Daiwa Securities Group Inc. Buys 200 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Daiwa Securities Group Inc. boosted its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 6.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,100 shares of the software maker’s stock after acquiring an additional 200 shares during the period. Daiwa Securities Group Inc.’s holdings in Paylocity were worth $409,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PCTY. Royal London Asset Management Ltd. boosted its holdings in shares of Paylocity by 3.1% during the 2nd quarter. Royal London Asset Management Ltd. now owns 34,766 shares of the software maker’s stock valued at $4,584,000 after buying an additional 1,049 shares in the last quarter. Dorsey & Whitney Trust CO LLC purchased a new position in shares of Paylocity in the 2nd quarter worth about $222,000. Van Berkom & Associates Inc. raised its position in shares of Paylocity by 20.5% in the 2nd quarter. Van Berkom & Associates Inc. now owns 579,801 shares of the software maker’s stock worth $76,447,000 after purchasing an additional 98,478 shares during the last quarter. Prudential PLC raised its position in shares of Paylocity by 129.6% in the 2nd quarter. Prudential PLC now owns 2,928 shares of the software maker’s stock worth $386,000 after purchasing an additional 1,653 shares during the last quarter. Finally, Quest Partners LLC grew its stake in shares of Paylocity by 82,275.0% during the 2nd quarter. Quest Partners LLC now owns 6,590 shares of the software maker’s stock valued at $869,000 after purchasing an additional 6,582 shares during the period. Institutional investors own 94.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Citigroup decreased their price objective on Paylocity from $178.00 to $155.00 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Barclays cut their target price on Paylocity from $160.00 to $156.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Piper Sandler dropped their price objective on shares of Paylocity from $194.00 to $172.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. JMP Securities reiterated a “market outperform” rating and set a $250.00 target price on shares of Paylocity in a research report on Monday, August 5th. Finally, TD Cowen decreased their target price on Paylocity from $180.00 to $153.00 and set a “buy” rating for the company in a research report on Thursday, June 20th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $179.13.

Paylocity Price Performance

Shares of PCTY stock opened at $157.03 on Tuesday. The company has a market cap of $8.73 billion, a price-to-earnings ratio of 45.65, a PEG ratio of 3.77 and a beta of 0.94. The stock has a 50 day simple moving average of $152.05 and a 200-day simple moving average of $154.84. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $206.28.

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

Insider Activity at Paylocity

In related news, CEO Steven R. Beauchamp sold 49,442 shares of the business’s stock in a transaction 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 directly owns 1,745,022 shares of the company’s stock, valued at approximately $248,979,738.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Steven R. Beauchamp sold 49,442 shares of the company’s stock in a transaction dated 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 directly owns 1,745,022 shares of the company’s stock, valued at approximately $248,979,738.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Ryan Glenn sold 1,400 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $140.06, for a total value of $196,084.00. Following the transaction, 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. Company insiders own 22.50% of the company’s stock.

Paylocity Company 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.