Sanctuary Advisors LLC Invests $194,000 in Paylocity Holding Co. (NASDAQ:PCTY)

Sanctuary Advisors LLC bought a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,469 shares of the software maker’s stock, valued at approximately $194,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rothschild Investment LLC bought a new position in shares of Paylocity during the 2nd quarter worth approximately $40,000. J.Safra Asset Management Corp lifted its holdings in Paylocity by 80.0% during 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 last quarter. GAMMA Investing LLC lifted its holdings in Paylocity by 34.7% during 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 during the last quarter. RiverPark Advisors LLC lifted its holdings in Paylocity by 152.0% during 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 during the last quarter. Finally, Versant Capital Management Inc acquired a new stake in Paylocity during the 2nd quarter worth approximately $66,000. 94.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Rachit Lohani sold 658 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $162.83, for a total transaction of $107,142.14. Following the sale, the senior vice president now owns 39,764 shares in the company, valued at $6,474,772.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 22.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PCTY. Mizuho lifted their price target on Paylocity from $155.00 to $175.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. KeyCorp lifted their price target on Paylocity from $171.00 to $182.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Piper Sandler dropped their price target on Paylocity from $194.00 to $172.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Barclays lifted their price objective on Paylocity from $156.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $250.00 price objective on shares of Paylocity in a report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $182.40.

Paylocity Stock Performance

Paylocity stock opened at $172.09 on Monday. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $200.29. The stock has a market capitalization of $9.71 billion, a P/E ratio of 50.03, a price-to-earnings-growth ratio of 4.07 and a beta of 0.95. The stock has a fifty day moving average of $160.82 and a 200-day moving average of $154.25.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, August 1st. The software maker reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.19. The business had revenue of $357.30 million for the quarter, compared to analyst estimates of $350.29 million. Paylocity had a return on equity of 22.17% and a net margin of 14.74%. Paylocity’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS. On average, research analysts forecast that Paylocity Holding Co. will post 4.51 earnings per share for the current year.

About Paylocity

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.