Paylocity Holding Co. (NASDAQ:PCTY) Shares Acquired by Y.D. More Investments Ltd

Y.D. More Investments Ltd lifted its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 358.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,830 shares of the software maker’s stock after buying an additional 3,776 shares during the period. Y.D. More Investments Ltd’s holdings in Paylocity were worth $796,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in shares of Paylocity in the fourth quarter worth $36,000. RiverPark Advisors LLC bought a new stake in shares of Paylocity in the third quarter valued at about $43,000. CWM LLC raised its position in Paylocity by 18.1% in the third quarter. CWM LLC now owns 412 shares of the software maker’s stock worth $75,000 after purchasing an additional 63 shares in the last quarter. Signaturefd LLC raised its position in Paylocity by 115.5% in the third quarter. Signaturefd LLC now owns 502 shares of the software maker’s stock worth $91,000 after purchasing an additional 269 shares in the last quarter. Finally, Covestor Ltd raised its position in Paylocity by 18.6% in the third quarter. Covestor Ltd now owns 836 shares of the software maker’s stock worth $152,000 after purchasing an additional 131 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Price Performance

Shares of NASDAQ PCTY traded down $5.92 during midday trading on Wednesday, reaching $149.24. 797,883 shares of the stock were exchanged, compared to its average volume of 464,609. The business has a 50-day simple moving average of $166.35 and a two-hundred day simple moving average of $163.94. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 52.42, a P/E/G ratio of 3.42 and a beta of 0.87. Paylocity Holding Co. has a 12 month low of $139.40 and a 12 month high of $230.52.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings results on Thursday, February 8th. The software maker reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. The company had revenue of $326.36 million for the quarter, compared to analysts’ expectations of $324.34 million. Paylocity had a net margin of 12.96% and a return on equity of 21.37%. Equities research analysts expect that Paylocity Holding Co. will post 3.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on PCTY. JMP Securities reissued a “market outperform” rating and issued a $250.00 price target on shares of Paylocity in a research report on Monday, January 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 price objective on shares of Paylocity in a report on Friday, February 9th. Citigroup raised their price objective on shares of Paylocity from $180.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, January 31st. Jefferies Financial Group reaffirmed a “hold” rating and set a $180.00 price objective (down previously from $240.00) on shares of Paylocity in a report on Friday, January 5th. Finally, BTIG Research began coverage on shares of Paylocity in a report on Tuesday, February 6th. They issued a “buy” rating and a $200.00 price target for the company. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.13.

Insider Buying and Selling at Paylocity

In other news, Director Jeffrey T. Diehl sold 20,032 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $168.55, for a total transaction of $3,376,393.60. Following the transaction, the director now directly owns 16,391 shares in the company, valued at approximately $2,762,703.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Paylocity news, Director Jeffrey T. Diehl sold 20,032 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $168.55, for a total value of $3,376,393.60. Following the completion of the sale, the director now owns 16,391 shares of the company’s stock, valued at approximately $2,762,703.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven I. Sarowitz sold 24,504 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $175.47, for a total transaction of $4,299,716.88. Following the sale, the director now directly owns 9,587,872 shares of the company’s stock, valued at approximately $1,682,383,899.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,547 shares of company stock worth $9,356,359. Insiders own 22.50% of the company’s stock.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.