New Age Alpha Advisors LLC Takes $1.92 Million Position in Paylocity Holding Co. (NASDAQ:PCTY)

New Age Alpha Advisors LLC purchased a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,622 shares of the software maker’s stock, valued at approximately $1,919,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PCTY. Certuity LLC purchased a new stake in shares of Paylocity during the 4th quarter worth about $232,000. Edgestream Partners L.P. grew its holdings in Paylocity by 222.3% in the third quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock valued at $1,788,000 after purchasing an additional 7,475 shares during the period. Barclays PLC increased its position in shares of Paylocity by 14.3% in the third 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. Nisa Investment Advisors LLC raised its stake in shares of Paylocity by 5,742.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker’s stock worth $1,165,000 after buying an additional 5,742 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Paylocity by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker’s stock valued at $46,592,000 after buying an additional 4,697 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on PCTY shares. Jefferies Financial Group boosted their price target on shares of Paylocity from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Stifel Nicolaus upped their price target on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Citigroup upgraded Paylocity from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $214.00 to $231.00 in a report on Thursday, January 16th. Barclays increased their target price on Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Finally, KeyCorp lifted their price target on Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $233.25.

Insider Activity

In related news, Director Steven I. Sarowitz sold 23,243 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $191.00, for a total value of $4,439,413.00. Following the sale, the director now directly owns 470,452 shares in the company, valued at approximately $89,856,332. The trade was a 4.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 21.91% of the company’s stock.

Paylocity Price Performance

Paylocity stock opened at $186.33 on Monday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. The stock has a market cap of $10.41 billion, a P/E ratio of 47.78, a PEG ratio of 4.49 and a beta of 0.94. The company has a 50-day moving average price of $201.20 and a 200 day moving average price of $192.73. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80.

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