iSAM Funds UK Ltd Has $305,000 Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

iSAM Funds UK Ltd cut its position in Paylocity Holding Co. (NASDAQ:PCTY) by 21.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,530 shares of the software maker’s stock after selling 413 shares during the period. iSAM Funds UK Ltd’s holdings in Paylocity were worth $305,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Paylocity by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker’s stock valued at $803,745,000 after buying an additional 46,183 shares during the period. Invesco Ltd. grew its stake in shares of Paylocity by 31.7% in the 4th quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker’s stock valued at $265,737,000 after buying an additional 320,319 shares during the period. Geode Capital Management LLC boosted its stake in Paylocity by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 1,073,988 shares of the software maker’s stock valued at $214,275,000 after purchasing an additional 25,182 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Paylocity by 0.8% during the 4th quarter. JPMorgan Chase & Co. now owns 863,787 shares of the software maker’s stock valued at $172,300,000 after purchasing an additional 7,251 shares during the last quarter. Finally, FMR LLC boosted its stake in Paylocity by 138.5% during the 4th quarter. FMR LLC now owns 650,599 shares of the software maker’s stock valued at $129,775,000 after purchasing an additional 377,835 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Steven I. Sarowitz sold 26,252 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.91, for a total value of $5,116,777.32. Following the completion of the transaction, the director now directly owns 420,000 shares in the company, valued at approximately $81,862,200. The trade was a 5.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 21.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PCTY. KeyCorp cut their price target on Paylocity from $250.00 to $220.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Mizuho cut their price target on Paylocity from $245.00 to $220.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Raymond James reiterated an “outperform” rating and set a $235.00 price target (down previously from $265.00) on shares of Paylocity in a research note on Friday, May 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $250.00 price target on shares of Paylocity in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $223.00.

Paylocity Trading Up 0.1%

Shares of PCTY stock opened at $200.56 on Wednesday. The company’s fifty day simple moving average is $188.60 and its two-hundred day simple moving average is $197.91. The stock has a market capitalization of $11.08 billion, a price-to-earnings ratio of 51.43, a PEG ratio of 4.49 and a beta of 0.58. 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 Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.34. The firm had revenue of $454.55 million during the quarter, compared to analyst estimates of $441.77 million. Paylocity had a net margin of 14.76% and a return on equity of 22.45%. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 EPS. As a group, analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

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.