Prudential PLC bought a new stake in Paylocity Holding Co. (NASDAQ:PCTY – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,319 shares of the software maker’s stock, valued at approximately $450,000.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Paylocity by 1.2% during the 3rd quarter. BlackRock Inc. now owns 4,130,763 shares of the software maker’s stock valued at $997,909,000 after acquiring an additional 48,698 shares during the period. Vanguard Group Inc. lifted its position in shares of Paylocity by 6.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,989,670 shares of the software maker’s stock valued at $963,824,000 after acquiring an additional 244,553 shares during the period. Invesco Ltd. lifted its position in shares of Paylocity by 20.7% during the 1st quarter. Invesco Ltd. now owns 1,382,116 shares of the software maker’s stock valued at $284,399,000 after acquiring an additional 236,876 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Paylocity by 0.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,192,659 shares of the software maker’s stock worth $288,122,000 after buying an additional 6,906 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Paylocity by 3.3% during the 3rd quarter. State Street Corp now owns 1,077,759 shares of the software maker’s stock worth $260,365,000 after buying an additional 34,848 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.
Insider Activity
In related news, Director Steven I. Sarowitz sold 59,053 shares of the stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $203.83, for a total transaction of $12,036,772.99. Following the transaction, the director now owns 10,438,370 shares of the company’s stock, valued at approximately $2,127,652,957.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Steven I. Sarowitz sold 59,053 shares of the firm’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $203.83, for a total value of $12,036,772.99. Following the completion of the sale, the director now directly owns 10,438,370 shares of the company’s stock, valued at approximately $2,127,652,957.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Nicholas Rost sold 284 shares of Paylocity stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $172.13, for a total transaction of $48,884.92. Following the transaction, the chief accounting officer now directly owns 4,017 shares of the company’s stock, valued at $691,446.21. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,295 shares of company stock worth $26,828,122. 26.50% of the stock is currently owned by corporate insiders.
Paylocity Stock Performance
Paylocity (NASDAQ:PCTY – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The software maker reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.18. The firm had revenue of $339.86 million for the quarter, compared to analysts’ expectations of $332.79 million. Paylocity had a net margin of 10.84% and a return on equity of 20.23%. On average, analysts predict that Paylocity Holding Co. will post 2.37 earnings per share for the current year.
Analyst Ratings Changes
A number of research firms have recently commented on PCTY. Piper Sandler lowered their price target on Paylocity from $297.00 to $245.00 in a report on Friday, May 5th. JMP Securities restated a “market outperform” rating and set a $320.00 price target on shares of Paylocity in a report on Friday, February 3rd. Mizuho cut their price target on Paylocity from $230.00 to $200.00 in a report on Friday, May 5th. KeyCorp boosted their price objective on Paylocity from $295.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Finally, StockNews.com started coverage on shares of Paylocity in a research report on Thursday. They issued a “hold” rating for the company. 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $263.33.
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.
Read More
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