocity news, CAO Nicholas Rost sold 331 shares of Paylocity stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $138.73, for a total transaction of $45,919.63. Following the transaction, the chief accounting officer now directly owns 4,751 shares of the company’s stock, valued at $659,106.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 22.50% of the company’s stock.

About Paylocity

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.