Linden Thomas Advisory Services LLC Increases Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Linden Thomas Advisory Services LLC raised its holdings in Paylocity Holding Co. (NASDAQ:PCTYFree Report) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,756 shares of the software maker’s stock after purchasing an additional 136 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Paylocity were worth $1,279,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of PCTY. Allspring Global Investments Holdings LLC purchased a new stake in shares of Paylocity during the 4th quarter worth approximately $82,172,000. Liontrust Investment Partners LLP purchased a new stake in shares of Paylocity during the 3rd quarter worth approximately $90,181,000. Comerica Bank purchased a new stake in Paylocity in the 3rd quarter valued at approximately $18,506,000. Westfield Capital Management Co. LP lifted its stake in Paylocity by 26.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 472,517 shares of the software maker’s stock valued at $85,856,000 after buying an additional 99,781 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in Paylocity in the 3rd quarter valued at approximately $17,262,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Stock Down 1.7 %

PCTY stock opened at $156.16 on Thursday. The company has a market cap of $8.80 billion, a price-to-earnings ratio of 52.76, a PEG ratio of 3.44 and a beta of 0.87. The business has a fifty day simple moving average of $167.94 and a 200-day simple moving average of $165.42. Paylocity Holding Co. has a 52 week low of $139.40 and a 52 week high of $230.52.

Paylocity (NASDAQ:PCTYGet Free Report) last released its quarterly earnings data on Thursday, February 8th. The software maker reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. The business had revenue of $326.36 million during the quarter, compared to the consensus estimate of $324.34 million. Paylocity had a return on equity of 21.37% and a net margin of 12.96%. As a group, analysts expect that Paylocity Holding Co. will post 3.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Piper Sandler upped their target price on Paylocity from $207.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $180.00 target price (down previously from $240.00) on shares of Paylocity in a research note on Friday, January 5th. Citigroup upped their target price on Paylocity from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, January 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $200.00 target price on shares of Paylocity in a research note on Friday, February 9th. Finally, Truist Financial cut their price target on Paylocity from $250.00 to $200.00 and set a “buy” rating for the company in a report on Friday, February 9th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.13.

Read Our Latest Report on PCTY

Insider Activity at Paylocity

In related news, Director Jeffrey T. Diehl sold 20,032 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $168.55, for a total value of $3,376,393.60. Following the completion of the sale, the director now directly owns 16,391 shares in the company, valued at approximately $2,762,703.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Jeffrey T. Diehl sold 20,032 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $168.55, for a total value of $3,376,393.60. Following the completion of the sale, the director now directly owns 16,391 shares in the company, valued at approximately $2,762,703.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Steven I. Sarowitz sold 24,504 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $175.47, for a total value of $4,299,716.88. Following the completion of the sale, the director now owns 9,587,872 shares of the company’s stock, valued at $1,682,383,899.84. The disclosure for this sale can be found here. In the last three months, insiders sold 54,547 shares of company stock worth $9,356,359. Corporate insiders own 22.50% of the company’s stock.

About Paylocity

(Free Report)

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.

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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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