6,084 Shares in Paylocity Holding Corporation $PCTY Acquired by M&T Bank Corp

M&T Bank Corp bought a new position in Paylocity Holding Corporation (NASDAQ:PCTY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,084 shares of the software maker’s stock, valued at approximately $928,000.

Several other hedge funds have also modified their holdings of the stock. Federated Hermes Inc. boosted its position in shares of Paylocity by 1.6% in the third quarter. Federated Hermes Inc. now owns 4,848 shares of the software maker’s stock worth $772,000 after acquiring an additional 78 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Paylocity by 2.5% in the third quarter. PNC Financial Services Group Inc. now owns 3,313 shares of the software maker’s stock worth $528,000 after acquiring an additional 81 shares during the last quarter. MGO One Seven LLC lifted its position in Paylocity by 4.7% during the third quarter. MGO One Seven LLC now owns 2,010 shares of the software maker’s stock valued at $320,000 after buying an additional 90 shares in the last quarter. Securian Asset Management Inc. lifted its position in Paylocity by 3.1% during the third quarter. Securian Asset Management Inc. now owns 3,355 shares of the software maker’s stock valued at $534,000 after buying an additional 100 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Paylocity by 35.0% during the second quarter. Smartleaf Asset Management LLC now owns 428 shares of the software maker’s stock valued at $77,000 after buying an additional 111 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Paylocity Trading Down 2.3%

NASDAQ PCTY opened at $105.49 on Friday. The stock has a market cap of $5.68 billion, a P/E ratio of 24.82, a PEG ratio of 3.12 and a beta of 0.57. The company’s fifty day simple moving average is $106.90 and its 200-day simple moving average is $130.06. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a 52 week low of $92.99 and a 52 week high of $201.97.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, February 5th. The software maker reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.28. The firm had revenue of $416.13 million for the quarter, compared to analysts’ expectations of $408.37 million. Paylocity had a net margin of 14.19% and a return on equity of 23.44%. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.52 earnings per share. Equities research analysts predict that Paylocity Holding Corporation will post 5.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PCTY has been the topic of a number of recent research reports. Stifel Nicolaus reduced their price target on shares of Paylocity from $188.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Jefferies Financial Group reduced their price target on shares of Paylocity from $180.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Paylocity in a research report on Thursday, January 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Paylocity in a research report on Friday, April 24th. Finally, BTIG Research reduced their price target on shares of Paylocity from $180.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Fifteen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $177.21.

Paylocity Company Profile

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.