Park Avenue Securities LLC Buys 234 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Park Avenue Securities LLC increased its stake in Paylocity Holding Co. (NASDAQ:PCTYGet Rating) by 9.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,658 shares of the software maker’s stock after buying an additional 234 shares during the quarter. Park Avenue Securities LLC’s holdings in Paylocity were worth $547,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PCTY. Parallel Advisors LLC lifted its position in shares of Paylocity by 101.7% during the first quarter. Parallel Advisors LLC now owns 121 shares of the software maker’s stock worth $25,000 after purchasing an additional 61 shares during the last quarter. Covestor Ltd bought a new stake in shares of Paylocity during the fourth quarter worth $42,000. Masso Torrence Wealth Management Inc. bought a new stake in shares of Paylocity during the fourth quarter worth $45,000. First Horizon Advisors Inc. lifted its position in shares of Paylocity by 211.7% during the fourth quarter. First Horizon Advisors Inc. now owns 321 shares of the software maker’s stock worth $75,000 after purchasing an additional 218 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Paylocity during the fourth quarter worth $78,000. 69.01% of the stock is currently owned by institutional investors.

Paylocity Stock Performance

Shares of PCTY stock opened at $195.52 on Monday. Paylocity Holding Co. has a fifty-two week low of $152.01 and a fifty-two week high of $314.49. The firm has a market capitalization of $10.78 billion, a price-to-earnings ratio of 126.14 and a beta of 1.24. The stock’s 50-day simple moving average is $176.11 and its 200-day simple moving average is $190.73.

Paylocity (NASDAQ:PCTYGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The software maker reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.20. Paylocity had a return on equity of 17.32% and a net margin of 11.06%. The business had revenue of $245.97 million for the quarter, compared to analyst estimates of $241.64 million. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The company’s revenue was up 32.2% on a year-over-year basis. As a group, equities analysts forecast that Paylocity Holding Co. will post 1.44 earnings per share for the current year.

Insider Transactions at Paylocity

In related news, COO Michael R. Haske sold 33,355 shares of Paylocity stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $200.00, for a total transaction of $6,671,000.00. Following the completion of the sale, the chief operating officer now owns 775,885 shares of the company’s stock, valued at $155,177,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Michael R. Haske sold 33,355 shares of Paylocity stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $200.00, for a total transaction of $6,671,000.00. Following the completion of the sale, the chief operating officer now owns 775,885 shares of the company’s stock, valued at $155,177,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven R. Beauchamp sold 49,658 shares of Paylocity stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $200.00, for a total value of $9,931,600.00. Following the sale, the chief executive officer now directly owns 1,780,014 shares of the company’s stock, valued at approximately $356,002,800. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 133,719 shares of company stock worth $24,939,262. Insiders own 28.80% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on PCTY shares. Piper Sandler decreased their target price on Paylocity from $232.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday, July 18th. StockNews.com initiated coverage on Paylocity in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Cowen cut their price target on Paylocity from $265.00 to $240.00 in a research note on Friday, May 6th. Wolfe Research upgraded Paylocity from a “market perform” rating to an “outperform” rating and raised their price target for the company from $220.00 to $240.00 in a research note on Friday, April 22nd. Finally, KeyCorp cut their price target on Paylocity from $225.00 to $205.00 and set an “overweight” rating on the stock in a research note on Thursday, June 23rd. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.63.

About Paylocity

(Get Rating)

Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Payroll and Tax Services solution to simplify payroll, automate processes and manage compliance requirements within one system; expense management, on demand payment, and garnishment solutions; human capital management and employee self-service solutions, document library, compliance dashboard, and HR edge; time and attendance solution, which tracks time and attendance data, eliminating the need for manual tracking of accruals and reducing administrative tasks; schedule tracking services; and time collection devices, including kiosks, time clocks, and mobile and web applications.

Recommended Stories

Want to see what other hedge funds are holding PCTY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paylocity Holding Co. (NASDAQ:PCTYGet Rating).

Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

Receive News & Ratings for Paylocity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paylocity and related companies with MarketBeat.com's FREE daily email newsletter.