Moody National Bank Trust Division purchased a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY – Get Rating) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,350 shares of the software maker's stock, valued at approximately $410,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. lifted its position in Paylocity by 0.9% during the 1st quarter. BlackRock Inc. now owns 4,089,361 shares of the software maker's stock worth $841,466,000 after acquiring an additional 35,661 shares in the last quarter. Invesco Ltd. lifted its position in Paylocity by 20.7% during the 1st quarter. Invesco Ltd. now owns 1,382,116 shares of the software maker's stock worth $284,399,000 after acquiring an additional 236,876 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Paylocity by 0.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,165,374 shares of the software maker's stock worth $239,799,000 after acquiring an additional 7,627 shares in the last quarter. State Street Corp lifted its position in Paylocity by 4.4% during the 1st quarter. State Street Corp now owns 1,041,583 shares of the software maker's stock worth $214,327,000 after acquiring an additional 44,059 shares in the last quarter. Finally, Riverbridge Partners LLC lifted its position in Paylocity by 5.8% during the 1st quarter. Riverbridge Partners LLC now owns 794,297 shares of the software maker's stock worth $163,442,000 after acquiring an additional 43,297 shares in the last quarter. 72.35% of the stock is owned by institutional investors and hedge funds.
Get Paylocity alerts:Paylocity Price Performance
Shares of PCTY opened at $248.80 on Monday. The company has a market cap of $13.72 billion, a P/E ratio of 154.54 and a beta of 1.20. The stock has a fifty day moving average price of $230.83 and a 200 day moving average price of $202.31. Paylocity Holding Co. has a 12 month low of $152.01 and a 12 month high of $314.49.
Paylocity (NASDAQ:PCTY – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The software maker reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.11. The firm had revenue of $228.95 million during the quarter, compared to the consensus estimate of $217.96 million. Paylocity had a return on equity of 17.29% and a net margin of 10.65%. The firm's revenue was up 36.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.24 EPS. As a group, research analysts anticipate that Paylocity Holding Co. will post 1.91 earnings per share for the current year.Analyst Ratings Changes
Several equities research analysts have issued reports on PCTY shares. Cowen lifted their price objective on Paylocity from $240.00 to $265.00 in a report on Friday, August 5th. Jefferies Financial Group dropped their price objective on Paylocity from $255.00 to $200.00 in a report on Monday, May 23rd. KeyCorp lifted their price objective on Paylocity from $285.00 to $310.00 and gave the stock an "overweight" rating in a report on Monday, August 15th. Cowen lifted their price objective on Paylocity from $240.00 to $265.00 in a report on Friday, August 5th. Finally, Raymond James lifted their price objective on Paylocity from $245.00 to $265.00 in a report on Friday, August 5th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $271.19.
Insider Buying and Selling
In other Paylocity news, CAO Nicholas Rost sold 185 shares of the business's stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $268.00, for a total transaction of $49,580.00. Following the completion of the transaction, the chief accounting officer now owns 4,877 shares in the company, valued at approximately $1,307,036. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Paylocity news, CAO Nicholas Rost sold 185 shares of the business's stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $268.00, for a total transaction of $49,580.00. Following the completion of the transaction, the chief accounting officer now owns 4,877 shares in the company, valued at approximately $1,307,036. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mark S. Kinsey sold 652 shares of the business's stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $268.00, for a total value of $174,736.00. Following the transaction, the senior vice president now owns 38,843 shares of the company's stock, valued at approximately $10,409,924. The disclosure for this sale can be found here. Insiders sold a total of 209,223 shares of company stock worth $48,456,773 in the last three months. 28.80% of the stock is owned by insiders.
Paylocity Company Profile
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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.
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