Schwab Charles Investment Management Inc. Buys 6,146 Shares of Paylocity Holding Corp (PCTY)

Schwab Charles Investment Management Inc. increased its stake in shares of Paylocity Holding Corp (NASDAQ:PCTY) by 5.4% during the 3rd quarter, Holdings Channel reports. The fund owned 119,675 shares of the software maker’s stock after purchasing an additional 6,146 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Paylocity were worth $5,843,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Janus Henderson Group PLC bought a new stake in shares of Paylocity in the 2nd quarter worth approximately $29,148,000. FMR LLC grew its position in shares of Paylocity by 5.2% in the 2nd quarter. FMR LLC now owns 1,963,017 shares of the software maker’s stock worth $88,689,000 after buying an additional 97,368 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Paylocity by 76.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 199,508 shares of the software maker’s stock worth $9,014,000 after buying an additional 86,262 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Paylocity by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 2,070,015 shares of the software maker’s stock worth $93,524,000 after buying an additional 75,709 shares during the last quarter. Finally, State Street Corp grew its position in shares of Paylocity by 18.4% in the 2nd quarter. State Street Corp now owns 475,077 shares of the software maker’s stock worth $21,468,000 after buying an additional 73,786 shares during the last quarter. Institutional investors and hedge funds own 59.78% of the company’s stock.

A number of equities research analysts have recently weighed in on PCTY shares. Zacks Investment Research lowered Paylocity from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Robert W. Baird lifted their price objective on Paylocity from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Friday, November 3rd. TheStreet lowered Paylocity from a “b-” rating to a “c+” rating in a research report on Tuesday, December 5th. Bank of America lifted their price objective on Paylocity from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Finally, Mizuho reiterated a “hold” rating and issued a $45.00 price objective on shares of Paylocity in a research report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. Paylocity has a consensus rating of “Buy” and a consensus target price of $52.92.

In other Paylocity news, SVP Edward W. Gaty sold 5,062 shares of Paylocity stock in a transaction on Friday, December 1st. The stock was sold at an average price of $45.82, for a total transaction of $231,940.84. Following the completion of the transaction, the senior vice president now owns 116,135 shares in the company, valued at $5,321,305.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven R. Beauchamp sold 50,000 shares of Paylocity stock in a transaction on Monday, November 13th. The shares were sold at an average price of $46.63, for a total value of $2,331,500.00. The disclosure for this sale can be found here. Insiders have sold 1,376,204 shares of company stock worth $63,542,933 over the last 90 days. 48.80% of the stock is currently owned by corporate insiders.

Shares of Paylocity Holding Corp (PCTY) opened at $47.95 on Monday. Paylocity Holding Corp has a 1 year low of $29.69 and a 1 year high of $53.96. The firm has a market capitalization of $2,518.19, a P/E ratio of 266.39, a P/E/G ratio of 6.29 and a beta of 2.11.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, November 2nd. The software maker reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.17. Paylocity had a return on equity of 7.98% and a net margin of 3.11%. The company had revenue of $81.50 million for the quarter, compared to analyst estimates of $80.88 million. During the same period in the previous year, the company posted $0.07 earnings per share. The firm’s revenue was up 25.4% on a year-over-year basis. equities analysts forecast that Paylocity Holding Corp will post 0.33 EPS for the current fiscal year.

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Paylocity Company 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 (NASDAQ:PCTY)

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