SG Americas Securities LLC Buys New Stake in Paylocity Holding Corporation $PCTY

SG Americas Securities LLC purchased a new stake in Paylocity Holding Corporation (NASDAQ:PCTY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,701 shares of the software maker’s stock, valued at approximately $2,852,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Paylocity by 5.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,388 shares of the software maker’s stock valued at $25,551,000 after acquiring an additional 7,594 shares in the last quarter. Focus Partners Wealth grew its stake in shares of Paylocity by 24.5% during the 1st quarter. Focus Partners Wealth now owns 1,365 shares of the software maker’s stock worth $256,000 after purchasing an additional 269 shares during the period. Choreo LLC lifted its stake in shares of Paylocity by 7.8% in the 2nd quarter. Choreo LLC now owns 1,725 shares of the software maker’s stock valued at $313,000 after purchasing an additional 125 shares during the period. Norges Bank acquired a new stake in Paylocity during the second quarter valued at $34,042,000. Finally, New York State Common Retirement Fund increased its holdings in Paylocity by 17.5% in the second quarter. New York State Common Retirement Fund now owns 37,008 shares of the software maker’s stock valued at $6,705,000 after buying an additional 5,518 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Stock Performance

NASDAQ PCTY opened at $106.14 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s 50 day simple moving average is $114.33 and its 200-day simple moving average is $137.73. The company has a market cap of $5.72 billion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 3.07 and a beta of 0.57. Paylocity Holding Corporation has a 1-year low of $100.50 and a 1-year high of $201.97.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, February 5th. The software maker reported $1.85 EPS for the quarter, beating the consensus estimate of $1.57 by $0.28. Paylocity had a return on equity of 23.44% and a net margin of 14.19%.The firm had revenue of $416.13 million during the quarter, compared to the consensus estimate of $408.37 million. During the same period in the prior year, the company earned $1.52 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Paylocity Holding Corporation will post 4.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on PCTY. Weiss Ratings lowered shares of Paylocity from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 27th. KeyCorp dropped their price objective on Paylocity from $225.00 to $190.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Stephens set a $160.00 target price on Paylocity in a research note on Friday, January 16th. Mizuho dropped their price target on shares of Paylocity from $180.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, February 6th. Finally, Wall Street Zen lowered shares of Paylocity from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Fifteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $180.05.

About Paylocity

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.