Paylocity Holding Corporation (PCTY) Holdings Raised by Sei Investments Co.
Sei Investments Co. boosted its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 8.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 153,414 shares of the software maker’s stock after purchasing an additional 11,514 shares during the quarter. Sei Investments Co. owned about 0.29% of Paylocity Holding Corporation worth $7,490,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Bank of Montreal Can boosted its position in Paylocity Holding Corporation by 1.2% during the second quarter. Bank of Montreal Can now owns 3,419 shares of the software maker’s stock worth $154,000 after purchasing an additional 42 shares during the period. Citigroup Inc. boosted its position in Paylocity Holding Corporation by 3.8% during the second quarter. Citigroup Inc. now owns 11,366 shares of the software maker’s stock worth $514,000 after purchasing an additional 413 shares during the period. Ameritas Investment Partners Inc. boosted its position in Paylocity Holding Corporation by 22.6% during the second quarter. Ameritas Investment Partners Inc. now owns 2,282 shares of the software maker’s stock worth $103,000 after purchasing an additional 421 shares during the period. Bayesian Capital Management LP boosted its position in Paylocity Holding Corporation by 10.8% during the second quarter. Bayesian Capital Management LP now owns 6,144 shares of the software maker’s stock worth $278,000 after purchasing an additional 600 shares during the period. Finally, Teachers Advisors LLC boosted its position in Paylocity Holding Corporation by 2.1% during the first quarter. Teachers Advisors LLC now owns 36,565 shares of the software maker’s stock worth $1,413,000 after purchasing an additional 753 shares during the period. 59.88% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Steven I. Sarowitz sold 1,296,142 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $46.14, for a total value of $59,803,991.88. Following the completion of the transaction, the director now directly owns 15,343,130 shares in the company, valued at $707,932,018.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven R. Beauchamp sold 50,000 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $46.63, for a total value of $2,331,500.00. The disclosure for this sale can be found here. Insiders sold 1,429,857 shares of company stock valued at $66,253,404 over the last 90 days. 48.80% of the stock is currently owned by corporate insiders.
Paylocity Holding Corporation (PCTY) opened at $47.85 on Thursday. The company has a market capitalization of $2,509.78, a price-to-earnings ratio of 217.23, a P/E/G ratio of 6.27 and a beta of 2.24. Paylocity Holding Corporation has a 12 month low of $29.69 and a 12 month high of $53.96.
Paylocity Holding Corporation (NASDAQ:PCTY) last issued its earnings results on Thursday, November 2nd. The software maker reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.17. The business had revenue of $81.50 million during the quarter, compared to analyst estimates of $80.88 million. Paylocity Holding Corporation had a return on equity of 7.98% and a net margin of 3.11%. Paylocity Holding Corporation’s revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.07 earnings per share. equities research analysts forecast that Paylocity Holding Corporation will post 0.32 EPS for the current fiscal year.
A number of equities research analysts have issued reports on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $55.00 target price (up previously from $50.00) on shares of Paylocity Holding Corporation in a research report on Friday, August 11th. Mizuho reaffirmed a “hold” rating and set a $45.00 target price on shares of Paylocity Holding Corporation in a research report on Thursday, August 10th. SunTrust Banks, Inc. reissued a “hold” rating and issued a $47.00 price objective on shares of Paylocity Holding Corporation in a research report on Friday, November 3rd. TheStreet raised Paylocity Holding Corporation from a “c” rating to a “b-” rating in a research report on Friday, November 3rd. Finally, Bank of America Corporation increased their price objective on Paylocity Holding Corporation from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, October 24th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $52.92.
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About Paylocity Holding Corporation
Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Company’s services are provided in a software-as-a-service delivery model utilizing its cloud-based platform. The cloud-based platform provides a suite of applications using a multi-tenant architecture.
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