Samson Rock Capital LLP acquired a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY – Get Rating) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 924 shares of the software maker’s stock, valued at approximately $223,000.
→ Is This The End of Capitalism? (From Porter & Company)
A number of other large investors have also recently bought and sold shares of PCTY. Castle Wealth Management LLC acquired a new stake in shares of Paylocity in the 2nd quarter valued at approximately $37,000. Allspring Global Investments Holdings LLC boosted its position in Paylocity by 9,150.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 185 shares of the software maker’s stock worth $44,000 after buying an additional 183 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Paylocity by 39.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 277 shares of the software maker’s stock worth $48,000 after buying an additional 78 shares during the period. Covestor Ltd boosted its position in Paylocity by 88.1% during the 1st quarter. Covestor Ltd now owns 331 shares of the software maker’s stock worth $68,000 after buying an additional 155 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in Paylocity by 5,025.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 410 shares of the software maker’s stock worth $71,000 after buying an additional 402 shares during the period. 72.79% of the stock is currently owned by institutional investors and hedge funds.
Paylocity Trading Up 0.6 %
NASDAQ PCTY traded up $1.29 during mid-day trading on Friday, hitting $206.28. The company’s stock had a trading volume of 29,746 shares, compared to its average volume of 383,780. The company’s 50 day simple moving average is $200.13 and its 200 day simple moving average is $219.52. Paylocity Holding Co. has a twelve month low of $152.01 and a twelve month high of $276.88. The firm has a market capitalization of $11.48 billion, a price-to-earnings ratio of 128.93 and a beta of 1.09.
Paylocity (NASDAQ:PCTY – Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The software maker reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.37. Paylocity had a net margin of 9.76% and a return on equity of 19.27%. The business had revenue of $253.28 million during the quarter, compared to the consensus estimate of $239.86 million. As a group, research analysts forecast that Paylocity Holding Co. will post 1.92 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the stock. Piper Sandler lifted their target price on shares of Paylocity from $269.00 to $276.00 and gave the stock an “overweight” rating in a research report on Friday, November 4th. StockNews.com assumed coverage on shares of Paylocity in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. KeyCorp cut their target price on shares of Paylocity from $310.00 to $295.00 and set an “overweight” rating on the stock in a research report on Friday, November 4th. DA Davidson lowered shares of Paylocity from a “buy” rating to a “neutral” rating and set a $250.00 price target for the company. in a report on Friday, October 28th. Finally, Citigroup lowered their price target on shares of Paylocity from $294.00 to $255.00 in a report on Friday, October 21st. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Paylocity has a consensus rating of “Moderate Buy” and a consensus price target of $259.00.
Paylocity Company Profile
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.
Recommended Stories
Want to see what other hedge funds are holding PCTY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paylocity Holding Co. (NASDAQ:PCTY – Get Rating).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Paylocity, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Paylocity wasn’t on the list.
While Paylocity currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
