Paylocity Holding Corp (PCTY) Position Boosted by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. increased its position in Paylocity Holding Corp (NASDAQ:PCTY) by 6.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 177,004 shares of the software maker’s stock after acquiring an additional 10,047 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Paylocity were worth $10,419,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. We Are One Seven LLC raised its holdings in Paylocity by 431.9% in the 1st quarter. We Are One Seven LLC now owns 2,404 shares of the software maker’s stock worth $123,000 after acquiring an additional 1,952 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Paylocity in the 2nd quarter worth approximately $200,000. Greenwood Capital Associates LLC purchased a new position in Paylocity in the 2nd quarter worth approximately $224,000. Koch Industries Inc. purchased a new position in Paylocity in the 1st quarter worth approximately $212,000. Finally, Amalgamated Bank purchased a new stake in Paylocity during the 2nd quarter valued at $260,000. Institutional investors own 65.40% of the company’s stock.
In other news, SVP Mark S. Kinsey sold 386 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $66.65, for a total transaction of $25,726.90. Following the completion of the sale, the senior vice president now owns 86,331 shares of the company’s stock, valued at approximately $5,753,961.15. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven I. Sarowitz sold 144,124 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $64.75, for a total transaction of $9,332,029.00. Following the sale, the director now directly owns 14,820,606 shares of the company’s stock, valued at approximately $959,634,238.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,002,124 shares of company stock valued at $65,904,551. Insiders own 48.80% of the company’s stock.
Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, August 9th. The software maker reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). Paylocity had a net margin of 10.22% and a return on equity of 12.44%. The business had revenue of $96.62 million for the quarter, compared to the consensus estimate of $93.33 million. During the same period in the previous year, the firm earned $0.09 EPS. The company’s revenue was up 27.0% on a year-over-year basis. sell-side analysts expect that Paylocity Holding Corp will post 0.75 earnings per share for the current year.
PCTY has been the subject of a number of research reports. Raymond James reiterated a “buy” rating and set a $75.00 target price on shares of Paylocity in a research note on Monday, August 13th. BidaskClub lowered shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Guggenheim initiated coverage on shares of Paylocity in a research note on Monday, August 20th. They set a “buy” rating and a $80.00 target price for the company. Craig Hallum boosted their target price on shares of Paylocity from $58.00 to $65.00 and gave the company a “hold” rating in a research note on Friday, August 10th. Finally, Zacks Investment Research upgraded shares of Paylocity from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Tuesday, August 14th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Paylocity currently has an average rating of “Buy” and an average target price of $65.62.
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.
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