Sei Investments Co. Raises Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Sei Investments Co. increased its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 9.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 189,565 shares of the software maker’s stock after purchasing an additional 17,076 shares during the period. Sei Investments Co.’s holdings in Paylocity were worth $37,814,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in shares of Paylocity by 3.6% during the third 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. lifted its position in Paylocity by 81.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock worth $141,303,000 after acquiring an additional 385,625 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Paylocity by 3.5% in the 3rd quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock worth $85,444,000 after acquiring an additional 17,560 shares during the period. GW&K Investment Management LLC grew its position in Paylocity by 0.6% in the fourth quarter. GW&K Investment Management LLC now owns 381,010 shares of the software maker’s stock valued at $76,000,000 after acquiring an additional 2,193 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Paylocity by 190.0% during the fourth quarter. American Century Companies Inc. now owns 349,797 shares of the software maker’s stock valued at $69,774,000 after purchasing an additional 229,179 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Paylocity news, Director Steven I. Sarowitz sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $200.14, for a total value of $520,364.00. Following the completion of the sale, the director now directly owns 8,332,347 shares in the company, valued at $1,667,635,928.58. This represents a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 28,926 shares of company stock worth $5,578,628 over the last three months. Corporate insiders own 21.91% of the company’s stock.

Paylocity Stock Up 2.2 %

PCTY opened at $196.16 on Tuesday. 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 12 month low of $129.94 and a 12 month high of $223.80. The stock’s 50 day moving average price is $201.56 and its 200 day moving average price is $191.74. The stock has a market cap of $10.96 billion, a P/E ratio of 50.30, a P/E/G ratio of 4.49 and a beta of 0.94.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share 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%. As a group, research analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

PCTY has been the subject of a number of recent analyst reports. Citigroup raised shares of Paylocity from a “neutral” rating to a “buy” rating and raised their price target for the company from $214.00 to $231.00 in a report on Thursday, January 16th. Stifel Nicolaus raised their target price on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 7th. TD Cowen cut their price target on Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Mizuho upgraded Paylocity from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $200.00 to $235.00 in a research note on Friday, January 31st. Finally, Needham & Company LLC upped their target price on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $233.25.

Paylocity Company 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.