Blue Trust Inc. Acquires 623 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Blue Trust Inc. boosted its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 1,832.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 657 shares of the software maker’s stock after buying an additional 623 shares during the quarter. Blue Trust Inc.’s holdings in Paylocity were worth $108,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Paylocity by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock worth $1,518,176,000 after acquiring an additional 278,607 shares during the period. Capital Research Global Investors bought a new position in Paylocity during the first quarter worth $46,902,000. Millennium Management LLC increased its holdings in shares of Paylocity by 435.2% in the second quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock valued at $43,676,000 after purchasing an additional 269,354 shares during the last quarter. Liontrust Investment Partners LLP increased its holdings in shares of Paylocity by 27.1% in the second quarter. Liontrust Investment Partners LLP now owns 810,314 shares of the software maker’s stock valued at $106,840,000 after purchasing an additional 172,807 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of Paylocity by 1,662.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 181,920 shares of the software maker’s stock valued at $23,986,000 after purchasing an additional 171,597 shares during the period. Institutional investors own 94.76% of the company’s stock.

Analysts Set New Price Targets

PCTY has been the subject of several research analyst reports. Jefferies Financial Group raised shares of Paylocity from a “hold” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $200.00 in a report on Tuesday, October 22nd. BTIG Research reduced their price objective on Paylocity from $200.00 to $185.00 and set a “buy” rating for the company in a report 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 note on Monday, August 5th. Truist Financial reduced their price target on Paylocity from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, KeyCorp upped their price objective on Paylocity from $182.00 to $187.00 and gave the company an “overweight” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $184.71.

Insider Buying and Selling at Paylocity

In other 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 completion of the transaction, the senior vice president now owns 39,764 shares of the company’s stock, valued at approximately $6,474,772.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 21.91% of the company’s stock.

Paylocity Stock Up 0.8 %

PCTY opened at $175.13 on Tuesday. The stock has a market capitalization of $9.76 billion, a price-to-earnings ratio of 48.11, a P/E/G ratio of 4.20 and a beta of 0.95. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $184.77. The company has a 50-day simple moving average of $162.93 and a 200 day simple moving average of $154.44.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results 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 company had revenue of $357.30 million during the quarter, compared to the consensus estimate of $350.29 million. Paylocity had a net margin of 14.74% and a return on equity of 22.17%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 EPS. Sell-side analysts anticipate that Paylocity Holding Co. will post 4.51 EPS for the current fiscal year.

Paylocity Company 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.