RiverPark Advisors LLC Has $66,000 Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

RiverPark Advisors LLC raised its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 152.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 383 shares of the software maker’s stock after acquiring an additional 231 shares during the quarter. RiverPark Advisors LLC’s holdings in Paylocity were worth $66,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors increased its position in shares of Paylocity by 119.0% during the fourth quarter. Capital International Investors now owns 1,211,021 shares of the software maker’s stock worth $199,637,000 after buying an additional 658,057 shares during the period. Wasatch Advisors LP increased its position in shares of Paylocity by 35.0% during the first quarter. Wasatch Advisors LP now owns 2,396,692 shares of the software maker’s stock worth $411,895,000 after buying an additional 621,946 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Paylocity during the fourth quarter worth $82,172,000. Clearbridge Investments LLC increased its position in shares of Paylocity by 2,212.5% during the fourth quarter. Clearbridge Investments LLC now owns 381,952 shares of the software maker’s stock worth $62,965,000 after buying an additional 365,435 shares during the period. Finally, Owls Nest Partners IA LLC acquired a new stake in shares of Paylocity during the fourth quarter worth $29,038,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on PCTY shares. Robert W. Baird cut their target price on shares of Paylocity from $225.00 to $195.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 18th. Piper Sandler dropped their price objective on shares of Paylocity from $210.00 to $194.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Citigroup dropped their price objective on shares of Paylocity from $178.00 to $155.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Jefferies Financial Group dropped their price objective on shares of Paylocity from $180.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Finally, KeyCorp raised their price objective on shares of Paylocity from $186.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $190.65.

Paylocity Stock Up 0.5 %

NASDAQ PCTY traded up $0.71 during trading hours on Tuesday, reaching $134.01. 459,049 shares of the company were exchanged, compared to its average volume of 527,520. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $230.52. The business’s 50 day simple moving average is $148.35 and its 200-day simple moving average is $158.96. The stock has a market capitalization of $7.56 billion, a P/E ratio of 38.96, a P/E/G ratio of 2.31 and a beta of 0.92.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, May 2nd. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.29. Paylocity had a net margin of 14.42% and a return on equity of 22.08%. The business had revenue of $401.28 million during the quarter, compared to the consensus estimate of $396.93 million. As a group, sell-side analysts anticipate that Paylocity Holding Co. will post 3.95 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Nicholas Rost sold 331 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $138.73, for a total transaction of $45,919.63. Following the completion of the sale, the chief accounting officer now owns 4,751 shares in the company, valued at $659,106.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 22.50% of the stock is currently owned by corporate insiders.

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.