Peterson Wealth Services Purchases 261 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Peterson Wealth Services boosted its position in Paylocity Holding Co. (NASDAQ:PCTY) by 5.5% in the 4th quarter, Holdings Channel reports. The firm owned 4,999 shares of the software maker’s stock after buying an additional 261 shares during the quarter. Peterson Wealth Services’ holdings in Paylocity were worth $997,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Summit Trail Advisors LLC bought a new stake in shares of Paylocity during the 4th quarter worth approximately $400,000. Burns Matteson Capital Management LLC bought a new stake in shares of Paylocity during the fourth quarter worth $421,000. Entropy Technologies LP boosted its stake in shares of Paylocity by 249.3% during the fourth quarter. Entropy Technologies LP now owns 4,300 shares of the software maker’s stock valued at $858,000 after purchasing an additional 3,069 shares during the period. Empowered Funds LLC grew its holdings in shares of Paylocity by 31.6% in the fourth quarter. Empowered Funds LLC now owns 11,571 shares of the software maker’s stock worth $2,308,000 after purchasing an additional 2,776 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Paylocity in the fourth quarter worth about $2,213,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

PCTY has been the topic of a number of research reports. KeyCorp raised their target price on shares of Paylocity from $220.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group raised their price objective on Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday. Mizuho upgraded Paylocity from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $200.00 to $235.00 in a report on Friday, January 31st. TD Cowen lowered their price objective on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Stifel Nicolaus raised their target price on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Friday. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Paylocity has an average rating of “Moderate Buy” and a consensus target price of $233.25.

Insider Activity at Paylocity

In other Paylocity news, CAO Nicholas Rost sold 212 shares of Paylocity stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total transaction of $40,977.48. Following the completion of the sale, the chief accounting officer now owns 7,364 shares of the company’s stock, valued at approximately $1,423,387.56. The trade was a 2.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey T. Diehl sold 946 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $204.74, for a total value of $193,684.04. Following the completion of the transaction, the director now directly owns 1,767 shares in the company, valued at $361,775.58. This represents a 34.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,380 shares of company stock valued at $25,830,669 in the last three months. 21.91% of the stock is owned by insiders.

Paylocity Stock Performance

Shares of PCTY stock opened at $211.61 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.29. The company has a market cap of $11.80 billion, a PE ratio of 54.26, a PEG ratio of 5.19 and a beta of 0.95. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80. The business’s fifty day simple moving average is $201.28 and its 200-day simple moving average is $181.70.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.93%. Analysts expect that Paylocity Holding Co. will post 4.46 earnings per share for the current fiscal 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.