Bank of Montreal Can grew its stake in Paylocity Holding Corp (NASDAQ:PCTY) by 53.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 32,747 shares of the software maker’s stock after acquiring an additional 11,398 shares during the period. Bank of Montreal Can owned about 0.06% of Paylocity worth $3,072,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in PCTY. Wasatch Advisors Inc. raised its stake 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 acquiring an additional 171,514 shares during the period. Westfield Capital Management Co. LP purchased a new stake in shares of Paylocity in the 1st quarter valued at approximately $13,600,000. Federated Investors Inc. PA raised its stake 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 acquiring an additional 150,642 shares during the period. Dimensional Fund Advisors LP raised its stake 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 acquiring an additional 95,223 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Paylocity by 417.5% in the 1st quarter. JPMorgan Chase & Co. now owns 114,263 shares of the software maker’s stock valued at $10,190,000 after acquiring an additional 92,184 shares during the period. 66.04% of the stock is currently owned by institutional investors and hedge funds.
In other Paylocity news, insider Mark S. Kinsey sold 635 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $103.34, for a total value of $65,620.90. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Steven R. Beauchamp sold 65,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $98.89, for a total transaction of $6,427,850.00. Following the completion of the sale, the chief executive officer now directly owns 1,817,080 shares in the company, valued at $179,691,041.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 262,076 shares of company stock worth $26,692,978. 41.20% of the stock is owned by insiders.
Shares of PCTY opened at $98.42 on Friday. Paylocity Holding Corp has a fifty-two week low of $53.46 and a fifty-two week high of $112.46. The firm’s 50 day moving average price is $104.87 and its 200 day moving average price is $96.79. The company has a market cap of $5.12 billion, a P/E ratio of 91.13, a PEG ratio of 4.60 and a beta of 1.63.
Paylocity (NASDAQ:PCTY) last announced its earnings results on Thursday, August 8th. The software maker reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.27. Paylocity had a net margin of 11.57% and a return on equity of 18.19%. The firm had revenue of $120.37 million for the quarter, compared to the consensus estimate of $117.51 million. During the same period in the prior year, the firm earned $0.11 EPS. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. As a group, research analysts predict that Paylocity Holding Corp will post 1.06 earnings per share for the current year.
A number of equities research analysts have recently issued reports on PCTY shares. Jefferies Financial Group boosted their price target on shares of Paylocity to $115.00 in a research note on Thursday, August 8th. Royal Bank of Canada reissued a “neutral” rating on shares of Paylocity in a research note on Sunday, August 11th. SunTrust Banks boosted their price target on shares of Paylocity from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. BidaskClub downgraded shares of Paylocity from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th. Finally, KeyCorp upped their target price on shares of Paylocity from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target 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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