GAMMA Investing LLC Has $102,000 Position in Paylocity Holding Corporation (NASDAQ:PCTY)

GAMMA Investing LLC lifted its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 41.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 545 shares of the software maker’s stock after purchasing an additional 161 shares during the quarter. GAMMA Investing LLC’s holdings in Paylocity were worth $102,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Paylocity by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker’s stock worth $803,745,000 after purchasing an additional 46,183 shares in the last quarter. Invesco Ltd. boosted its position in shares of Paylocity by 31.7% during the 4th quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker’s stock worth $265,737,000 after purchasing an additional 320,319 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Paylocity by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 1,073,988 shares of the software maker’s stock worth $214,275,000 after purchasing an additional 25,182 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Paylocity by 0.8% during the 4th quarter. JPMorgan Chase & Co. now owns 863,787 shares of the software maker’s stock worth $172,300,000 after purchasing an additional 7,251 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Paylocity by 138.5% during the 4th quarter. FMR LLC now owns 650,599 shares of the software maker’s stock worth $129,775,000 after purchasing an additional 377,835 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

Insider Activity

In other news, SVP Andrew Cappotelli sold 1,717 shares of the firm’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $176.74, for a total transaction of $303,462.58. Following the completion of the sale, the senior vice president owned 11,953 shares in the company, valued at $2,112,573.22. This trade represents a 12.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.91% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus cut their price objective on shares of Paylocity from $250.00 to $235.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. KeyCorp dropped their price target on shares of Paylocity from $250.00 to $220.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $258.00 price target (up previously from $254.00) on shares of Paylocity in a research report on Friday, May 2nd. Raymond James Financial reaffirmed an “outperform” rating and issued a $235.00 price target (down previously from $265.00) on shares of Paylocity in a research report on Friday, May 2nd. Finally, Mizuho dropped their price target on shares of Paylocity from $245.00 to $220.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Paylocity has a consensus rating of “Moderate Buy” and a consensus price target of $224.75.

Paylocity Price Performance

Paylocity stock opened at $184.61 on Monday. Paylocity Holding Corporation has a 52 week low of $130.51 and a 52 week high of $223.80. The company’s 50 day moving average price is $188.55 and its two-hundred day moving average price is $193.56. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.20. The stock has a market cap of $10.20 billion, a P/E ratio of 46.04, a P/E/G ratio of 3.60 and a beta of 0.50.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.34. Paylocity had a net margin of 14.65% and a return on equity of 22.90%. The company had revenue of $454.55 million during the quarter, compared to analyst estimates of $441.77 million. During the same quarter last year, the business posted $2.21 EPS. Paylocity’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, equities analysts predict that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

Paylocity Company Profile

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.