The Manufacturers Life Insurance Company raised its position in Paylocity Holding Corporation (NASDAQ:PCTY) by 18.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,929 shares of the software maker’s stock after buying an additional 3,242 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Paylocity Holding Corporation were worth $945,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Paylocity Holding Corporation by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 2,070,015 shares of the software maker’s stock worth $93,524,000 after buying an additional 75,709 shares during the last quarter. FMR LLC boosted its holdings in Paylocity Holding Corporation by 5.2% in the 2nd quarter. FMR LLC now owns 1,963,017 shares of the software maker’s stock worth $88,689,000 after buying an additional 97,368 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Paylocity Holding Corporation in the 2nd quarter worth about $29,148,000. Blair William & Co. IL boosted its holdings in Paylocity Holding Corporation by 70.1% in the 2nd quarter. Blair William & Co. IL now owns 545,439 shares of the software maker’s stock worth $24,643,000 after buying an additional 224,771 shares during the last quarter. Finally, State Street Corp boosted its holdings in Paylocity Holding Corporation by 18.4% in the 2nd quarter. State Street Corp now owns 475,077 shares of the software maker’s stock worth $21,468,000 after buying an additional 73,786 shares during the last quarter. Institutional investors own 59.44% of the company’s stock.

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In other Paylocity Holding Corporation news, CEO Steven R. Beauchamp sold 24,530 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $50.24, for a total value of $1,232,387.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey T. Diehl sold 1,155,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $45.00, for a total value of $51,975,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,288,715 shares of company stock worth $58,424,412. Corporate insiders own 48.80% of the company’s stock.

A number of research analysts have weighed in on the stock. TheStreet raised shares of Paylocity Holding Corporation from a “c” rating to a “b-” rating in a research note on Friday, November 3rd. Bank of America Corporation raised their target price on shares of Paylocity Holding Corporation from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Zacks Investment Research raised shares of Paylocity Holding Corporation from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research note on Tuesday, July 18th. Raymond James Financial, Inc. set a $55.00 target price on shares of Paylocity Holding Corporation and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $55.00 target price (up from $50.00) on shares of Paylocity Holding Corporation in a research note on Friday, August 11th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $52.92.

Shares of Paylocity Holding Corporation (PCTY) opened at $47.38 on Wednesday. The company has a market cap of $2,491.40, a P/E ratio of 215.64, a PEG ratio of 6.30 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 released its quarterly earnings results on Thursday, November 2nd. The software maker reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.17. The firm had revenue of $81.50 million for the quarter, compared to analyst estimates of $80.88 million. Paylocity Holding Corporation had a net margin of 3.11% and a return on equity of 7.98%. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.07 EPS. analysts predict that Paylocity Holding Corporation will post 0.32 earnings per share for the current year.

Paylocity Holding Corporation Profile

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.

Institutional Ownership by Quarter for Paylocity Holding Corporation (NASDAQ:PCTY)

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