Prelude Capital Management LLC Acquires Shares of 1,517 Paylocity Holding Co. (NASDAQ:PCTY)

Prelude Capital Management LLC purchased a new stake in Paylocity Holding Co. (NASDAQ:PCTY) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,517 shares of the software maker’s stock, valued at approximately $302,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PCTY. HighTower Advisors LLC increased its stake in shares of Paylocity by 12.9% in the 1st quarter. HighTower Advisors LLC now owns 5,798 shares of the software maker’s stock valued at $1,172,000 after purchasing an additional 664 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Paylocity in the 1st quarter valued at $14,007,000. Sei Investments Co. increased its stake in shares of Paylocity by 1.3% in the 1st quarter. Sei Investments Co. now owns 66,053 shares of the software maker’s stock valued at $13,594,000 after purchasing an additional 876 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Paylocity in the 1st quarter valued at $144,000. Finally, Covestor Ltd increased its stake in shares of Paylocity by 88.1% in the 1st quarter. Covestor Ltd now owns 331 shares of the software maker’s stock valued at $68,000 after purchasing an additional 155 shares during the last quarter. Institutional investors own 73.65% of the company’s stock.

Insider Activity

In other news, CAO Nicholas Rost sold 430 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $194.99, for a total value of $83,845.70. Following the transaction, the chief accounting officer now directly owns 5,590 shares of the company’s stock, valued at approximately $1,089,994.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Steven I. Sarowitz sold 19,809 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $192.92, for a total value of $3,821,552.28. Following the transaction, the director now directly owns 10,003,975 shares of the company’s stock, valued at approximately $1,929,966,857. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Nicholas Rost sold 430 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $194.99, for a total value of $83,845.70. Following the completion of the transaction, the chief accounting officer now directly owns 5,590 shares in the company, valued at $1,089,994.10. The disclosure for this sale can be found here. Insiders have sold 174,074 shares of company stock valued at $34,320,823 in the last ninety days. 26.50% of the stock is owned by company insiders.

Paylocity Trading Down 2.2 %

NASDAQ PCTY opened at $188.78 on Tuesday. The business’s 50-day moving average price is $205.73 and its two-hundred day moving average price is $191.23. Paylocity Holding Co. has a 12 month low of $160.00 and a 12 month high of $269.34. The firm has a market capitalization of $10.56 billion, a PE ratio of 75.51 and a beta of 1.09.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.15. The firm had revenue of $308.45 million for the quarter, compared to analyst estimates of $301.43 million. Paylocity had a return on equity of 21.89% and a net margin of 11.99%. As a group, analysts forecast that Paylocity Holding Co. will post 3.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PCTY shares. Barclays lifted their price target on Paylocity from $204.00 to $213.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th. BMO Capital Markets boosted their price objective on Paylocity from $230.00 to $246.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Needham & Company LLC restated a “buy” rating and set a $325.00 price objective on shares of Paylocity in a research report on Friday, August 4th. StockNews.com started coverage on Paylocity in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Mizuho restated a “neutral” rating and set a $225.00 price objective on shares of Paylocity in a research report on Wednesday, August 23rd. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $260.79.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.