Amalgamated Bank Purchases New Holdings in Paylocity Holding Corp (PCTY)

Amalgamated Bank purchased a new stake in Paylocity Holding Corp (NASDAQ:PCTY) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 4,225 shares of the software maker’s stock, valued at approximately $254,000.

Other institutional investors have also recently bought and sold shares of the company. FTB Advisors Inc. boosted its holdings in Paylocity by 25.1% during the fourth quarter. FTB Advisors Inc. now owns 642 shares of the software maker’s stock worth $38,000 after buying an additional 129 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in shares of Paylocity by 34.8% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 774 shares of the software maker’s stock worth $47,000 after purchasing an additional 200 shares during the period. OLD National Bancorp IN raised its position in shares of Paylocity by 7.0% during the fourth quarter. OLD National Bancorp IN now owns 4,048 shares of the software maker’s stock worth $244,000 after purchasing an additional 266 shares during the period. Renaissance Group LLC raised its position in shares of Paylocity by 4.3% during the fourth quarter. Renaissance Group LLC now owns 8,360 shares of the software maker’s stock worth $503,000 after purchasing an additional 342 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Paylocity by 23.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,141 shares of the software maker’s stock worth $129,000 after purchasing an additional 407 shares during the period. Institutional investors and hedge funds own 65.16% of the company’s stock.

Shares of Paylocity stock opened at $89.35 on Tuesday. Paylocity Holding Corp has a 52-week low of $51.18 and a 52-week high of $92.50. The company has a market capitalization of $4.71 billion, a P/E ratio of 288.23, a PEG ratio of 8.00 and a beta of 2.09.



Paylocity (NASDAQ:PCTY) last announced its earnings results on Wednesday, February 6th. The software maker reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.11). Paylocity had a net margin of 12.81% and a return on equity of 13.43%. The firm had revenue of $107.20 million during the quarter, compared to analyst estimates of $104.68 million. During the same period in the prior year, the business posted $0.16 EPS. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. Equities analysts expect that Paylocity Holding Corp will post 0.54 earnings per share for the current year.

A number of equities research analysts have recently commented on the company. Zacks Investment Research lowered Paylocity from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. ValuEngine lowered Paylocity from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. Jefferies Financial Group lifted their target price on Paylocity to $85.00 and gave the company a “hold” rating in a research report on Thursday, February 7th. JMP Securities lifted their target price on Paylocity from $77.00 to $89.00 and gave the company an “outperform” rating in a research report on Thursday, February 7th. Finally, Raymond James lifted their target price on Paylocity from $75.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, February 7th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $79.93.

In other Paylocity news, SVP Edward W. Gaty sold 11,281 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $87.00, for a total value of $981,447.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael R. Haske sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $86.34, for a total value of $4,317,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 882,481 shares of company stock valued at $75,511,619. Corporate insiders own 41.20% of the company’s stock.

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About Paylocity

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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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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