ING Groep NV Acquires New Shares in Paylocity Holding Co. (NASDAQ:PCTY)

ING Groep NV bought a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY) during the fourth quarter, HoldingsChannel.com reports. The firm bought 11,400 shares of the software maker’s stock, valued at approximately $2,274,000.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake 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 purchasing an additional 36,590 shares in the last quarter. JPMorgan Chase & Co. increased its position in Paylocity by 81.9% during the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock worth $141,303,000 after buying an additional 385,625 shares in the last quarter. Janus Henderson Group PLC increased its position in Paylocity by 3.5% during the third quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock worth $85,444,000 after buying an additional 17,560 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Paylocity by 283.8% in the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock worth $51,101,000 after acquiring an additional 229,057 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Paylocity by 3.2% during the third quarter. Lord Abbett & CO. LLC now owns 287,264 shares of the software maker’s stock valued at $47,389,000 after acquiring an additional 8,878 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Paylocity Price Performance

Paylocity stock opened at $204.82 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $11.45 billion, a P/E ratio of 52.52, a PEG ratio of 4.49 and a beta of 0.95. The firm has a fifty day moving average of $202.82 and a 200-day moving average of $185.84. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $223.80.

Paylocity (NASDAQ:PCTY) last issued its earnings results 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 return on equity of 22.45% and a net margin of 14.76%. As a group, analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current year.

Insider Buying and Selling at Paylocity

In related news, Director Steven I. Sarowitz sold 1,400 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $200.59, for a total transaction of $280,826.00. Following the completion of the sale, the director now directly owns 8,338,430 shares of the company’s stock, valued at approximately $1,672,605,673.70. This trade represents a 0.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey T. Diehl sold 4,513 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $209.91, for a total transaction of $947,323.83. Following the completion of the transaction, the director now owns 1,003 shares in the company, valued at $210,539.73. This represents a 81.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,999 shares of company stock valued at $17,822,987 over the last 90 days. 21.91% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PCTY has been the subject of several analyst reports. UBS Group boosted their target price on shares of Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Piper Sandler reissued an “overweight” rating and set a $254.00 price objective (up previously from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. Citigroup raised shares of Paylocity from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $214.00 to $231.00 in a research note on Thursday, January 16th. JMP Securities increased their price target on Paylocity from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research note on Friday, February 7th. Finally, KeyCorp lifted their price objective on Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $233.25.

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.