Shaker Investments LLC OH Acquires 6,902 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Shaker Investments LLC OH grew its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 59.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 18,567 shares of the software maker’s stock after acquiring an additional 6,902 shares during the quarter. Paylocity comprises about 1.6% of Shaker Investments LLC OH’s portfolio, making the stock its 20th biggest holding. Shaker Investments LLC OH’s holdings in Paylocity were worth $3,704,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of PCTY. CIBC Asset Management Inc boosted its position in shares of Paylocity by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker’s stock worth $273,000 after acquiring an additional 58 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after purchasing an additional 72 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Paylocity by 3.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,282 shares of the software maker’s stock valued at $395,000 after purchasing an additional 82 shares during the last quarter. Covestor Ltd raised its holdings in shares of Paylocity by 6.4% during the 3rd quarter. Covestor Ltd now owns 1,373 shares of the software maker’s stock worth $227,000 after buying an additional 83 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Paylocity by 43.3% in the fourth quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock valued at $77,000 after acquiring an additional 116 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Paylocity Stock Up 2.8 %

PCTY opened at $211.61 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $223.80. The firm has a market capitalization of $11.80 billion, a P/E ratio of 54.26, a price-to-earnings-growth ratio of 5.19 and a beta of 0.95. The company has a fifty day moving average price of $201.28 and a 200-day moving average price of $181.70.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.93%. Equities research analysts expect that Paylocity Holding Co. will post 4.46 earnings per share for the current fiscal year.

Insider Transactions at Paylocity

In other news, CFO Ryan Glenn sold 2,600 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $205.40, for a total transaction of $534,040.00. Following the completion of the sale, the chief financial officer now owns 48,150 shares of the company’s stock, valued at approximately $9,890,010. This represents a 5.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven I. Sarowitz sold 15,444 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $195.43, for a total transaction of $3,018,220.92. Following the completion of the sale, the director now directly owns 9,272,906 shares in the company, valued at approximately $1,812,204,019.58. This trade represents a 0.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,380 shares of company stock valued at $25,830,669. Insiders own 21.91% of the company’s stock.

Wall Street Analysts Forecast Growth

PCTY has been the topic of a number of research analyst reports. UBS Group raised their target price on shares of Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a research report on Friday. JMP Securities boosted their price objective on Paylocity from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research report on Friday. Stifel Nicolaus lifted their price target on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday. Raymond James reiterated an “outperform” rating and issued a $265.00 price target (up previously from $215.00) on shares of Paylocity in a research report on Friday. Finally, Needham & Company LLC lifted their price objective on Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Paylocity has a consensus rating of “Moderate Buy” and an average target price of $233.25.

Paylocity Profile

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.