Parkside Financial Bank & Trust grew its position in Paylocity Holding Corp (NASDAQ:PCTY) by 588.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 592 shares of the software maker’s stock after buying an additional 506 shares during the period. Parkside Financial Bank & Trust’s holdings in Paylocity were worth $56,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in PCTY. Norges Bank bought a new stake in shares of Paylocity in the 4th quarter valued at about $12,819,000. Wasatch Advisors Inc. boosted its holdings in shares of Paylocity by 9.3% in the 1st quarter. Wasatch Advisors Inc. now owns 2,008,033 shares of the software maker’s stock valued at $179,096,000 after buying an additional 171,514 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Paylocity in the 1st quarter valued at about $13,600,000. Federated Investors Inc. PA boosted its holdings in shares of Paylocity by 380.6% in the 1st quarter. Federated Investors Inc. PA now owns 190,223 shares of the software maker’s stock valued at $16,966,000 after buying an additional 150,642 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Paylocity by 26.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 453,995 shares of the software maker’s stock valued at $27,335,000 after buying an additional 95,223 shares in the last quarter. Institutional investors and hedge funds own 63.02% of the company’s stock.
In other Paylocity news, Director Ronald V. Waters sold 4,516 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $106.30, for a total transaction of $480,050.80. Following the completion of the transaction, the director now directly owns 14,415,427 shares of the company’s stock, valued at approximately $1,532,359,890.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald V. Waters sold 484 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $105.10, for a total transaction of $50,868.40. Following the transaction, the director now directly owns 26,200 shares of the company’s stock, valued at $2,753,620. The disclosure for this sale can be found here. Insiders sold a total of 269,844 shares of company stock valued at $26,743,669 over the last quarter. 41.20% of the stock is owned by company insiders.
Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, August 8th. The software maker reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.27. The company had revenue of $120.37 million during the quarter, compared to analysts’ expectations of $117.51 million. Paylocity had a net margin of 11.57% and a return on equity of 18.19%. Paylocity’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period last year, the business earned $0.11 EPS. As a group, analysts expect that Paylocity Holding Corp will post 1.06 earnings per share for the current year.
A number of analysts have recently weighed in on the stock. Royal Bank of Canada restated a “neutral” rating on shares of Paylocity in a report on Sunday, August 11th. JMP Securities raised their price target on shares of Paylocity to $115.00 and gave the company a “market perform” rating in a report on Monday, July 22nd. BidaskClub cut shares of Paylocity from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 15th. KeyCorp raised their price target on shares of Paylocity from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Jefferies Financial Group lifted their target price on shares of Paylocity to $115.00 in a research note on Thursday, August 8th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Paylocity presently has an average rating of “Buy” and an average target price of $105.67.
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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