GSA Capital Partners LLP boosted its holdings in Paylocity Holding Corp (NASDAQ:PCTY) by 19.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,454 shares of the software maker’s stock after acquiring an additional 2,528 shares during the quarter. GSA Capital Partners LLP’s holdings in Paylocity were worth $1,450,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB increased its stake in Paylocity by 1.6% in the 1st quarter. Nordea Investment Management AB now owns 61,542 shares of the software maker’s stock worth $5,489,000 after acquiring an additional 954 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of Paylocity in the 1st quarter worth about $61,000. Marshall Wace North America L.P. boosted its holdings in shares of Paylocity by 35.6% in the 1st quarter. Marshall Wace North America L.P. now owns 64,456 shares of the software maker’s stock worth $5,749,000 after purchasing an additional 16,908 shares in the last quarter. Broadleaf Partners LLC boosted its holdings in shares of Paylocity by 26.5% in the 2nd quarter. Broadleaf Partners LLC now owns 38,275 shares of the software maker’s stock worth $3,591,000 after purchasing an additional 8,023 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Paylocity in the 4th quarter worth about $12,819,000. Institutional investors and hedge funds own 63.02% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Craig Hallum reiterated a “hold” rating and issued a $97.00 price objective (up from $78.00) on shares of Paylocity in a report on Friday, May 3rd. Mizuho assumed coverage on Paylocity in a report on Wednesday. They issued a “neutral” rating and a $105.00 price objective for the company. Jefferies Financial Group upped their price objective on Paylocity to $115.00 in a report on Thursday, August 8th. Stifel Nicolaus upped their price objective on Paylocity from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, JMP Securities upped their price objective on Paylocity to $115.00 and gave the stock a “market perform” rating in a report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Paylocity presently has an average rating of “Buy” and an average target price of $105.67.
Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, August 8th. The software maker reported $0.34 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 18.19% and a net margin of 11.57%. Paylocity’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 EPS. As a group, equities analysts predict that Paylocity Holding Corp will post 1.06 earnings per share for the current fiscal year.
In related news, COO Michael R. Haske sold 50,000 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $91.64, for a total transaction of $4,582,000.00. Following the completion of the sale, the chief operating officer now directly owns 868,334 shares in the company, valued at approximately $79,574,127.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Steven R. Beauchamp sold 65,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $98.89, for a total value of $6,427,850.00. Following the sale, the chief executive officer now owns 1,817,080 shares of the company’s stock, valued at $179,691,041.20. The disclosure for this sale can be found here. Insiders have sold a total of 269,844 shares of company stock valued at $26,743,669 over the last 90 days. 41.20% of the stock is currently owned by company insiders.
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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