Hillsdale Investment Management Inc. Makes New Investment in Paylocity Holding Corporation $PCTY

Hillsdale Investment Management Inc. bought a new stake in Paylocity Holding Corporation (NASDAQ:PCTY) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,200 shares of the software maker’s stock, valued at approximately $2,580,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Syon Capital LLC boosted its holdings in Paylocity by 81.3% in the 3rd quarter. Syon Capital LLC now owns 3,121 shares of the software maker’s stock valued at $497,000 after purchasing an additional 1,400 shares during the period. Rothschild Investment LLC raised its position in shares of Paylocity by 486.3% in the third quarter. Rothschild Investment LLC now owns 1,759 shares of the software maker’s stock valued at $280,000 after buying an additional 1,459 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in shares of Paylocity by 3.5% in the third quarter. Northwestern Mutual Investment Management Company LLC now owns 9,959 shares of the software maker’s stock valued at $1,586,000 after buying an additional 340 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Paylocity by 22.1% in the third quarter. JPMorgan Chase & Co. now owns 555,393 shares of the software maker’s stock valued at $88,459,000 after buying an additional 100,400 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Paylocity by 2.5% during the third quarter. PNC Financial Services Group Inc. now owns 3,313 shares of the software maker’s stock worth $528,000 after buying an additional 81 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Trading Down 2.4%

PCTY opened at $105.66 on Monday. The company has a market cap of $5.69 billion, a P/E ratio of 24.86, a PEG ratio of 3.04 and a beta of 0.54. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $137.53 and its 200-day moving average is $151.03. Paylocity Holding Corporation has a 1-year low of $101.39 and a 1-year high of $210.35.

Paylocity (NASDAQ:PCTY) last issued 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. The business had revenue of $416.13 million during the quarter, compared to the consensus estimate of $408.37 million. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.52 EPS. Equities research analysts predict that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PCTY. Stifel Nicolaus cut their target price on Paylocity from $188.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Barclays set a $146.00 price objective on shares of Paylocity in a research report on Friday, February 6th. Guggenheim raised shares of 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. TD Cowen reaffirmed a “buy” rating on shares of Paylocity in a report on Friday, February 6th. Finally, Mizuho decreased their price objective 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. Fifteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $180.05.

Paylocity Profile

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.