Paylocity Holding Corp (PCTY) Shares Bought by Fmr LLC

Fmr LLC increased its stake in Paylocity Holding Corp (NASDAQ:PCTY) by 19.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 846,032 shares of the software maker’s stock after acquiring an additional 138,231 shares during the period. Fmr LLC’s holdings in Paylocity were worth $50,940,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FTB Advisors Inc. raised its stake in shares of Paylocity by 25.1% in the fourth quarter. FTB Advisors Inc. now owns 642 shares of the software maker’s stock valued at $38,000 after acquiring an additional 129 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Paylocity by 34.8% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 774 shares of the software maker’s stock valued at $47,000 after acquiring an additional 200 shares in the last quarter. OLD National Bancorp IN raised its stake in shares of Paylocity by 7.0% in the fourth quarter. OLD National Bancorp IN now owns 4,048 shares of the software maker’s stock valued at $244,000 after acquiring an additional 266 shares in the last quarter. Renaissance Group LLC raised its stake in shares of Paylocity by 4.3% in the fourth quarter. Renaissance Group LLC now owns 8,360 shares of the software maker’s stock valued at $503,000 after acquiring an additional 342 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Paylocity by 23.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,141 shares of the software maker’s stock valued at $129,000 after buying an additional 407 shares in the last quarter. Institutional investors and hedge funds own 64.95% of the company’s stock.

NASDAQ PCTY opened at $90.27 on Wednesday. Paylocity Holding Corp has a 52-week low of $51.18 and a 52-week high of $93.62. The stock has a market cap of $4.73 billion, a P/E ratio of 291.19, a P/E/G ratio of 8.10 and a beta of 2.09.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Wednesday, February 6th. The software maker reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.11). Paylocity had a return on equity of 13.43% and a net margin of 12.81%. The company had revenue of $107.20 million for the quarter, compared to analysts’ expectations of $104.68 million. During the same period in the prior year, the business earned $0.16 EPS. The business’s quarterly revenue was up 24.7% compared to the same quarter last year. As a group, analysts expect that Paylocity Holding Corp will post 0.54 EPS for the current year.

In related news, CEO Steven R. Beauchamp sold 40,000 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $83.69, for a total transaction of $3,347,600.00. Following the transaction, the chief executive officer now owns 1,885,948 shares of the company’s stock, valued at $157,834,988.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael R. Haske sold 50,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $86.34, for a total value of $4,317,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 882,481 shares of company stock worth $75,511,619. Corporate insiders own 41.20% of the company’s stock.

PCTY has been the topic of a number of analyst reports. Zacks Investment Research cut Paylocity from a “hold” rating to a “sell” rating in a research note on Wednesday, December 19th. BidaskClub raised Paylocity from a “buy” rating to a “strong-buy” rating in a report on Friday, January 25th. ValuEngine raised Paylocity from a “buy” rating to a “strong-buy” rating in a report on Monday, February 4th. SunTrust Banks raised their price objective on Paylocity to $83.00 and gave the stock a “positive” rating in a report on Tuesday, February 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective (up previously from $80.00) on shares of Paylocity in a report on Thursday, February 7th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $79.93.

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Paylocity Profile

Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.

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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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