SBI Securities Co. Ltd. Makes New $29,000 Investment in Paylocity Holding Co. (NASDAQ:PCTY)

SBI Securities Co. Ltd. purchased a new position in Paylocity Holding Co. (NASDAQ:PCTY) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 145 shares of the software maker’s stock, valued at approximately $29,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crossmark Global Holdings Inc. lifted its position in shares of Paylocity by 14.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,367 shares of the software maker’s stock worth $556,000 after purchasing an additional 428 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of Paylocity by 45.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 544 shares of the software maker’s stock worth $90,000 after purchasing an additional 169 shares during the last quarter. WCM Investment Management LLC lifted its position in shares of Paylocity by 32.6% during the 3rd quarter. WCM Investment Management LLC now owns 5,313 shares of the software maker’s stock worth $857,000 after purchasing an additional 1,306 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Paylocity by 297.6% during the 3rd quarter. Victory Capital Management Inc. now owns 119,560 shares of the software maker’s stock worth $19,724,000 after purchasing an additional 89,487 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its position in shares of Paylocity by 17.4% during the 3rd quarter. Zions Bancorporation N.A. now owns 10,025 shares of the software maker’s stock worth $1,654,000 after purchasing an additional 1,487 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Buying and Selling

In other Paylocity news, Director Steven I. Sarowitz sold 11,473 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $203.37, for a total transaction of $2,333,264.01. Following the transaction, the director now owns 8,344,545 shares of the company’s stock, valued at approximately $1,697,030,116.65. This represents a 0.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 29,187 shares of company stock worth $5,888,655 in the last three months. Insiders own 21.91% of the company’s stock.

Paylocity Trading Down 0.2 %

PCTY stock opened at $186.53 on Thursday. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80. The firm has a market cap of $10.42 billion, a P/E ratio of 47.83, a P/E/G ratio of 4.49 and a beta of 0.94. The business’s 50 day moving average is $202.45 and its 200-day moving average is $189.90. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. Equities analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Mizuho raised Paylocity from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $200.00 to $235.00 in a research report on Friday, January 31st. Piper Sandler reissued an “overweight” rating and set a $254.00 price objective (up previously from $212.00) on shares of Paylocity in a research report on Thursday, February 6th. Stifel Nicolaus upped their price target on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 7th. JMP Securities upped their price target on Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a report on Friday, February 7th. Finally, Needham & Company LLC upped their price target on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $233.25.

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.