Sone Capital Management LLC Acquires Shares of 9,765 Paylocity Holding Co. (NASDAQ:PCTY)

Sone Capital Management LLC acquired a new stake in Paylocity Holding Co. (NASDAQ:PCTY) during the fourth quarter, Holdings Channel reports. The fund acquired 9,765 shares of the software maker’s stock, valued at approximately $1,948,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PCTY. Barclays PLC lifted its holdings in Paylocity by 14.3% in the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock valued at $7,407,000 after purchasing an additional 5,609 shares in the last quarter. Park Avenue Securities LLC raised its holdings in shares of Paylocity by 63.3% during the 4th quarter. Park Avenue Securities LLC now owns 5,590 shares of the software maker’s stock worth $1,115,000 after acquiring an additional 2,167 shares during the period. Merit Financial Group LLC raised its holdings in shares of Paylocity by 4.7% during the 4th quarter. Merit Financial Group LLC now owns 26,827 shares of the software maker’s stock worth $5,351,000 after acquiring an additional 1,209 shares during the period. Kera Capital Partners Inc. purchased a new position in shares of Paylocity during the 4th quarter worth $226,000. Finally, UMB Bank n.a. raised its holdings in shares of Paylocity by 41.1% during the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock worth $49,000 after acquiring an additional 72 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Insider Transactions at Paylocity

In other news, Director Steven I. Sarowitz sold 26,252 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the completion of the transaction, the director now directly owns 420,000 shares of the company’s stock, 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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 21.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PCTY. StockNews.com upgraded Paylocity from a “hold” rating to a “buy” rating in a report on Monday, May 12th. KeyCorp reduced their price target on Paylocity from $250.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Scotiabank began coverage on shares of Paylocity in a report on Wednesday, April 16th. They issued a “sector perform” rating and a $190.00 price objective on the stock. Jefferies Financial Group reduced their price objective on shares of Paylocity from $255.00 to $235.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Finally, UBS Group boosted their price objective on shares of Paylocity from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Paylocity currently has a consensus rating of “Moderate Buy” and an average price target of $223.00.

Paylocity Stock Performance

NASDAQ PCTY opened at $201.04 on Monday. The company has a market cap of $11.10 billion, a P/E ratio of 51.55, a P/E/G 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. The stock has a 50-day moving average of $188.32 and a two-hundred day moving average of $197.76. 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 earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.34. Paylocity had a return on equity of 22.45% and a net margin of 14.76%. The company had revenue of $454.55 million during the quarter, compared to the consensus estimate of $441.77 million. During the same period in the previous year, the company posted $2.21 EPS. Paylocity’s revenue was up 13.3% compared to the same quarter last year. As a group, analysts anticipate that Paylocity Holding Co. will post 4.36 EPS 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.