Gallacher Capital Management LLC Has $397,000 Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Gallacher Capital Management LLC increased its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,989 shares of the software maker’s stock after acquiring an additional 88 shares during the quarter. Gallacher Capital Management LLC’s holdings in Paylocity were worth $397,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. CIBC Asset Management Inc grew its position in Paylocity by 3.6% in the third quarter. CIBC Asset Management Inc now owns 1,652 shares of the software maker’s stock worth $273,000 after acquiring an additional 58 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock worth $55,000 after acquiring an additional 63 shares in the last quarter. UMB Bank n.a. grew its position in Paylocity by 41.1% in the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after acquiring an additional 72 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Paylocity by 2.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,156 shares of the software maker’s stock worth $630,000 after buying an additional 77 shares during the period. Finally, Avantax Advisory Services Inc. boosted its holdings in shares of Paylocity by 5.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 1,940 shares of the software maker’s stock worth $387,000 after buying an additional 98 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Trading Up 1.7 %

Shares of PCTY stock opened at $186.24 on Friday. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $223.80. The stock has a market cap of $10.41 billion, a price-to-earnings ratio of 47.75, a P/E/G ratio of 4.49 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a fifty day moving average of $201.95 and a 200-day moving average of $190.22.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. On average, equities research analysts forecast that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Steven I. Sarowitz sold 1,400 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $200.59, for a total value of $280,826.00. Following the sale, the director now owns 8,338,430 shares of the company’s stock, valued at approximately $1,672,605,673.70. This represents a 0.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 18,566 shares of company stock worth $3,755,321. 21.91% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on PCTY. Citigroup raised shares of Paylocity from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $214.00 to $231.00 in a report on Thursday, January 16th. Piper Sandler reaffirmed an “overweight” rating and set a $254.00 price objective (up from $212.00) on shares of Paylocity in a report on Thursday, February 6th. Stifel Nicolaus upped their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, February 7th. TD Cowen decreased their price objective on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Needham & Company LLC upped their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $233.25.

About Paylocity

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.