225 Shares in Paylocity Holding Co. (NASDAQ:PCTY) Purchased by GAMMA Investing LLC

GAMMA Investing LLC acquired a new stake in Paylocity Holding Co. (NASDAQ:PCTY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 225 shares of the software maker’s stock, valued at approximately $36,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. RiverPark Advisors LLC acquired a new position in Paylocity during the third quarter worth $43,000. Signaturefd LLC grew its stake in shares of Paylocity by 115.5% during the 3rd quarter. Signaturefd LLC now owns 502 shares of the software maker’s stock worth $91,000 after purchasing an additional 269 shares during the period. Covestor Ltd increased its holdings in shares of Paylocity by 18.6% in the 3rd quarter. Covestor Ltd now owns 836 shares of the software maker’s stock valued at $152,000 after purchasing an additional 131 shares in the last quarter. Y.D. More Investments Ltd acquired a new stake in shares of Paylocity in the third quarter valued at about $192,000. Finally, Banque Cantonale Vaudoise purchased a new stake in Paylocity during the third quarter worth about $201,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Activity

In related news, SVP Katherine Ross sold 491 shares of Paylocity stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $168.29, for a total value of $82,630.39. Following the transaction, the senior vice president now owns 15,353 shares in the company, valued at $2,583,756.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jeffrey T. Diehl sold 20,032 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $168.55, for a total transaction of $3,376,393.60. Following the completion of the sale, the director now owns 16,391 shares of the company’s stock, valued at approximately $2,762,703.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Katherine Ross sold 491 shares of Paylocity stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $168.29, for a total transaction of $82,630.39. Following the transaction, the senior vice president now directly owns 15,353 shares in the company, valued at $2,583,756.37. The disclosure for this sale can be found here. Insiders sold 54,547 shares of company stock valued at $9,356,359 in the last ninety days. Company insiders own 22.50% of the company’s stock.

Paylocity Trading Up 12.1 %

NASDAQ PCTY opened at $167.63 on Friday. The business’s 50-day moving average price is $165.30 and its 200 day moving average price is $163.23. Paylocity Holding Co. has a twelve month low of $139.40 and a twelve month high of $230.52. The company has a market capitalization of $9.44 billion, a PE ratio of 48.73, a price-to-earnings-growth ratio of 3.63 and a beta of 0.88.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, February 8th. The software maker reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.08. Paylocity had a net margin of 14.42% and a return on equity of 23.25%. The business had revenue of $326.36 million for the quarter, compared to analyst estimates of $324.34 million. Equities analysts predict that Paylocity Holding Co. will post 3.48 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $200.00 price target on shares of Paylocity in a research report on Friday. Barclays upped their target price on Paylocity from $166.00 to $178.00 and gave the company an “equal weight” rating in a report on Friday. BTIG Research initiated coverage on Paylocity in a research note on Tuesday, February 6th. They set a “buy” rating and a $200.00 price target for the company. Mizuho dropped their price objective on shares of Paylocity from $170.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, February 9th. Finally, KeyCorp upped their target price on Paylocity from $186.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $201.88.

Paylocity Company Profile

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.