Martingale Asset Management L P Takes $278,000 Position in Paylocity Holding Co. (NASDAQ:PCTY)

Martingale Asset Management L P acquired a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 1,392 shares of the software maker’s stock, valued at approximately $278,000.

A number of other hedge funds have also recently bought and sold shares of the company. HighTower Advisors LLC lifted its stake in shares of Paylocity by 25.6% during the third quarter. HighTower Advisors LLC now owns 4,592 shares of the software maker’s stock valued at $751,000 after acquiring an additional 936 shares during the period. Stifel Financial Corp boosted its stake in shares of Paylocity by 0.6% in the 3rd quarter. Stifel Financial Corp now owns 23,412 shares of the software maker’s stock valued at $3,862,000 after purchasing an additional 133 shares during the last quarter. Barclays PLC grew its position in shares of Paylocity by 14.3% during the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock worth $7,407,000 after buying an additional 5,609 shares during the period. Geode Capital Management LLC grew its position in shares of Paylocity by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock worth $173,053,000 after buying an additional 36,590 shares during the period. Finally, Coldstream Capital Management Inc. bought a new stake in shares of Paylocity during the third quarter worth approximately $239,000. 94.76% of the stock is currently owned by institutional investors.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $187.27 on Monday. The company has a fifty day moving average price of $196.14 and a 200 day moving average price of $194.30. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80. The firm has a market cap of $10.47 billion, a PE ratio of 48.02, a PEG ratio of 4.49 and a beta of 0.76. 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 earnings results 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%. Research analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on PCTY shares. Piper Sandler reaffirmed an “overweight” rating and set a $254.00 target price (up previously from $212.00) on shares of Paylocity in a report on Thursday, February 6th. Raymond James reaffirmed an “outperform” rating and set a $265.00 price objective (up from $215.00) on shares of Paylocity in a research note on Friday, February 7th. Jefferies Financial Group increased their target price on Paylocity from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, February 7th. JMP Securities boosted their target price on Paylocity from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research report on Friday, February 7th. Finally, Citigroup upgraded shares of Paylocity from a “neutral” rating to a “buy” rating and increased their price target for the company from $214.00 to $231.00 in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.25.

Insider Transactions at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 23,243 shares of Paylocity stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $191.00, for a total value of $4,439,413.00. Following the sale, the director now directly owns 470,452 shares in the company, valued at approximately $89,856,332. The trade was a 4.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 21.91% of the stock is currently owned by insiders.

Paylocity 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.