Inceptionr LLC Makes New Investment in Paylocity Holding Co. (NASDAQ:PCTY)

Inceptionr LLC bought a new position in Paylocity Holding Co. (NASDAQ:PCTY) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 1,451 shares of the software maker’s stock, valued at approximately $289,000.

Several other institutional investors have also made changes to their positions in PCTY. SBI Securities Co. Ltd. acquired a new position in Paylocity in the 4th quarter worth approximately $29,000. Prospera Private Wealth LLC acquired a new stake in Paylocity during the 3rd quarter valued at $39,000. UMB Bank n.a. lifted its holdings in shares of Paylocity by 41.1% in the fourth 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. Quarry LP grew its holdings in shares of Paylocity by 149.2% during the third quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after buying an additional 185 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in Paylocity by 29.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock valued at $55,000 after buying an additional 63 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Paylocity

In related news, Director Steven I. Sarowitz sold 10,621 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $200.86, for a total transaction of $2,133,334.06. Following the completion of the transaction, the director now owns 8,365,533 shares of the company’s stock, valued at approximately $1,680,300,958.38. The trade was a 0.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 42,876 shares of company stock worth $8,671,491 over the last ninety days. Company insiders own 21.91% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Stifel Nicolaus raised their price objective on Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Barclays boosted their price objective on shares of Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Jefferies Financial Group increased their target price on shares of Paylocity from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. StockNews.com cut shares of Paylocity from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, KeyCorp increased their price objective on Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $233.25.

Paylocity Stock Up 2.2 %

Shares of PCTY stock opened at $195.11 on Monday. The company has a market capitalization of $10.90 billion, a price-to-earnings ratio of 50.03, a PEG ratio of 4.49 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. The stock’s 50 day simple moving average is $203.18 and its 200 day simple moving average is $189.46. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data 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 22.45% and a net margin of 14.76%. As a group, research analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current year.

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.