TimesSquare Capital Management LLC increased its stake in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,042,500 shares of the software maker’s stock after acquiring an additional 46,950 shares during the quarter. TimesSquare Capital Management LLC owned about 1.98% of Paylocity Holding Corporation worth $50,895,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PCTY. Ameritas Investment Partners Inc. lifted 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 valued at $103,000 after purchasing an additional 421 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Paylocity Holding Corporation by 562.6% during the second quarter. BNP Paribas Arbitrage SA now owns 3,293 shares of the software maker’s stock valued at $149,000 after purchasing an additional 2,796 shares during the last quarter. Bank of Montreal Can lifted 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 valued at $154,000 after purchasing an additional 42 shares during the last quarter. Turner Investments LLC bought a new position in Paylocity Holding Corporation during the second quarter valued at $158,000. Finally, Nomura Holdings Inc. bought a new position in Paylocity Holding Corporation during the second quarter valued at $208,000. Hedge funds and other institutional investors own 59.88% of the company’s stock.

Several research firms have commented on PCTY. Raymond James Financial, Inc. set a $55.00 price objective on shares of Paylocity Holding Corporation and gave the company a “buy” rating in a research report on Wednesday, August 9th. Bank of America Corporation reiterated a “buy” rating and set a $47.00 price objective (down previously from $50.00) on shares of Paylocity Holding Corporation in a research report on Friday, August 11th. Mizuho reiterated a “hold” rating and set a $45.00 price objective on shares of Paylocity Holding Corporation in a research report on Thursday, August 10th. Stifel Nicolaus reiterated a “buy” rating and set a $55.00 price objective (up previously from $50.00) on shares of Paylocity Holding Corporation in a research report on Friday, August 11th. Finally, BidaskClub downgraded shares of Paylocity Holding Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $52.92.

In related news, SVP Edward W. Gaty sold 5,185 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $48.92, for a total value of $253,650.20. Following the transaction, the senior vice president now owns 116,135 shares of the company’s stock, valued at approximately $5,681,324.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven R. Beauchamp sold 5,470 shares of the firm’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $50.09, for a total transaction of $273,992.30. The disclosure for this sale can be found here. In the last three months, insiders sold 1,429,857 shares of company stock worth $66,253,404. Insiders own 48.80% of the company’s stock.

Shares of Paylocity Holding Corporation (NASDAQ:PCTY) opened at $48.22 on Friday. Paylocity Holding Corporation has a 12 month low of $29.69 and a 12 month high of $53.96. The firm has a market cap of $2,512.93, a price-to-earnings ratio of 217.50, a PEG ratio of 6.28 and a beta of 2.24.

Paylocity Holding Corporation (NASDAQ:PCTY) last announced its earnings results on Thursday, November 2nd. The software maker reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.17. Paylocity Holding Corporation had a net margin of 3.11% and a return on equity of 7.98%. The business had revenue of $81.50 million for the quarter, compared to the consensus estimate of $80.88 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. analysts anticipate that Paylocity Holding Corporation will post 0.32 earnings per share for the current fiscal year.

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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.

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

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