4,754 Shares in Paylocity Holding Co. (NASDAQ:PCTY) Purchased by Trexquant Investment LP

Trexquant Investment LP bought a new stake in Paylocity Holding Co. (NASDAQ:PCTY – Get Rating) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,754 shares of the software maker’s stock, valued at approximately $1,148,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCTY. Allspring Global Investments Holdings LLC boosted its stake in Paylocity by 9,150.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 185 shares of the software maker’s stock valued at $44,000 after acquiring an additional 183 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Paylocity by 39.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 277 shares of the software maker’s stock valued at $48,000 after acquiring an additional 78 shares during the last quarter. Covestor Ltd boosted its stake in Paylocity by 88.1% in the first quarter. Covestor Ltd now owns 331 shares of the software maker’s stock valued at $68,000 after acquiring an additional 155 shares during the last quarter. Bessemer Group Inc. boosted its stake in Paylocity by 85.2% in the third quarter. Bessemer Group Inc. now owns 313 shares of the software maker’s stock valued at $76,000 after acquiring an additional 144 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Paylocity by 109.5% in the second quarter. Quadrant Capital Group LLC now owns 440 shares of the software maker’s stock valued at $77,000 after acquiring an additional 230 shares during the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PCTY. KeyCorp boosted their price target on shares of Paylocity from $295.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Cowen boosted their price target on shares of Paylocity from $231.00 to $265.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. JMP Securities reissued a “market outperform” rating and issued a $320.00 price target on shares of Paylocity in a research report on Friday, February 3rd. Needham & Company LLC reissued a “buy” rating and issued a $325.00 price target on shares of Paylocity in a research report on Monday, February 13th. Finally, Robert W. Baird upped their target price on shares of Paylocity from $305.00 to $311.00 in a report on Friday, February 3rd. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $272.71.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $176.22 on Tuesday. The company’s fifty day moving average price is $200.74 and its 200-day moving average price is $215.22. The firm has a market capitalization of $9.83 billion, a price-to-earnings ratio of 103.05 and a beta of 1.07. Paylocity Holding Co. has a one year low of $152.01 and a one year high of $276.88.

Paylocity (NASDAQ:PCTY – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The software maker reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.10. The firm had revenue of $273.01 million for the quarter, compared to analyst estimates of $259.78 million. Paylocity had a net margin of 9.58% and a return on equity of 18.52%. As a group, equities research analysts expect that Paylocity Holding Co. will post 2 EPS for the current year.

Insider Activity

In other news, CFO Ryan Glenn sold 1,250 shares of the company’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $214.95, for a total value of $268,687.50. Following the completion of the sale, the chief financial officer now owns 23,288 shares of the company’s stock, valued at approximately $5,005,755.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Paylocity news, CEO Toby J. Williams sold 8,000 shares of the stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $217.63, for a total transaction of $1,741,040.00. Following the completion of the sale, the chief executive officer now owns 107,176 shares of the company’s stock, valued at approximately $23,324,712.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ryan Glenn sold 1,250 shares of the stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $214.95, for a total transaction of $268,687.50. Following the sale, the chief financial officer now directly owns 23,288 shares of the company’s stock, valued at approximately $5,005,755.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 175,992 shares of company stock valued at $36,439,707. Corporate insiders own 26.50% of the company’s stock.

Paylocity Company Profile

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Paylocity Holding Corp. engages in the development and provision of cloud-based software solutions. It offers cloud-based payroll, human capital management applications, time labor tracking, benefits administration, and talent management. The company was founded by Steve I. Sarowitz in 1997 and is headquartered in Schaumburg, IL.