J2 Capital Management Inc Acquires Shares of 2,063 Paylocity Holding Co. (NASDAQ:PCTY)

J2 Capital Management Inc acquired a new stake in Paylocity Holding Co. (NASDAQ:PCTY) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,063 shares of the software maker’s stock, valued at approximately $386,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Paylocity by 0.5% during the fourth 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 purchasing an additional 49 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Paylocity by 0.3% during the fourth quarter. Bessemer Group Inc. now owns 19,118 shares of the software maker’s stock worth $3,813,000 after purchasing an additional 51 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Paylocity by 29.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock worth $55,000 after purchasing an additional 63 shares in the last quarter. HighPoint Advisor Group LLC increased its stake in shares of Paylocity by 5.1% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,559 shares of the software maker’s stock worth $326,000 after purchasing an additional 75 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Paylocity by 2.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,156 shares of the software maker’s stock worth $630,000 after purchasing an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 420,000 shares of the company’s stock, valued at approximately $81,862,200. This represents a 5.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 21.91% of the stock is owned by company insiders.

Paylocity Stock Performance

Shares of PCTY stock opened at $189.88 on Friday. The firm’s 50 day moving average price is $189.49 and its 200-day moving average price is $197.45. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $223.80. The firm has a market cap of $10.49 billion, a P/E ratio of 48.69, a P/E/G ratio of 4.49 and a beta of 0.58.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, topping the consensus estimate of $2.09 by $0.34. Paylocity had a net margin of 14.76% and a return on equity of 22.45%. The firm had revenue of $454.55 million for the quarter, compared to analyst estimates of $441.77 million. During the same period in the prior year, the business posted $2.21 EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities research analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on PCTY shares. JMP Securities reissued a “market outperform” rating and set a $270.00 target price on shares of Paylocity in a research note on Tuesday, April 29th. Jefferies Financial Group dropped their price objective on shares of Paylocity from $255.00 to $235.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Wall Street Zen raised shares of Paylocity from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. BMO Capital Markets upped their price objective on shares of Paylocity from $210.00 to $226.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Finally, Barclays upped their price objective on shares of Paylocity from $204.00 to $209.00 and gave the company an “equal weight” rating 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.00.

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.