Paylocity Holding Co. (NASDAQ:PCTY) Shares Purchased by Millennium Management LLC

Millennium Management LLC boosted its position in Paylocity Holding Co. (NASDAQ:PCTY) by 435.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 331,253 shares of the software maker’s stock after purchasing an additional 269,354 shares during the quarter. Millennium Management LLC owned about 0.60% of Paylocity worth $43,676,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp lifted its stake in shares of Paylocity by 80.0% in the first quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock worth $42,000 after buying an additional 108 shares in the last quarter. Rothschild Investment LLC acquired a new stake in Paylocity in the 2nd quarter valued at about $40,000. GAMMA Investing LLC lifted its stake 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 purchasing an additional 78 shares in the last quarter. RiverPark Advisors LLC lifted its stake 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 purchasing an additional 231 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in Paylocity by 46.6% in the 1st quarter. Advisors Asset Management Inc. now owns 428 shares of the software maker’s stock worth $74,000 after purchasing an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Activity 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 shares were sold at an average price of $140.06, for a total value 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 is available through this hyperlink. In other news, CEO Steven R. Beauchamp sold 49,442 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $142.68, for a total value of $7,054,384.56. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through this link. Also, CFO Ryan Glenn sold 1,400 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold a total of 50,974 shares of company stock valued at $7,272,256 over the last ninety days. Insiders own 22.50% of the company’s stock.

Paylocity Trading Down 1.3 %

Paylocity stock opened at $162.87 on Wednesday. The stock has a market cap of $9.19 billion, a P/E ratio of 47.47, a price-to-earnings-growth ratio of 4.01 and a beta of 0.94. The company has a fifty day simple moving average of $156.25 and a 200-day simple moving average of $154.52. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $206.28.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PCTY. Stifel Nicolaus decreased 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. Citigroup decreased their target price 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. Needham & Company LLC restated a “buy” rating and set a $200.00 price target on shares of Paylocity in a report on Thursday, September 5th. Truist Financial cut their price target on shares of Paylocity from $200.00 to $195.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Jefferies Financial Group cut their price target on shares of Paylocity from $180.00 to $145.00 and set a “hold” rating for the company in a report on Monday, June 24th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Paylocity presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.13.

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.