Marshall Wace LLP lifted its position in Paylocity Holding Corp (NASDAQ:PCTY) by 644.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 589,796 shares of the software maker’s stock after purchasing an additional 510,562 shares during the quarter. Marshall Wace LLP owned 1.12% of Paylocity worth $47,372,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cutler Group LP bought a new stake in shares of Paylocity in the 2nd quarter worth about $100,000. Tower Research Capital LLC TRC bought a new stake in shares of Paylocity in the 2nd quarter worth about $102,000. Acadian Asset Management LLC bought a new stake in shares of Paylocity in the 3rd quarter worth about $143,000. Quantbot Technologies LP bought a new stake in shares of Paylocity in the 3rd quarter worth about $168,000. Finally, NumerixS Investment Technologies Inc grew its holdings in shares of Paylocity by 2,000.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 2,100 shares of the software maker’s stock worth $124,000 after purchasing an additional 2,000 shares during the last quarter. 64.11% of the stock is currently owned by institutional investors and hedge funds.
PCTY has been the topic of several research reports. Raymond James reiterated a “buy” rating and set a $75.00 price target on shares of Paylocity in a research report on Monday, August 13th. BidaskClub downgraded shares of Paylocity from a “hold” rating to a “sell” rating in a research report on Monday, October 15th. Guggenheim initiated coverage on shares of Paylocity in a research report on Monday, August 20th. They set a “buy” rating and a $80.00 price target on the stock. Zacks Investment Research downgraded shares of Paylocity from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, ValuEngine upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a research report on Monday, November 12th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $68.36.
Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, November 1st. The software maker reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Paylocity had a net margin of 12.08% and a return on equity of 12.35%. The company had revenue of $100.50 million for the quarter, compared to the consensus estimate of $98.37 million. During the same period in the prior year, the company posted $0.15 EPS. The company’s revenue was up 23.3% compared to the same quarter last year. On average, research analysts expect that Paylocity Holding Corp will post 0.59 earnings per share for the current fiscal year.
In related news, insider Michael R. Haske sold 25,000 shares of the stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $66.58, for a total value of $1,664,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Edward W. Gaty sold 5,609 shares of the stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $67.65, for a total transaction of $379,448.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 183,109 shares of company stock worth $11,527,499. Corporate insiders own 41.20% of the company’s stock.
Paylocity Company Profile
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.
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