American Century Companies Inc. Buys 229,179 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

American Century Companies Inc. increased its position in Paylocity Holding Co. (NASDAQ:PCTY) by 190.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 349,797 shares of the software maker’s stock after purchasing an additional 229,179 shares during the quarter. American Century Companies Inc. owned approximately 0.63% of Paylocity worth $69,774,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Paylocity by 0.5% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker’s stock worth $1,916,000 after buying an additional 49 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in Paylocity by 44.6% during the 4th quarter. Teacher Retirement System of Texas now owns 14,678 shares of the software maker’s stock worth $2,928,000 after acquiring an additional 4,525 shares in the last quarter. Trillium Asset Management LLC raised its holdings in shares of Paylocity by 194.7% in the 4th quarter. Trillium Asset Management LLC now owns 99,706 shares of the software maker’s stock valued at $19,888,000 after purchasing an additional 65,869 shares in the last quarter. Xponance Inc. lifted its position in shares of Paylocity by 5.2% in the 4th quarter. Xponance Inc. now owns 8,978 shares of the software maker’s stock worth $1,791,000 after purchasing an additional 447 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in Paylocity by 124.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 22,874 shares of the software maker’s stock valued at $4,563,000 after buying an additional 12,691 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Paylocity

In related news, Director Steven I. Sarowitz sold 2,600 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $200.14, for a total transaction of $520,364.00. Following the sale, the director now owns 8,332,347 shares in the company, valued at approximately $1,667,635,928.58. This trade represents a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 28,926 shares of company stock valued at $5,578,628 in the last 90 days. 21.91% of the stock is currently owned by company insiders.

Paylocity Stock Down 0.7 %

NASDAQ:PCTY opened at $194.69 on Wednesday. The firm has a market capitalization of $10.88 billion, a P/E ratio of 49.92, a PEG ratio of 4.49 and a beta of 0.94. The company’s fifty day moving average price is $201.60 and its 200-day moving average price is $192.03. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share 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%. As a group, equities research analysts anticipate that Paylocity Holding Co. will post 4.36 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PCTY. Mizuho upgraded Paylocity from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $200.00 to $235.00 in a report on Friday, January 31st. StockNews.com lowered Paylocity from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Piper Sandler reissued an “overweight” rating and set a $254.00 price target (up from $212.00) on shares of Paylocity in a research report on Thursday, February 6th. KeyCorp lifted their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, Citigroup upgraded 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. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.