Values First Advisors Inc. Makes New Investment in Paylocity Holding Co. (NASDAQ:PCTY)

Values First Advisors Inc. bought a new position in Paylocity Holding Co. (NASDAQ:PCTY) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,019 shares of the software maker’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Certuity LLC purchased a new stake in Paylocity in the fourth quarter worth about $232,000. Louisiana State Employees Retirement System raised its holdings in shares of Paylocity by 0.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the software maker’s stock valued at $2,414,000 after purchasing an additional 100 shares in the last quarter. Shaker Investments LLC OH lifted its position in shares of Paylocity by 59.2% in the 4th quarter. Shaker Investments LLC OH now owns 18,567 shares of the software maker’s stock worth $3,704,000 after purchasing an additional 6,902 shares during the period. Peterson Wealth Services boosted its stake in shares of Paylocity by 5.5% during the fourth quarter. Peterson Wealth Services now owns 4,999 shares of the software maker’s stock valued at $997,000 after purchasing an additional 261 shares in the last quarter. Finally, Summit Trail Advisors LLC purchased a new position in Paylocity during the fourth quarter valued at approximately $400,000. Institutional investors own 94.76% of the company’s stock.

Insider Activity at Paylocity

In related news, CFO Ryan Glenn sold 2,600 shares of Paylocity stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $205.40, for a total transaction of $534,040.00. Following the completion of the transaction, the chief financial officer now directly owns 48,150 shares in the company, valued at approximately $9,890,010. This trade represents a 5.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven I. Sarowitz sold 10,237 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $210.10, for a total value of $2,150,793.70. Following the completion of the sale, the director now owns 9,214,115 shares in the company, valued at approximately $1,935,885,561.50. This represents a 0.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,380 shares of company stock worth $25,830,669 over the last three months. Company insiders own 21.91% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on PCTY shares. Jefferies Financial Group increased their target price on Paylocity from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Mizuho upgraded Paylocity from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $200.00 to $235.00 in a research note on Friday, January 31st. Truist Financial boosted their target price on shares of Paylocity from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, November 1st. UBS Group raised their price target on shares of Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, Needham & Company LLC boosted their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Paylocity has an average rating of “Moderate Buy” and an average price target of $233.25.

Paylocity Stock Up 2.4 %

Paylocity stock opened at $214.10 on Thursday. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. The company has a market cap of $11.94 billion, a PE ratio of 54.90, a PEG ratio of 5.19 and a beta of 0.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The business’s 50-day simple moving average is $201.36 and its two-hundred day simple moving average is $182.58.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a return on equity of 22.93% and a net margin of 14.76%. Equities analysts anticipate that Paylocity Holding Co. will post 4.46 EPS for the current year.

About Paylocity

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.