AQR Capital Management LLC raised its position in Paylocity Holding Corp (NASDAQ:PCTY) by 8.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 16,041 shares of the software maker’s stock after acquiring an additional 1,227 shares during the quarter. AQR Capital Management LLC’s holdings in Paylocity were worth $1,288,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. AMP Capital Investors Ltd acquired a new position in shares of Paylocity during the 2nd quarter worth $288,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Paylocity during the 3rd quarter worth $345,000. Janus Henderson Group PLC grew its stake in shares of Paylocity by 2.7% during the 3rd quarter. Janus Henderson Group PLC now owns 564,049 shares of the software maker’s stock worth $45,304,000 after purchasing an additional 14,595 shares during the period. Tower Research Capital LLC TRC acquired a new position in shares of Paylocity during the 2nd quarter worth $102,000. Finally, Deutsche Bank AG grew its stake in shares of Paylocity by 38.2% during the 3rd quarter. Deutsche Bank AG now owns 238,437 shares of the software maker’s stock worth $19,149,000 after purchasing an additional 65,868 shares during the period. 63.79% of the stock is currently owned by institutional investors.
A number of equities analysts have recently weighed in on PCTY shares. Bank of America upped their price target on shares of Paylocity from $73.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, September 26th. Jefferies Financial Group started coverage on shares of Paylocity in a research note on Monday, October 1st. They set a “hold” rating and a $88.00 price target on the stock. BidaskClub cut shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Zacks Investment Research cut shares of Paylocity from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 10th. Finally, Robert W. Baird upped their price target on shares of Paylocity from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Friday, November 2nd. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $68.36.
Paylocity stock opened at $66.37 on Tuesday. Paylocity Holding Corp has a 52 week low of $41.15 and a 52 week high of $88.47. The stock has a market capitalization of $3.50 billion, a P/E ratio of 214.10, a price-to-earnings-growth ratio of 5.64 and a beta of 2.03.
Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, November 1st. The software maker reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. Paylocity had a net margin of 12.08% and a return on equity of 12.35%. The business had revenue of $100.50 million for the quarter, compared to analyst estimates of $98.37 million. During the same period in the previous year, the firm earned $0.15 EPS. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, analysts anticipate that Paylocity Holding Corp will post 0.59 earnings per share for the current fiscal year.
In related news, Director Steven I. Sarowitz sold 80,000 shares of the business’s stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $61.65, for a total value of $4,932,000.00. Following the sale, the director now directly owns 14,771,651 shares in the company, valued at approximately $910,672,284.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven I. Sarowitz sold 72,500 shares of the business’s stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $62.78, for a total transaction of $4,551,550.00. The disclosure for this sale can be found here. Insiders sold a total of 183,109 shares of company stock worth $11,527,499 over the last quarter. Insiders own 41.20% of the company’s stock.
Paylocity Company 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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