Arrowstreet Capital Limited Partnership Has $15.06 Million Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Arrowstreet Capital Limited Partnership lifted its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 128.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,501 shares of the software maker’s stock after purchasing an additional 42,451 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Paylocity were worth $15,060,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of PCTY. Certuity LLC acquired a new position in Paylocity during the 4th quarter worth about $232,000. Barclays PLC lifted its stake in shares of Paylocity by 14.3% in the third quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock worth $7,407,000 after acquiring an additional 5,609 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Paylocity by 5,742.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker’s stock valued at $1,165,000 after acquiring an additional 5,742 shares during the last quarter. Geode Capital Management LLC increased its position in Paylocity by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock valued at $173,053,000 after purchasing an additional 36,590 shares during the period. Finally, Park Avenue Securities LLC raised its holdings in Paylocity by 63.3% during the 4th quarter. Park Avenue Securities LLC now owns 5,590 shares of the software maker’s stock worth $1,115,000 after purchasing an additional 2,167 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Insider Buying and Selling

In other news, Director Steven I. Sarowitz sold 26,252 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.91, for a total value of $5,116,777.32. Following the completion of the sale, the director now owns 420,000 shares in the company, valued at $81,862,200. This represents a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 21.91% of the stock is currently owned by corporate insiders.

Paylocity Stock Down 4.3 %

Shares of NASDAQ PCTY opened at $174.88 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. The company has a 50-day moving average price of $199.66 and a 200-day moving average price of $193.20. The stock has a market capitalization of $9.77 billion, a P/E ratio of 44.84, a P/E/G ratio of 4.49 and a beta of 0.76. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (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%. On average, equities research analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and set a $254.00 price objective (up from $212.00) on shares of Paylocity in a research report on Thursday, February 6th. TD Cowen decreased their price target on Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a report on Monday, January 6th. Jefferies Financial Group lifted their price objective on Paylocity from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Citigroup upgraded Paylocity from a “neutral” rating to a “buy” rating and upped their target price for the company from $214.00 to $231.00 in a research report on Thursday, January 16th. Finally, Raymond James reiterated an “outperform” rating and issued a $265.00 target price (up from $215.00) on shares of Paylocity in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $233.25.

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.