34,182 Shares in Paylocity Holding Co. (NASDAQ:PCTY) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 34,182 shares of the software maker’s stock, valued at approximately $6,818,000. Raymond James Financial Inc. owned 0.06% of Paylocity at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCTY. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Paylocity during the 3rd quarter worth $2,176,000. Charles Schwab Investment Management Inc. increased its stake in Paylocity by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker’s stock worth $46,592,000 after buying an additional 4,697 shares during the period. Cerity Partners LLC increased its stake in Paylocity by 28.6% during the 3rd quarter. Cerity Partners LLC now owns 17,046 shares of the software maker’s stock worth $2,812,000 after buying an additional 3,794 shares during the period. Fisher Asset Management LLC increased its stake in Paylocity by 3.2% during the 3rd quarter. Fisher Asset Management LLC now owns 76,160 shares of the software maker’s stock worth $12,564,000 after buying an additional 2,354 shares during the period. Finally, Associated Banc Corp acquired a new position in Paylocity during the 3rd quarter worth $216,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Activity

In related news, Director Steven I. Sarowitz sold 1,400 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $200.59, for a total transaction of $280,826.00. Following the completion of the transaction, the director now owns 8,338,430 shares of the company’s stock, valued at $1,672,605,673.70. This trade represents a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 7,083 shares of company stock valued at $1,420,041. Company insiders own 21.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PCTY. JMP Securities boosted 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. Needham & Company LLC upped their price target on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, February 7th. KeyCorp upped their price target on Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Stifel Nicolaus upped their price target on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, TD Cowen dropped their price target on Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $233.25.

Paylocity Price Performance

Shares of PCTY opened at $191.91 on Monday. The firm has a market capitalization of $10.73 billion, a price-to-earnings ratio of 49.21, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $223.80. The stock’s fifty day moving average is $201.44 and its 200-day moving average is $191.46.

Paylocity (NASDAQ:PCTY) last issued 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 net margin of 14.76% and a return on equity of 22.45%. Equities analysts anticipate that Paylocity Holding Co. will post 4.36 EPS for the current year.

Paylocity Profile

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.