Arrowstreet Capital Limited Partnership Has $15.06 Million Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Arrowstreet Capital Limited Partnership increased its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 128.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 75,501 shares of the software maker’s stock after acquiring an additional 42,451 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.14% of Paylocity worth $15,060,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Paylocity by 17.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 10,988 shares of the software maker’s stock valued at $2,192,000 after buying an additional 1,609 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Paylocity in the 4th quarter valued at about $1,919,000. Norges Bank acquired a new position in shares of Paylocity during the 4th quarter worth about $12,131,000. JPMorgan Chase & Co. raised its holdings in shares of Paylocity by 0.8% in the 4th quarter. JPMorgan Chase & Co. now owns 863,787 shares of the software maker’s stock valued at $172,300,000 after purchasing an additional 7,251 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new position in Paylocity during the fourth quarter worth about $213,000. 94.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PCTY. UBS Group raised their price objective on Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Barclays raised their price target on Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. KeyCorp upped their price objective on shares of Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Needham & Company LLC raised their target price on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Mizuho upgraded shares of Paylocity from a “neutral” rating to an “outperform” rating and upped their price target for the company from $200.00 to $235.00 in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $233.25.

Paylocity Trading Down 4.3 %

PCTY opened at $174.88 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80. The stock has a market capitalization of $9.77 billion, a price-to-earnings ratio of 44.84, a P/E/G ratio of 4.49 and a beta of 0.76. The company has a 50-day simple moving average of $199.66 and a 200 day simple moving average of $193.20.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. Analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Insider Transactions at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the completion of the transaction, the director now owns 420,000 shares of the company’s stock, valued at approximately $81,862,200. The trade was a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.91% of the stock is owned by insiders.

About Paylocity

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.