Moody National Bank Trust Division Purchases New Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Moody National Bank Trust Division purchased a new stake in shares of Paylocity Holding Co. (NASDAQ:PCTYGet Rating) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,350 shares of the software maker’s stock, valued at approximately $410,000.

Several other large investors have also recently bought and sold shares of PCTY. Parallel Advisors LLC raised its position in Paylocity by 101.7% during the first quarter. Parallel Advisors LLC now owns 121 shares of the software maker’s stock valued at $25,000 after buying an additional 61 shares during the period. Signaturefd LLC raised its position in Paylocity by 1,730.0% during the first quarter. Signaturefd LLC now owns 183 shares of the software maker’s stock valued at $38,000 after buying an additional 173 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in Paylocity during the first quarter valued at $41,000. Covestor Ltd acquired a new position in Paylocity during the fourth quarter valued at $42,000. Finally, Trustcore Financial Services LLC acquired a new position in Paylocity during the first quarter valued at $52,000. 72.35% of the stock is owned by institutional investors and hedge funds.

Paylocity Stock Performance

PCTY opened at $248.80 on Monday. The stock has a 50-day moving average of $230.83 and a 200-day moving average of $202.31. Paylocity Holding Co. has a 52-week low of $152.01 and a 52-week high of $314.49. The company has a market cap of $13.72 billion, a PE ratio of 154.54 and a beta of 1.20.

Paylocity (NASDAQ:PCTYGet Rating) last announced its earnings results on Thursday, August 4th. The software maker reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. Paylocity had a return on equity of 17.29% and a net margin of 10.65%. The firm had revenue of $228.95 million during the quarter, compared to the consensus estimate of $217.96 million. During the same quarter in the prior year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up 36.7% compared to the same quarter last year. On average, research analysts predict that Paylocity Holding Co. will post 1.91 earnings per share for the current year.

Insider Activity at Paylocity

In related news, CFO Ryan Glenn sold 1,500 shares of the stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $200.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now owns 16,910 shares in the company, valued at approximately $3,382,000. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Paylocity news, CFO Ryan Glenn sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $200.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 16,910 shares in the company, valued at approximately $3,382,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Nicholas Rost sold 185 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $268.00, for a total value of $49,580.00. Following the completion of the sale, the chief accounting officer now owns 4,877 shares of the company’s stock, valued at approximately $1,307,036. The disclosure for this sale can be found here. Insiders sold a total of 209,223 shares of company stock worth $48,456,773 in the last 90 days. 28.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on PCTY shares. DA Davidson upped their price target on Paylocity to $270.00 in a research report on Tuesday, August 9th. Jefferies Financial Group dropped their target price on Paylocity from $255.00 to $200.00 in a research report on Monday, May 23rd. Cowen upped their target price on Paylocity from $240.00 to $265.00 in a research report on Friday, August 5th. Piper Sandler upped their target price on Paylocity from $195.00 to $269.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Finally, Citigroup initiated coverage on Paylocity in a research report on Thursday, September 1st. They issued a “neutral” rating and a $294.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Paylocity currently has an average rating of “Moderate Buy” and an average target price of $271.19.

Paylocity Company Profile

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Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.

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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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