Cerity Partners LLC Buys 744 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Cerity Partners LLC increased its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 51.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,198 shares of the software maker’s stock after acquiring an additional 744 shares during the quarter. Cerity Partners LLC’s holdings in Paylocity were worth $362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC grew its position in shares of Paylocity by 18.1% in the 3rd quarter. CWM LLC now owns 412 shares of the software maker’s stock worth $75,000 after buying an additional 63 shares during the last quarter. Seven Eight Capital LP boosted its position in shares of Paylocity by 4.9% during the third quarter. Seven Eight Capital LP now owns 1,658 shares of the software maker’s stock valued at $301,000 after purchasing an additional 78 shares in the last quarter. Leelyn Smith LLC boosted its position in shares of Paylocity by 1.6% during the third quarter. Leelyn Smith LLC now owns 5,640 shares of the software maker’s stock valued at $1,025,000 after purchasing an additional 88 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Paylocity by 8.6% during the third quarter. Parkside Financial Bank & Trust now owns 1,150 shares of the software maker’s stock valued at $209,000 after purchasing an additional 91 shares in the last quarter. Finally, State of Michigan Retirement System boosted its position in shares of Paylocity by 1.0% during the third quarter. State of Michigan Retirement System now owns 10,272 shares of the software maker’s stock valued at $1,866,000 after purchasing an additional 100 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

Insider Activity at Paylocity

In related news, Director Steven I. Sarowitz sold 24,504 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $175.47, for a total transaction of $4,299,716.88. Following the completion of the sale, the director now owns 9,587,872 shares in the company, valued at $1,682,383,899.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Paylocity news, Director Steven I. Sarowitz sold 24,504 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $175.47, for a total transaction of $4,299,716.88. Following the completion of the sale, the director now owns 9,587,872 shares of the company’s stock, valued at $1,682,383,899.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey T. Diehl sold 1,760 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $171.64, for a total value of $302,086.40. Following the sale, the director now directly owns 14,704 shares of the company’s stock, valued at approximately $2,523,794.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,547 shares of company stock worth $9,356,359. 22.50% of the stock is owned by insiders.

Paylocity Price Performance

PCTY stock opened at $157.06 on Friday. The stock has a market capitalization of $8.85 billion, a P/E ratio of 53.06, a P/E/G ratio of 3.39 and a beta of 0.87. Paylocity Holding Co. has a 1-year low of $139.40 and a 1-year high of $230.52. The business has a fifty day moving average price of $167.16 and a 200-day moving average price of $165.04.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, February 8th. The software maker reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.08. The company had revenue of $326.36 million during the quarter, compared to analysts’ expectations of $324.34 million. Paylocity had a return on equity of 21.37% and a net margin of 12.96%. As a group, analysts anticipate that Paylocity Holding Co. will post 3.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PCTY. KeyCorp dropped their price target on Paylocity from $197.00 to $186.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. Needham & Company LLC reissued a “buy” rating and issued a $200.00 target price on shares of Paylocity in a report on Friday, February 9th. Truist Financial dropped their target price on Paylocity from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, February 9th. Jefferies Financial Group reissued a “hold” rating and issued a $180.00 target price (down from $240.00) on shares of Paylocity in a report on Friday, January 5th. Finally, Mizuho dropped their target price on Paylocity from $170.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, February 9th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Paylocity has an average rating of “Moderate Buy” and a consensus price target of $205.13.

Paylocity Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.