Comerica Bank grew its position in shares of Paylocity Holding Corp (NASDAQ:PCTY) by 80.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,601 shares of the software maker’s stock after purchasing an additional 11,824 shares during the quarter. Comerica Bank’s holdings in Paylocity were worth $2,668,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in PCTY. Hardy Reed LLC grew its position in Paylocity by 6.3% during the 3rd quarter. Hardy Reed LLC now owns 2,378 shares of the software maker’s stock worth $232,000 after acquiring an additional 140 shares during the last quarter. Rehmann Capital Advisory Group grew its position in shares of Paylocity by 14.0% in the 2nd quarter. Rehmann Capital Advisory Group now owns 1,196 shares of the software maker’s stock worth $112,000 after buying an additional 147 shares during the last quarter. Cim LLC grew its position in shares of Paylocity by 2.3% in the 3rd quarter. Cim LLC now owns 6,676 shares of the software maker’s stock worth $651,000 after buying an additional 150 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Paylocity by 38.5% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 568 shares of the software maker’s stock worth $53,000 after buying an additional 158 shares during the last quarter. Finally, Aperio Group LLC grew its position in shares of Paylocity by 9.2% in the 2nd quarter. Aperio Group LLC now owns 2,479 shares of the software maker’s stock worth $233,000 after buying an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 66.47% of the company’s stock.
NASDAQ:PCTY traded down $0.18 during trading hours on Wednesday, reaching $119.76. 286,879 shares of the company traded hands, compared to its average volume of 335,435. The business’s 50-day moving average price is $107.79 and its two-hundred day moving average price is $102.59. The stock has a market capitalization of $6.55 billion, a P/E ratio of 110.89, a P/E/G ratio of 5.64 and a beta of 1.54. Paylocity Holding Corp has a 1 year low of $53.46 and a 1 year high of $122.65. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.25.
Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Wednesday, October 30th. The software maker reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.25. The business had revenue of $126.72 million during the quarter, compared to analysts’ expectations of $124.15 million. Paylocity had a return on equity of 19.03% and a net margin of 11.78%. The firm’s quarterly revenue was up 26.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.20 earnings per share. As a group, equities analysts anticipate that Paylocity Holding Corp will post 1.09 EPS for the current year.
In other news, SVP Mark S. Kinsey sold 538 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $117.00, for a total value of $62,946.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Andrew Cappotelli sold 2,109 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $120.10, for a total value of $253,290.90. Following the completion of the transaction, the chief accounting officer now owns 12,883 shares of the company’s stock, valued at approximately $1,547,248.30. The disclosure for this sale can be found here. Insiders sold 478,495 shares of company stock valued at $55,412,511 in the last 90 days. Company insiders own 37.80% of the company’s stock.
A number of equities research analysts have recently weighed in on PCTY shares. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price objective on shares of Paylocity in a research report on Thursday, October 31st. ValuEngine upgraded Paylocity from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. KeyCorp raised their target price on Paylocity from $115.00 to $124.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Jefferies Financial Group raised their target price on Paylocity to $115.00 in a research note on Thursday, August 8th. Finally, BidaskClub upgraded Paylocity from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Paylocity presently has a consensus rating of “Buy” and an average target price of $110.50.
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.
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