Hardy Reed LLC Makes New $236,000 Investment in Paylocity Holding Co. (NASDAQ:PCTY)

Hardy Reed LLC bought a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,181 shares of the software maker’s stock, valued at approximately $236,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in shares of Paylocity by 16,397.9% during the third quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock worth $1,279,000 after buying an additional 7,707 shares during the last quarter. Certuity LLC acquired a new position in shares of Paylocity during the fourth quarter worth $232,000. Edgestream Partners L.P. lifted its holdings in shares of Paylocity by 222.3% during the third quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock worth $1,788,000 after purchasing an additional 7,475 shares during the period. Barclays PLC lifted its holdings in shares of Paylocity by 14.3% during the third quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock worth $7,407,000 after purchasing an additional 5,609 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Paylocity by 5,742.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker’s stock worth $1,165,000 after purchasing an additional 5,742 shares during the period. Institutional investors own 94.76% of the company’s stock.

Insider Transactions at Paylocity

In other Paylocity news, Director Jeffrey T. Diehl sold 4,513 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $209.91, for a total value of $947,323.83. Following the completion of the sale, the director now directly owns 1,003 shares of the company’s stock, valued at approximately $210,539.73. This represents a 81.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven I. Sarowitz sold 2,600 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $200.14, for a total transaction of $520,364.00. Following the completion of the sale, the director now directly owns 8,332,347 shares of the company’s stock, valued at $1,667,635,928.58. The trade was a 0.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,305 shares of company stock valued at $20,130,202 over the last three months. Corporate insiders own 21.91% of the company’s stock.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $212.68 on Thursday. The firm’s 50-day moving average price is $202.69 and its 200-day moving average price is $185.10. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80. The firm has a market capitalization of $11.89 billion, a P/E ratio of 54.53, a P/E/G ratio of 4.73 and a beta of 0.95. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28.

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

Wall Street Analyst Weigh In

PCTY has been the topic of a number of recent research reports. UBS Group lifted their price target on shares of Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. BMO Capital Markets lifted their price target on shares of Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Citigroup upgraded shares of Paylocity from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $214.00 to $231.00 in a report on Thursday, January 16th. TD Cowen cut their price target on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Mizuho upgraded shares of Paylocity from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $200.00 to $235.00 in a report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.25.

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.