Lombard Odier Asset Management USA Corp Takes $867,000 Position in Paylocity Holding Co. (NASDAQ:PCTY)

Lombard Odier Asset Management USA Corp acquired a new stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 6,575 shares of the software maker’s stock, valued at approximately $867,000.

Other large investors also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp raised its position in Paylocity by 80.0% in the 1st quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock worth $42,000 after purchasing an additional 108 shares during the period. Principal Securities Inc. bought a new stake in Paylocity in the 4th quarter worth $41,000. Rothschild Investment LLC bought a new stake in Paylocity in the 2nd quarter worth $40,000. GAMMA Investing LLC grew its holdings in Paylocity by 34.7% in the 1st quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock worth $52,000 after acquiring an additional 78 shares during the last quarter. Finally, RiverPark Advisors LLC grew its holdings in Paylocity by 152.0% in the 1st quarter. RiverPark Advisors LLC now owns 383 shares of the software maker’s stock worth $66,000 after acquiring an additional 231 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Stock Down 0.5 %

PCTY opened at $162.58 on Monday. The firm has a 50 day moving average price of $154.14 and a 200-day moving average price of $154.68. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $206.28. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of 47.26, a PEG ratio of 3.80 and a beta of 0.94.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, August 1st. The software maker reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.19. Paylocity had a net margin of 14.74% and a return on equity of 22.17%. The firm had revenue of $357.30 million during the quarter, compared to analysts’ expectations of $350.29 million. During the same period in the previous year, the company earned $0.76 earnings per share. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, analysts expect that Paylocity Holding Co. will post 4.51 earnings per share for the current year.

Insider Buying and Selling at Paylocity

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

Wall Street Analysts Forecast Growth

PCTY has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their price target on shares of Paylocity from $180.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Piper Sandler cut 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. 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 note on Wednesday, June 5th. KeyCorp dropped their price objective on shares of Paylocity from $200.00 to $171.00 and set an “overweight” rating on the stock in a research note on Friday, July 19th. Finally, Citigroup dropped their price objective on shares of Paylocity from $178.00 to $155.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $179.13.

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.