100,900 Shares in Paylocity Holding Co. (NASDAQ:PCTY) Bought by Renaissance Technologies LLC

Renaissance Technologies LLC bought a new position in Paylocity Holding Co. (NASDAQ:PCTY) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 100,900 shares of the software maker’s stock, valued at approximately $13,304,000. Renaissance Technologies LLC owned approximately 0.18% of Paylocity as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sei Investments Co. increased its stake in shares of Paylocity by 25.2% in the fourth quarter. Sei Investments Co. now owns 192,028 shares of the software maker’s stock valued at $31,654,000 after buying an additional 38,613 shares during the period. Evoke Wealth LLC bought a new position in shares of Paylocity during the fourth quarter valued at $2,507,000. Wells Fargo & Company MN lifted its holdings in shares of Paylocity by 274.8% during the fourth quarter. Wells Fargo & Company MN now owns 65,010 shares of the software maker’s stock worth $10,717,000 after purchasing an additional 47,663 shares during the period. FORA Capital LLC bought a new stake in shares of Paylocity in the first quarter worth $1,540,000. Finally, Royal London Asset Management Ltd. acquired a new stake in Paylocity in the fourth quarter valued at $1,938,000. 94.76% of the stock is currently owned by institutional investors.

Paylocity Price Performance

Shares of Paylocity stock opened at $162.58 on Monday. The business has a 50-day simple moving average of $154.14 and a 200 day simple moving average of $154.68. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $206.28. The firm has a market capitalization of $9.17 billion, a price-to-earnings ratio of 47.26, a PEG ratio of 3.80 and a beta of 0.94.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, August 1st. The software maker reported $1.48 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $350.29 million. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s quarterly revenue was up 15.8% on a year-over-year basis. On average, sell-side analysts expect that Paylocity Holding Co. will post 4.51 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Ryan Glenn sold 1,400 shares of Paylocity 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 transaction, the chief financial officer now directly owns 31,074 shares in the company, valued at $4,352,224.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Steven R. Beauchamp sold 49,442 shares of the stock in a transaction on Monday, July 22nd. The stock was 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 approximately $248,979,738.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ryan Glenn sold 1,400 shares of Paylocity stock in a transaction on Monday, July 15th. The stock was sold at an average price of $140.06, for a total transaction of $196,084.00. Following the transaction, the chief financial officer now directly owns 31,074 shares in the company, valued at $4,352,224.44. The disclosure for this sale can be found here. Corporate insiders own 22.50% of the company’s stock.

Analyst Upgrades and Downgrades

PCTY has been the topic of several recent research reports. Robert W. Baird cut their target price on Paylocity from $225.00 to $195.00 and set an “outperform” rating on the stock in a report on Tuesday, June 18th. Citigroup decreased their target price on shares of Paylocity from $178.00 to $155.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Stifel Nicolaus dropped their price target on shares of Paylocity from $205.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Jefferies Financial Group decreased their price objective on shares of Paylocity from $180.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Finally, Barclays dropped their target price on shares of Paylocity from $160.00 to $156.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock 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.