Summit Creek Advisors LLC Has $15.46 Million Stock Holdings in Paylocity Holding Corporation $PCTY

Summit Creek Advisors LLC trimmed its position in Paylocity Holding Corporation (NASDAQ:PCTY) by 11.3% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 97,051 shares of the software maker’s stock after selling 12,379 shares during the period. Paylocity comprises approximately 2.3% of Summit Creek Advisors LLC’s holdings, making the stock its 20th largest holding. Summit Creek Advisors LLC owned about 0.18% of Paylocity worth $15,457,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PCTY. AQR Capital Management LLC boosted its holdings in Paylocity by 500.6% in the second quarter. AQR Capital Management LLC now owns 449,935 shares of the software maker’s stock valued at $81,438,000 after acquiring an additional 375,023 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Paylocity by 1,995.2% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 259,800 shares of the software maker’s stock valued at $47,073,000 after purchasing an additional 247,400 shares during the period. Norges Bank bought a new position in shares of Paylocity in the 2nd quarter valued at about $34,042,000. Qube Research & Technologies Ltd grew its position in shares of Paylocity by 120.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 342,416 shares of the software maker’s stock worth $62,042,000 after buying an additional 186,952 shares during the period. Finally, AustralianSuper Pty Ltd bought a new stake in shares of Paylocity during the second quarter worth approximately $28,760,000. Institutional investors own 94.76% of the company’s stock.

Paylocity Stock Down 2.2%

PCTY opened at $150.39 on Monday. The stock has a market cap of $8.18 billion, a P/E ratio of 37.69, a P/E/G ratio of 4.43 and a beta of 0.56. Paylocity Holding Corporation has a 12 month low of $135.46 and a 12 month high of $223.80. The company has a fifty day simple moving average of $148.19 and a 200 day simple moving average of $162.78.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Tuesday, November 4th. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. The firm had revenue of $408.17 million during the quarter, compared to analysts’ expectations of $399.53 million. Paylocity had a return on equity of 22.07% and a net margin of 13.75%.The company’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.66 earnings per share. On average, equities research analysts expect that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

Insider Transactions at Paylocity

In related news, CFO Ryan Glenn sold 1,737 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $143.65, for a total transaction of $249,520.05. Following the completion of the sale, the chief financial officer directly owned 77,229 shares of the company’s stock, valued at approximately $11,093,945.85. This represents a 2.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 19.40% of the company’s stock.

Analyst Upgrades and Downgrades

PCTY has been the topic of several analyst reports. Citizens Jmp cut their price objective on shares of Paylocity from $270.00 to $245.00 and set a “market outperform” rating on the stock in a report on Wednesday, November 5th. BTIG Research began coverage on Paylocity in a research note on Tuesday, December 16th. They issued a “buy” rating and a $180.00 price target on the stock. Guggenheim upgraded Paylocity from a “neutral” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Monday, November 10th. Barclays dropped their price objective on Paylocity from $195.00 to $175.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. Finally, Stephens cut their target price on Paylocity from $200.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.16.

Paylocity Company Profile

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.