Huntington National Bank Boosts Stake in Paylocity Holding Co. (NASDAQ:PCTY)

Huntington National Bank grew its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 37.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 431 shares of the software maker’s stock after acquiring an additional 117 shares during the quarter. Huntington National Bank’s holdings in Paylocity were worth $86,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Certuity LLC acquired a new stake in Paylocity during the 4th quarter worth approximately $232,000. 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 worth $7,407,000 after acquiring an additional 5,609 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Paylocity by 5,742.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker’s stock valued at $1,165,000 after acquiring an additional 5,742 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Paylocity by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock valued at $173,053,000 after acquiring an additional 36,590 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its position in Paylocity by 63.3% during the 4th quarter. Park Avenue Securities LLC now owns 5,590 shares of the software maker’s stock worth $1,115,000 after purchasing an additional 2,167 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Paylocity Price Performance

Shares of PCTY opened at $174.88 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 firm has a market cap of $9.77 billion, a price-to-earnings ratio of 44.84, a PEG ratio of 4.49 and a beta of 0.76. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80. The stock has a 50 day moving average of $199.66 and a 200-day moving average of $193.65.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share 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%. As a group, analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current year.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 23,243 shares of the stock in a transaction on Thursday, March 20th. The stock was 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 of the company’s stock, valued at $89,856,332. This trade represents a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 21.91% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on PCTY shares. Stifel Nicolaus raised their price objective on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, February 7th. TD Cowen reduced their price target on Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Raymond James reaffirmed an “outperform” rating and issued a $265.00 price objective (up previously from $215.00) on shares of Paylocity in a research report on Friday, February 7th. UBS Group boosted their target price on shares of Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, Needham & Company LLC raised their price target on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $233.25.

Paylocity Company 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.