Paylocity Holding Co. (NASDAQ:PCTY) Shares Bought by Citigroup Inc.

Citigroup Inc. grew its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY – Get Rating) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,209 shares of the software maker’s stock after acquiring an additional 610 shares during the quarter. Citigroup Inc.’s holdings in Paylocity were worth $4,703,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Belpointe Asset Management LLC acquired a new position in shares of Paylocity during the 4th quarter valued at about $33,000. Allspring Global Investments Holdings LLC increased its position in Paylocity by 9,150.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 185 shares of the software maker’s stock worth $44,000 after purchasing an additional 183 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Paylocity during the 4th quarter worth approximately $38,000. Bessemer Group Inc. increased its position in Paylocity by 85.2% during the 3rd quarter. Bessemer Group Inc. now owns 313 shares of the software maker’s stock worth $76,000 after purchasing an additional 144 shares in the last quarter. Finally, Covestor Ltd increased its position in Paylocity by 88.1% during the 1st quarter. Covestor Ltd now owns 331 shares of the software maker’s stock worth $68,000 after purchasing an additional 155 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Insider Buying and Selling

In related news, CAO Nicholas Rost sold 284 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $172.13, for a total transaction of $48,884.92. Following the transaction, the chief accounting officer now directly owns 4,017 shares in the company, valued at $691,446.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Nicholas Rost sold 284 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $172.13, for a total transaction of $48,884.92. Following the transaction, the chief accounting officer now directly owns 4,017 shares in the company, valued at $691,446.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven I. Sarowitz sold 59,053 shares of the firm’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $203.83, for a total value of $12,036,772.99. Following the transaction, the director now owns 10,438,370 shares in the company, valued at $2,127,652,957.10. The disclosure for this sale can be found here. Insiders have sold 143,295 shares of company stock worth $26,828,122 over the last ninety days. 26.50% of the stock is owned by insiders.

Paylocity Trading Up 0.2 %

Paylocity stock opened at $173.77 on Friday. The stock has a market cap of $9.70 billion, a P/E ratio of 82.36 and a beta of 1.08. The stock has a 50 day moving average of $184.20 and a 200-day moving average of $196.73. Paylocity Holding Co. has a 52 week low of $152.01 and a 52 week high of $276.88.

Paylocity (NASDAQ:PCTY – Get Rating) last released its earnings results on Thursday, May 4th. The software maker reported $1.15 EPS for the quarter, beating the consensus estimate of $0.97 by $0.18. The company had revenue of $339.86 million during the quarter, compared to analysts’ expectations of $332.79 million. Paylocity had a return on equity of 20.23% and a net margin of 10.84%. As a group, equities analysts predict that Paylocity Holding Co. will post 2.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on PCTY. DA Davidson raised shares of Paylocity from a “neutral” rating to a “buy” rating and set a $245.00 target price for the company in a research report on Thursday, March 30th. They noted that the move was a valuation call. Needham & Company LLC reissued a “buy” rating and set a $325.00 target price on shares of Paylocity in a research report on Monday, February 13th. Robert W. Baird dropped their target price on shares of Paylocity from $311.00 to $280.00 in a research report on Friday, May 5th. KeyCorp increased their target price on shares of Paylocity from $295.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Finally, StockNews.com initiated coverage on Paylocity in a report on Thursday. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $263.33.

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.