PNC Financial Services Group Inc. raised its holdings in shares of Paylocity Holding Corp (NASDAQ:PCTY) by 36.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,829 shares of the software maker’s stock after buying an additional 1,840 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Paylocity were worth $402,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in shares of Paylocity by 4.5% in the first quarter. Principal Financial Group Inc. now owns 21,816 shares of the software maker’s stock valued at $1,117,000 after purchasing an additional 943 shares during the period. US Bancorp DE grew its holdings in shares of Paylocity by 10.4% in the second quarter. US Bancorp DE now owns 10,871 shares of the software maker’s stock valued at $640,000 after purchasing an additional 1,020 shares during the period. Bank of Montreal Can grew its holdings in shares of Paylocity by 16.4% in the second quarter. Bank of Montreal Can now owns 8,491 shares of the software maker’s stock valued at $500,000 after purchasing an additional 1,198 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of Paylocity by 17.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 8,293 shares of the software maker’s stock valued at $425,000 after purchasing an additional 1,244 shares during the period. Finally, OppenheimerFunds Inc. grew its holdings in shares of Paylocity by 0.5% in the first quarter. OppenheimerFunds Inc. now owns 302,713 shares of the software maker’s stock valued at $15,508,000 after purchasing an additional 1,427 shares during the period. 65.40% of the stock is owned by institutional investors and hedge funds.

PCTY has been the subject of a number of analyst reports. BidaskClub lowered shares of Paylocity from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 25th. Guggenheim initiated coverage on shares of Paylocity in a report on Monday, August 20th. They issued a “buy” rating and a $80.00 price objective for the company. Zacks Investment Research raised shares of Paylocity from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Tuesday, August 14th. Raymond James reissued a “buy” rating and issued a $75.00 price objective on shares of Paylocity in a report on Monday, August 13th. Finally, Needham & Company LLC upped their price objective on shares of Paylocity from $65.00 to $80.00 and gave the company a “buy” rating in a report on Friday, August 10th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $65.62.

In other Paylocity news, Director Jeffrey T. Diehl sold 750,000 shares of the stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $65.75, for a total transaction of $49,312,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven I. Sarowitz sold 144,124 shares of the stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $64.75, for a total transaction of $9,332,029.00. Following the transaction, 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 ninety days, insiders have sold 1,002,124 shares of company stock valued at $65,904,551. 48.80% of the stock is currently owned by insiders.

Shares of PCTY stock opened at $81.39 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.01. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 262.55, a P/E/G ratio of 4.33 and a beta of 2.09. Paylocity Holding Corp has a 1-year low of $41.15 and a 1-year high of $88.47.

Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, August 9th. The software maker reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.01). The company had revenue of $96.62 million for the quarter, compared to analysts’ expectations of $93.33 million. Paylocity had a return on equity of 12.44% and a net margin of 10.22%. The company’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same period last year, the business earned $0.09 EPS. equities research analysts anticipate that Paylocity Holding Corp will post 0.75 earnings per share for the current fiscal year.

Paylocity Profile

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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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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