Paylocity Holding Corporation (NASDAQ:PCTY) Stake Boosted by Cerity Partners LLC

Cerity Partners LLC increased its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 11.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,492 shares of the software maker’s stock after purchasing an additional 1,765 shares during the period. Cerity Partners LLC’s holdings in Paylocity were worth $3,277,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PCTY. USA Financial Formulas acquired a new stake in Paylocity in the first quarter worth $29,000. Johnson Financial Group Inc. bought a new position in shares of Paylocity during the fourth quarter worth about $72,000. Huntington National Bank increased its holdings in shares of Paylocity by 37.3% in the 4th quarter. Huntington National Bank now owns 431 shares of the software maker’s stock worth $86,000 after acquiring an additional 117 shares during the period. UMB Bank n.a. increased its holdings in shares of Paylocity by 89.1% in the 1st quarter. UMB Bank n.a. now owns 467 shares of the software maker’s stock worth $87,000 after acquiring an additional 220 shares during the period. Finally, GAMMA Investing LLC lifted its position in Paylocity by 41.9% in the 1st quarter. GAMMA Investing LLC now owns 545 shares of the software maker’s stock valued at $102,000 after purchasing an additional 161 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PCTY shares. BMO Capital Markets raised their price target on shares of Paylocity from $210.00 to $226.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Stifel Nicolaus lowered their target price on Paylocity from $250.00 to $235.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $270.00 target price on shares of Paylocity in a research note on Tuesday, April 29th. Barclays increased their price target on Paylocity from $204.00 to $209.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. Finally, Scotiabank started coverage on shares of Paylocity in a research note on Wednesday, April 16th. They set a “sector perform” rating and a $190.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $224.75.

Paylocity Stock Down 0.8%

PCTY stock opened at $186.38 on Friday. The firm has a market cap of $10.29 billion, a PE ratio of 46.48, a P/E/G ratio of 3.69 and a beta of 0.50. Paylocity Holding Corporation has a 12 month low of $138.74 and a 12 month high of $223.80. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a 50 day simple moving average of $187.12 and a 200 day simple moving average of $192.48.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.34. The company had revenue of $454.55 million during the quarter, compared to the consensus estimate of $441.77 million. Paylocity had a return on equity of 22.90% and a net margin of 14.65%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.21 EPS. Equities research analysts forecast that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Paylocity

In other Paylocity news, SVP Andrew Cappotelli sold 1,717 shares of the business’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $176.74, for a total transaction of $303,462.58. Following the sale, the senior vice president owned 11,953 shares in the company, valued at approximately $2,112,573.22. The trade was a 12.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.91% of the stock is owned by company insiders.

Paylocity 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.