2,005 Shares in Paylocity Holding Co. (NASDAQ:PCTY) Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC purchased a new stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,005 shares of the software maker’s stock, valued at approximately $400,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its position in shares of Paylocity by 1,650.0% during the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock valued at $29,000 after purchasing an additional 165 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in Paylocity in the third quarter worth approximately $39,000. Signaturefd LLC grew its position in Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after acquiring an additional 167 shares during the last quarter. Quarry LP raised its stake in shares of Paylocity by 149.2% during the third quarter. Quarry LP now owns 309 shares of the software maker’s stock worth $51,000 after acquiring an additional 185 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Paylocity by 43.3% in the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock worth $77,000 after acquiring an additional 116 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Paylocity Trading Up 2.4 %

Shares of PCTY opened at $214.10 on Thursday. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80. The firm has a market capitalization of $11.94 billion, a price-to-earnings ratio of 54.90, a PEG ratio of 5.19 and a beta of 0.95. The firm’s 50-day moving average price is $201.36 and its 200-day moving average price is $182.58. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.93% and a net margin of 14.76%. Sell-side analysts anticipate that Paylocity Holding Co. will post 4.46 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PCTY. Needham & Company LLC lifted their target price on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Raymond James reiterated an “outperform” rating and issued a $265.00 price objective (up previously from $215.00) on shares of Paylocity in a report on Friday, February 7th. JMP Securities boosted their target price on Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. Barclays raised their price target on Paylocity from $214.00 to $231.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Finally, BMO Capital Markets boosted their price objective on Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $233.25.

Insiders Place Their Bets

In related news, Director Steven I. Sarowitz sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was 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 of the company’s stock, valued at $1,667,635,928.58. This trade represents a 0.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew Cappotelli sold 247 shares of Paylocity stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $193.29, for a total value of $47,742.63. Following the transaction, the senior vice president now owns 14,634 shares of the company’s stock, valued at $2,828,605.86. The trade was a 1.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,380 shares of company stock worth $25,830,669. 21.91% of the stock is owned by corporate insiders.

Paylocity Company 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.