Paylocity Holding Co. (NASDAQ:PCTY) Shares Bought by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP lifted its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 2.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 483,015 shares of the software maker’s stock after buying an additional 10,498 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.86% of Paylocity worth $79,625,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. American National Bank acquired a new position in Paylocity during the fourth quarter worth about $31,000. GAMMA Investing LLC acquired a new stake in Paylocity during the 4th quarter valued at $36,000. RiverPark Advisors LLC purchased a new position in Paylocity during the third quarter worth $43,000. Principal Securities Inc. purchased a new stake in shares of Paylocity in the fourth quarter valued at $41,000. Finally, Signaturefd LLC lifted its position in shares of Paylocity by 115.5% in the third quarter. Signaturefd LLC now owns 502 shares of the software maker’s stock valued at $91,000 after acquiring an additional 269 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PCTY shares. BTIG Research started coverage on shares of Paylocity in a report on Tuesday, February 6th. They issued a “buy” rating and a $200.00 target price on the stock. Citigroup raised their target price on shares of Paylocity from $176.00 to $178.00 and gave the stock a “neutral” rating in a research report on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $200.00 price target on shares of Paylocity in a report on Friday, May 3rd. TD Cowen reduced their price target on Paylocity from $188.00 to $180.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Finally, Barclays lifted their price objective on Paylocity from $166.00 to $178.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and a consensus price target of $196.40.

Insider Buying and Selling

In other Paylocity news, CEO Steven R. Beauchamp sold 7,760 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $166.95, for a total value of $1,295,532.00. Following the transaction, the chief executive officer now owns 1,746,468 shares of the company’s stock, valued at $291,572,832.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Katherine Ross sold 491 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $168.29, for a total value of $82,630.39. Following the completion of the transaction, the senior vice president now owns 15,353 shares in the company, valued at approximately $2,583,756.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steven R. Beauchamp sold 7,760 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $166.95, for a total value of $1,295,532.00. Following the transaction, the chief executive officer now directly owns 1,746,468 shares of the company’s stock, valued at $291,572,832.60. The disclosure for this sale can be found here. Insiders have sold 30,043 shares of company stock worth $5,056,642 over the last ninety days. 22.50% of the stock is owned by insiders.

Paylocity Stock Performance

Shares of Paylocity stock traded down $10.55 during trading on Friday, reaching $153.64. The company had a trading volume of 761,103 shares, compared to its average volume of 610,276. Paylocity Holding Co. has a fifty-two week low of $139.40 and a fifty-two week high of $230.52. The firm’s fifty day moving average is $165.39 and its 200-day moving average is $162.60. The company has a market cap of $8.67 billion, a price-to-earnings ratio of 44.66, a price-to-earnings-growth ratio of 2.88 and a beta of 0.88.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, May 2nd. The software maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.29. The firm had revenue of $401.28 million for the quarter, compared to analysts’ expectations of $396.93 million. Paylocity had a return on equity of 22.08% and a net margin of 14.42%. On average, research analysts anticipate that Paylocity Holding Co. will post 3.85 EPS for the current fiscal year.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.