Cwm LLC Acquires 1,288 Shares of Paylocity Holding Corporation (NASDAQ:PCTY)

Cwm LLC increased its position in Paylocity Holding Corporation (NASDAQ:PCTY) by 208.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,906 shares of the software maker’s stock after acquiring an additional 1,288 shares during the quarter. Cwm LLC’s holdings in Paylocity were worth $357,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. USA Financial Formulas purchased a new position in shares of Paylocity during the first quarter worth about $29,000. Hughes Financial Services LLC purchased a new stake in Paylocity in the first quarter worth approximately $48,000. Johnson Financial Group Inc. purchased a new stake in Paylocity in the fourth quarter worth approximately $72,000. Huntington National Bank boosted its stake in Paylocity by 37.3% in the fourth quarter. Huntington National Bank now owns 431 shares of the software maker’s stock worth $86,000 after buying an additional 117 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in Paylocity by 89.1% in the first quarter. UMB Bank n.a. now owns 467 shares of the software maker’s stock worth $87,000 after buying an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Activity at Paylocity

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

Paylocity Stock Down 0.1%

Paylocity stock opened at $187.86 on Friday. Paylocity Holding Corporation has a fifty-two week low of $142.00 and a fifty-two week high of $223.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $10.38 billion, a PE ratio of 46.85, a PEG ratio of 3.70 and a beta of 0.50. The business’s 50-day simple moving average is $185.72 and its two-hundred day simple moving average is $192.03.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.34. The firm had revenue of $454.55 million for 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 revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.21 earnings per share. Equities analysts anticipate that Paylocity Holding Corporation will post 4.36 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on PCTY shares. UBS Group boosted their price objective on Paylocity from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Citigroup decreased their target price on Paylocity from $225.00 to $218.00 and set a “buy” rating for the company in a report on Monday, July 21st. Needham & Company LLC reiterated a “buy” rating and issued a $250.00 price objective on shares of Paylocity in a report on Friday, July 18th. Stifel Nicolaus decreased their price objective on Paylocity from $250.00 to $235.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Finally, KeyCorp cut their target price on Paylocity from $250.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $221.76.

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.