Connor Clark & Lunn Investment Management Ltd. Grows Position in Paylocity Holding Co. (NASDAQ:PCTY)

Connor Clark & Lunn Investment Management Ltd. raised its position in Paylocity Holding Co. (NASDAQ:PCTY) by 162.5% in the fourth quarter, Holdings Channel reports. The fund owned 34,623 shares of the software maker’s stock after buying an additional 21,432 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Paylocity were worth $6,906,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Paylocity during the 4th quarter worth $29,000. Prospera Private Wealth LLC acquired a new stake in Paylocity in the third quarter valued at $39,000. UMB Bank n.a. lifted its holdings in Paylocity by 41.1% during 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. EverSource Wealth Advisors LLC boosted its position in shares of Paylocity by 489.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock worth $54,000 after acquiring an additional 225 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in shares of Paylocity by 29.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock worth $55,000 after acquiring an additional 63 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $186.24 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market cap of $10.41 billion, a PE ratio of 47.75, a P/E/G ratio of 4.49 and a beta of 0.94. The stock has a fifty day moving average price of $201.95 and a 200 day moving average price of $190.22. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80.

Paylocity (NASDAQ:PCTY) last issued its 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 net margin of 14.76% and a return on equity of 22.45%. Sell-side analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current year.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 11,473 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $203.37, for a total transaction of $2,333,264.01. Following the sale, the director now directly owns 8,344,545 shares in the company, valued at approximately $1,697,030,116.65. The trade was a 0.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 18,566 shares of company stock worth $3,755,321. Company insiders own 21.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PCTY shares. Raymond James reaffirmed an “outperform” rating and issued a $265.00 price target (up from $215.00) on shares of Paylocity in a report on Friday, February 7th. Stifel Nicolaus increased their target price on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, February 7th. JMP Securities boosted their price target on shares of Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a research report on Friday, February 7th. UBS Group raised their price objective on Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Finally, Citigroup raised Paylocity from a “neutral” rating to a “buy” rating and upped their target price for the company from $214.00 to $231.00 in a research report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $233.25.

Paylocity 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.