GW&K Investment Management LLC boosted its holdings in shares of Paylocity Holding Corp (NASDAQ:PCTY) by 8.5% during the 3rd quarter, Holdings Channel reports. The firm owned 537,446 shares of the software maker’s stock after buying an additional 42,307 shares during the period. Paylocity comprises about 0.7% of GW&K Investment Management LLC’s portfolio, making the stock its 28th biggest holding. GW&K Investment Management LLC’s holdings in Paylocity were worth $52,444,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in Paylocity by 0.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,586,579 shares of the software maker’s stock valued at $148,853,000 after purchasing an additional 7,130 shares during the period. TimesSquare Capital Management LLC increased its stake in Paylocity by 4.5% in the 2nd quarter. TimesSquare Capital Management LLC now owns 1,476,188 shares of the software maker’s stock worth $138,496,000 after acquiring an additional 63,940 shares during the last quarter. Invesco Ltd. increased its stake in Paylocity by 636.8% in the 2nd quarter. Invesco Ltd. now owns 757,846 shares of the software maker’s stock worth $71,101,000 after acquiring an additional 654,996 shares during the last quarter. Conestoga Capital Advisors LLC increased its stake in Paylocity by 14.6% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 691,356 shares of the software maker’s stock worth $67,463,000 after acquiring an additional 87,955 shares during the last quarter. Finally, Macquarie Group Ltd. increased its stake in Paylocity by 2.8% in the 2nd quarter. Macquarie Group Ltd. now owns 408,752 shares of the software maker’s stock worth $38,349,000 after acquiring an additional 11,308 shares during the last quarter. 64.97% of the stock is currently owned by institutional investors.
In related news, COO Michael R. Haske sold 50,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $105.78, for a total transaction of $5,289,000.00. Following the transaction, the chief operating officer now directly owns 800,195 shares of the company’s stock, valued at approximately $84,644,627.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark S. Kinsey sold 635 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $103.34, for a total value of $65,620.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 262,076 shares of company stock valued at $26,692,978. Corporate insiders own 37.80% of the company’s stock.
A number of research firms have issued reports on PCTY. JMP Securities lifted their price objective on Paylocity to $115.00 and gave the stock a “market perform” rating in a research note on Monday, July 22nd. ValuEngine raised Paylocity from a “sell” rating to a “hold” rating in a research note on Wednesday. BidaskClub downgraded Paylocity from a “buy” rating to a “hold” rating in a research note on Saturday, October 19th. Citigroup began coverage on Paylocity in a research note on Friday, October 25th. They issued a “neutral” rating and a $105.00 price objective on the stock. Finally, Royal Bank of Canada lifted their price objective on Paylocity from $107.00 to $108.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Paylocity currently has a consensus rating of “Hold” and a consensus target price of $109.62.
Shares of NASDAQ PCTY traded up $2.10 during trading hours on Friday, hitting $106.07. 283,300 shares of the company traded hands, compared to its average volume of 334,047. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 98.21, a price-to-earnings-growth ratio of 4.85 and a beta of 1.53. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.25. Paylocity Holding Corp has a 12 month low of $53.46 and a 12 month high of $112.46. The company’s 50 day moving average price is $98.98 and its 200 day moving average price is $100.17.
Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Wednesday, October 30th. The software maker reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.25. The firm had revenue of $126.72 million during the quarter, compared to analyst estimates of $124.15 million. Paylocity had a return on equity of 19.03% and a net margin of 11.78%. The business’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 EPS. Equities analysts anticipate that Paylocity Holding Corp will post 1.06 EPS for the current year.
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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