Arrowstreet Capital Limited Partnership Increases Stock Holdings in Paylocity Holding Corporation $PCTY

Arrowstreet Capital Limited Partnership lifted its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 118.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162,920 shares of the software maker’s stock after acquiring an additional 88,319 shares during the period. Arrowstreet Capital Limited Partnership owned 0.30% of Paylocity worth $29,519,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PCTY. SBI Securities Co. Ltd. lifted its stake in shares of Paylocity by 47.4% during the second quarter. SBI Securities Co. Ltd. now owns 252 shares of the software maker’s stock worth $46,000 after purchasing an additional 81 shares in the last quarter. Employees Retirement System of Texas bought a new stake in shares of Paylocity in the 2nd quarter valued at approximately $51,000. Bayforest Capital Ltd lifted its position in shares of Paylocity by 69.1% in the 1st quarter. Bayforest Capital Ltd now owns 296 shares of the software maker’s stock worth $55,000 after buying an additional 121 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Paylocity during the 1st quarter worth approximately $61,000. Finally, IFP Advisors Inc boosted its holdings in shares of Paylocity by 248.5% during the second quarter. IFP Advisors Inc now owns 338 shares of the software maker’s stock valued at $61,000 after acquiring an additional 241 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PCTY. Weiss Ratings restated a “hold (c-)” rating on shares of Paylocity in a research note on Monday, December 1st. Cowen restated a “buy” rating on shares of Paylocity in a research report on Monday, October 6th. Guggenheim upgraded Paylocity from a “neutral” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Monday, November 10th. Cantor Fitzgerald set a $190.00 target price on Paylocity in a research note on Wednesday, November 5th. Finally, Citizens Jmp lowered their target price on shares of Paylocity from $270.00 to $245.00 and set a “market outperform” rating on the stock in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $207.83.

Paylocity Trading Up 0.2%

Shares of Paylocity stock opened at $146.52 on Friday. The company’s fifty day simple moving average is $148.54 and its 200-day simple moving average is $169.21. The company has a market cap of $7.97 billion, a price-to-earnings ratio of 36.72, a PEG ratio of 4.34 and a beta of 0.57. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a 1 year low of $135.46 and a 1 year high of $223.80.

Paylocity (NASDAQ:PCTY) last released its earnings results on Tuesday, November 4th. The software maker reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.23. Paylocity had a net margin of 13.75% and a return on equity of 22.07%. The business had revenue of $408.17 million during the quarter, compared to analysts’ expectations of $399.53 million. During the same quarter last year, the company earned $1.66 earnings per share. The firm’s revenue was up 12.5% on a year-over-year basis. As a group, sell-side analysts expect that Paylocity Holding Corporation will post 4.36 EPS for the current year.

Insider Buying and Selling at Paylocity

In other news, CFO Ryan Glenn sold 1,737 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $143.65, for a total transaction of $249,520.05. Following the sale, the chief financial officer directly owned 77,229 shares in the company, valued at approximately $11,093,945.85. The trade was a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 19.40% of the company’s stock.

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.