SkyOak Wealth LLC Boosts Position in Paylocity Holding Co. (NASDAQ:PCTY)

SkyOak Wealth LLC boosted its position in Paylocity Holding Co. (NASDAQ:PCTY) by 7.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,837 shares of the software maker’s stock after purchasing an additional 122 shares during the period. SkyOak Wealth LLC’s holdings in Paylocity were worth $242,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PCTY. Principal Securities Inc. bought a new stake in Paylocity during the fourth quarter valued at approximately $41,000. Jump Financial LLC increased its stake in shares of Paylocity by 60.3% in the 4th quarter. Jump Financial LLC now owns 2,910 shares of the software maker’s stock worth $480,000 after purchasing an additional 1,095 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Paylocity by 6.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 208,662 shares of the software maker’s stock worth $34,401,000 after purchasing an additional 11,962 shares during the period. Janney Montgomery Scott LLC lifted its position in Paylocity by 36.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,635 shares of the software maker’s stock valued at $929,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in Paylocity by 45.7% during the fourth quarter. Panagora Asset Management Inc. now owns 6,729 shares of the software maker’s stock valued at $1,109,000 after purchasing an additional 2,111 shares during the period. 94.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PCTY has been the topic of several recent research reports. Citigroup decreased their price objective on Paylocity from $178.00 to $155.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. JMP Securities restated a “market outperform” rating and set a $250.00 target price on shares of Paylocity in a research note on Monday, August 5th. Barclays dropped their price target on shares of Paylocity from $160.00 to $156.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Piper Sandler lowered their target price on shares of Paylocity from $194.00 to $172.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $200.00 price target on shares of Paylocity in a research note on Thursday, September 5th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $179.13.

Insider Transactions at Paylocity

In related news, CFO Ryan Glenn sold 1,400 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $140.06, for a total transaction of $196,084.00. Following the completion of the transaction, the chief financial officer now owns 31,074 shares in the company, valued at approximately $4,352,224.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Steven R. Beauchamp sold 49,442 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the transaction, the chief executive officer now directly owns 1,745,022 shares of the company’s stock, valued at $248,979,738.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Ryan Glenn sold 1,400 shares of Paylocity stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $140.06, for a total transaction of $196,084.00. Following the sale, the chief financial officer now directly owns 31,074 shares of the company’s stock, valued at approximately $4,352,224.44. The disclosure for this sale can be found here. Company insiders own 22.50% of the company’s stock.

Paylocity Stock Down 0.3 %

NASDAQ PCTY opened at $160.76 on Thursday. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $206.28. The firm has a market capitalization of $9.07 billion, a price-to-earnings ratio of 46.73, a PEG ratio of 3.77 and a beta of 0.94. The company has a fifty day moving average of $153.15 and a two-hundred day moving average of $154.83.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, August 1st. The software maker reported $1.48 EPS for the quarter, beating the consensus estimate of $1.29 by $0.19. The company had revenue of $357.30 million for the quarter, compared to the consensus estimate of $350.29 million. Paylocity had a net margin of 14.74% and a return on equity of 22.17%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 EPS. Equities research analysts anticipate that Paylocity Holding Co. will post 4.51 EPS for the current year.

Paylocity 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.