Fmr LLC Boosts Stake in Paylocity Holding Corporation (PCTY)

Fmr LLC lifted its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 5.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,963,017 shares of the software maker’s stock after acquiring an additional 97,368 shares during the quarter. Fmr LLC owned approximately 3.81% of Paylocity Holding Corporation worth $88,689,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of PCTY. State of Wisconsin Investment Board acquired a new position in Paylocity Holding Corporation during the second quarter worth $3,660,000. Chicago Equity Partners LLC acquired a new position in Paylocity Holding Corporation during the second quarter worth $1,129,000. Massachusetts Financial Services Co. MA increased its position in Paylocity Holding Corporation by 20.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 490,959 shares of the software maker’s stock worth $18,966,000 after buying an additional 83,478 shares during the last quarter. Bank of America Corp DE increased its position in Paylocity Holding Corporation by 13.4% during the first quarter. Bank of America Corp DE now owns 131,015 shares of the software maker’s stock worth $5,062,000 after buying an additional 15,504 shares during the last quarter. Finally, Menta Capital LLC acquired a new position in Paylocity Holding Corporation during the second quarter worth $1,270,000. 60.87% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Paylocity Holding Corporation (NASDAQ PCTY) opened at 49.98 on Thursday. Paylocity Holding Corporation has a 12-month low of $29.69 and a 12-month high of $50.72. The firm’s 50-day moving average is $47.91 and its 200-day moving average is $45.06. The company has a market capitalization of $2.59 billion, a PE ratio of 416.50 and a beta of 2.23.

Paylocity Holding Corporation (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, August 10th. The software maker reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. The company had revenue of $76.10 million for the quarter, compared to analyst estimates of $73.79 million. Paylocity Holding Corporation had a net margin of 2.24% and a return on equity of 6.13%. Paylocity Holding Corporation’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) EPS. On average, equities research analysts anticipate that Paylocity Holding Corporation will post $0.79 EPS for the current fiscal year.

Several equities analysts have commented on PCTY shares. Zacks Investment Research raised shares of Paylocity Holding Corporation from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Tuesday, July 18th. ValuEngine raised shares of Paylocity Holding Corporation from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. JMP Securities reissued an “outperform” rating and set a $54.00 target price on shares of Paylocity Holding Corporation in a research report on Tuesday, July 18th. SunTrust Banks, Inc. started coverage on shares of Paylocity Holding Corporation in a research report on Monday, June 26th. They set a “hold” rating and a $45.00 target price on the stock. Finally, Northland Securities reissued a “buy” rating and set a $55.00 target price on shares of Paylocity Holding Corporation in a research report on Sunday, September 10th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Paylocity Holding Corporation presently has a consensus rating of “Hold” and a consensus target price of $51.46.

In other news, VP Michael R. Haske sold 88,600 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $45.21, for a total transaction of $4,005,606.00. Following the transaction, the vice president now directly owns 1,189,606 shares in the company, valued at approximately $53,782,087.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Edward W. Gaty sold 5,185 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $48.92, for a total transaction of $253,650.20. Following the transaction, the senior vice president now owns 116,135 shares in the company, valued at $5,681,324.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,563,715 shares of company stock worth $70,723,858 over the last 90 days. 53.10% of the stock is owned by company insiders.

Paylocity Holding Corporation Profile

Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Company’s services are provided in a software-as-a-service delivery model utilizing its cloud-based platform. The cloud-based platform provides a suite of applications using a multi-tenant architecture.

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Institutional Ownership by Quarter for Paylocity Holding Corporation (NASDAQ:PCTY)

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