Fisher Asset Management LLC Buys 19,040 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Fisher Asset Management LLC increased its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 25.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,200 shares of the software maker’s stock after buying an additional 19,040 shares during the period. Fisher Asset Management LLC owned 0.17% of Paylocity worth $18,990,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Paylocity by 81.9% during the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock valued at $141,303,000 after purchasing an additional 385,625 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Paylocity by 283.8% during the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock valued at $51,101,000 after purchasing an additional 229,057 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Paylocity by 297.6% during the third quarter. Victory Capital Management Inc. now owns 119,560 shares of the software maker’s stock valued at $19,724,000 after purchasing an additional 89,487 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Paylocity by 113.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 96,406 shares of the software maker’s stock valued at $15,904,000 after purchasing an additional 51,276 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Paylocity by 19.3% during the third quarter. FMR LLC now owns 272,764 shares of the software maker’s stock valued at $44,998,000 after purchasing an additional 44,118 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PCTY has been the subject of a number of analyst reports. TD Cowen decreased their target price on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Citigroup raised shares of Paylocity from a “neutral” rating to a “buy” rating and raised their target price for the company from $214.00 to $231.00 in a research note on Thursday, January 16th. StockNews.com downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. JMP Securities raised their price target on shares of Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a research report on Friday, February 7th. Finally, Barclays raised their price target on shares of Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $233.25.

Insider Transactions at Paylocity

In other news, Director Steven I. Sarowitz sold 6,900 shares of Paylocity stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $209.02, for a total transaction of $1,442,238.00. Following the transaction, the director now owns 8,933,409 shares in the company, valued at $1,867,261,149.18. This trade represents a 0.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold 63,849 shares of company stock worth $12,982,226 in the last 90 days. 21.91% of the stock is currently owned by insiders.

Paylocity Trading Up 0.3 %

Shares of PCTY stock opened at $204.95 on Tuesday. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. The firm’s 50 day moving average is $203.50 and its 200 day moving average is $188.23. The stock has a market capitalization of $11.45 billion, a P/E ratio of 52.55, a P/E/G ratio of 4.49 and a beta of 0.95.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. Research analysts expect that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Paylocity Company Profile

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.