Verition Fund Management LLC purchased a new position in Paylocity Holding Corp (NASDAQ:PCTY) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,422 shares of the software maker’s stock, valued at approximately $275,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC bought a new stake in Paylocity in the 2nd quarter worth approximately $102,000. NumerixS Investment Technologies Inc increased its position in shares of Paylocity by 2,000.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 2,100 shares of the software maker’s stock valued at $124,000 after purchasing an additional 2,000 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Paylocity during the 3rd quarter valued at approximately $143,000. Quantbot Technologies LP bought a new position in shares of Paylocity during the 3rd quarter valued at approximately $168,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of Paylocity during the 3rd quarter valued at approximately $215,000. 63.79% of the stock is currently owned by institutional investors.
Shares of NASDAQ PCTY traded up $0.30 during mid-day trading on Wednesday, reaching $66.57. 252,900 shares of the company were exchanged, compared to its average volume of 197,967. The stock has a market capitalization of $3.50 billion, a P/E ratio of 213.87, a price-to-earnings-growth ratio of 5.64 and a beta of 2.03. Paylocity Holding Corp has a 1 year low of $41.15 and a 1 year high of $88.47.
Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, November 1st. The software maker reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Paylocity had a return on equity of 12.35% and a net margin of 12.08%. The firm had revenue of $100.50 million during the quarter, compared to analysts’ expectations of $98.37 million. During the same period in the prior year, the business posted $0.15 EPS. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. Analysts predict that Paylocity Holding Corp will post 0.59 EPS for the current year.
Several equities analysts have commented on PCTY shares. Jefferies Financial Group started coverage on Paylocity in a research report on Monday, October 1st. They issued a “hold” rating and a $88.00 price objective on the stock. Bank of America upped their price objective on Paylocity from $73.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, September 26th. BidaskClub downgraded Paylocity from a “hold” rating to a “sell” rating in a research report on Monday, October 15th. Zacks Investment Research downgraded Paylocity from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Finally, Robert W. Baird upped their target price on Paylocity from $68.00 to $71.00 and gave the stock an “outperform” rating in a report on Friday, November 2nd. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Paylocity presently has an average rating of “Buy” and a consensus target price of $68.36.
In related news, Director Steven I. Sarowitz sold 72,500 shares of the company’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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Steven I. Sarowitz sold 80,000 shares of the 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 completion of the transaction, the director now directly owns 14,771,651 shares in the company, valued at $910,672,284.15. The disclosure for this sale can be found here. Insiders have sold a total of 183,109 shares of company stock worth $11,527,499 over the last ninety days. 41.20% of the stock is currently owned by corporate insiders.
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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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