Paylocity Holding Co. (NASDAQ:PCTY) Shares Acquired by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC boosted its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 253.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 980 shares of the software maker’s stock after purchasing an additional 703 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Paylocity were worth $196,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Prospera Private Wealth LLC acquired a new stake in shares of Paylocity in the third quarter valued at about $39,000. UMB Bank n.a. boosted its holdings in Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after buying an additional 72 shares during the last quarter. Quarry LP increased its stake in Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after buying an additional 185 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Paylocity by 43.3% during 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. Finally, Tompkins Financial Corp acquired a new position in shares of Paylocity during the third quarter valued at approximately $82,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Stock Performance

NASDAQ:PCTY opened at $201.96 on Thursday. The company has a market cap of $11.29 billion, a price-to-earnings ratio of 51.78, a price-to-earnings-growth ratio of 4.49 and a beta of 0.95. 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 52 week low of $129.94 and a 52 week high of $223.80. The company has a fifty day simple moving average of $203.47 and a two-hundred day simple moving average of $188.64.

Paylocity (NASDAQ:PCTY) last issued 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 return on equity of 22.45% and a net margin of 14.76%. As a group, equities analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. KeyCorp lifted their target price on shares of Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. JMP Securities upped their price objective on shares of Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. Jefferies Financial Group raised their target price on shares of Paylocity from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Mizuho upgraded 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 report on Friday, January 31st. Finally, Raymond James reaffirmed an “outperform” rating and issued a $265.00 price target (up previously from $215.00) on shares of Paylocity in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $233.25.

Insider Buying and Selling

In other Paylocity news, Director Steven I. Sarowitz sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $200.14, for a total transaction of $520,364.00. Following the completion of the transaction, the director now owns 8,332,347 shares in the company, valued at $1,667,635,928.58. The trade was a 0.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 56,949 shares of company stock worth $11,539,988. Company insiders own 21.91% of the company’s stock.

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.