GW&K Investment Management LLC Boosts Position in Paylocity Holding Co. (NASDAQ:PCTY)

GW&K Investment Management LLC raised its position in Paylocity Holding Co. (NASDAQ:PCTY) by 0.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 381,010 shares of the software maker’s stock after purchasing an additional 2,193 shares during the period. GW&K Investment Management LLC owned about 0.68% of Paylocity worth $76,000,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in Paylocity by 16,397.9% during the 3rd quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock valued at $1,279,000 after acquiring an additional 7,707 shares in the last quarter. Certuity LLC purchased a new position in shares of Paylocity during the 4th quarter worth approximately $232,000. Edgestream Partners L.P. raised its position in shares of Paylocity by 222.3% during the 3rd quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock worth $1,788,000 after purchasing an additional 7,475 shares during the last quarter. Barclays PLC lifted its stake 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 buying an additional 5,609 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Paylocity by 5,742.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker’s stock valued at $1,165,000 after buying an additional 5,742 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Stock Down 2.1 %

Shares of NASDAQ:PCTY opened at $200.40 on Friday. The stock has a 50-day simple moving average of $203.14 and a 200-day simple moving average of $186.90. The stock has a market capitalization of $11.20 billion, a P/E ratio of 51.38, a PEG ratio of 4.49 and a beta of 0.95. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. Equities analysts forecast that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Needham & Company LLC boosted their price target on Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Truist Financial upped their target price on shares of Paylocity from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 1st. StockNews.com cut shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Piper Sandler reissued an “overweight” rating and set a $254.00 price objective (up previously from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. Finally, Barclays lifted their target price on shares of Paylocity from $214.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Paylocity presently has an average rating of “Moderate Buy” and a consensus price target of $233.25.

Insider Activity at Paylocity

In other Paylocity news, CFO Ryan Glenn sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $205.40, for a total value of $534,040.00. Following the completion of the transaction, the chief financial officer now owns 48,150 shares in the company, valued at $9,890,010. This represents a 5.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven I. Sarowitz sold 2,900 shares of Paylocity stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $208.59, for a total transaction of $604,911.00. Following the sale, the director now owns 8,945,315 shares in the company, valued at $1,865,903,255.85. This represents a 0.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 69,349 shares of company stock worth $14,121,177. Corporate insiders own 21.91% of the company’s stock.

About Paylocity

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.