Forsta AP Fonden acquired a new stake in Paylocity Holding Co. (NASDAQ:PCTY – Get Rating) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 10,600 shares of the software maker’s stock, valued at approximately $2,059,000.
A number of other large investors have also made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Paylocity by 1.2% in the third quarter. BlackRock Inc. now owns 4,130,763 shares of the software maker’s stock worth $997,909,000 after acquiring an additional 48,698 shares in the last quarter. Vanguard Group Inc. increased its stake in Paylocity by 6.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,989,670 shares of the software maker’s stock worth $963,824,000 after purchasing an additional 244,553 shares in the last quarter. Invesco Ltd. raised its holdings in Paylocity by 20.7% during the 1st quarter. Invesco Ltd. now owns 1,382,116 shares of the software maker’s stock worth $284,399,000 after buying an additional 236,876 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Paylocity by 0.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,192,659 shares of the software maker’s stock valued at $288,122,000 after buying an additional 6,906 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Paylocity by 3.3% in the third quarter. State Street Corp now owns 1,077,759 shares of the software maker’s stock valued at $260,365,000 after buying an additional 34,848 shares during the period. Institutional investors own 72.79% of the company’s stock.
Insider Buying and Selling at Paylocity
In other Paylocity news, Director Steven I. Sarowitz sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $216.81, for a total transaction of $16,260,750.00. Following the completion of the transaction, the director now directly owns 10,497,423 shares in the company, valued at $2,275,946,280.63. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Ryan Glenn sold 1,250 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $177.46, for a total value of $221,825.00. Following the sale, the chief financial officer now directly owns 21,651 shares in the company, valued at approximately $3,842,186.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven I. Sarowitz sold 75,000 shares of Paylocity stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $216.81, for a total transaction of $16,260,750.00. Following the sale, the director now directly owns 10,497,423 shares in the company, valued at $2,275,946,280.63. The disclosure for this sale can be found here. Insiders sold 177,242 shares of company stock valued at $36,661,532 in the last quarter. Company insiders own 26.50% of the company’s stock.
Paylocity Price Performance
Paylocity (NASDAQ:PCTY – Get Rating) last announced its earnings results on Thursday, February 2nd. The software maker reported $0.34 EPS for the quarter, topping the consensus estimate of $0.24 by $0.10. The business had revenue of $273.01 million during the quarter, compared to the consensus estimate of $259.78 million. Paylocity had a net margin of 9.58% and a return on equity of 18.52%. Research analysts anticipate that Paylocity Holding Co. will post 2.08 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages recently commented on PCTY. KeyCorp raised their price objective on shares of Paylocity from $295.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. DA Davidson raised Paylocity from a “neutral” rating to a “buy” rating and set a $245.00 price objective for the company in a research report on Thursday, March 30th. They noted that the move was a valuation call. Piper Sandler increased their price objective on Paylocity from $276.00 to $297.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. JMP Securities restated a “market outperform” rating and issued a $320.00 target price on shares of Paylocity in a research note on Friday, February 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $325.00 price objective on shares of Paylocity in a report on Monday, February 13th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $272.36.
Paylocity Company Profile
Paylocity Holding Corp. engages in the development and provision of cloud-based software solutions. It offers cloud-based payroll, human capital management applications, time labor tracking, benefits administration, and talent management. The company was founded by Steve I. Sarowitz in 1997 and is headquartered in Schaumburg, IL.
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