Bryce Point Capital LLC Takes $1.39 Million Position in Paylocity Holding Co. (NASDAQ:PCTY)

Bryce Point Capital LLC purchased a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 6,946 shares of the software maker’s stock, valued at approximately $1,386,000.

A number of other hedge funds have also added to or reduced their stakes in PCTY. JPMorgan Chase & Co. boosted its holdings in shares of Paylocity by 81.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock valued at $141,303,000 after purchasing an additional 385,625 shares in the last quarter. American Century Companies Inc. boosted its stake in Paylocity by 190.0% in the fourth quarter. American Century Companies Inc. now owns 349,797 shares of the software maker’s stock valued at $69,774,000 after buying an additional 229,179 shares in the last quarter. Point72 Asset Management L.P. raised its stake in Paylocity by 283.8% during the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock worth $51,101,000 after acquiring an additional 229,057 shares in the last quarter. Trillium Asset Management LLC lifted its holdings in shares of Paylocity by 194.7% in the fourth quarter. Trillium Asset Management LLC now owns 99,706 shares of the software maker’s stock worth $19,888,000 after acquiring an additional 65,869 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Paylocity in the 4th quarter valued at approximately $12,131,000. 94.76% of the stock is owned by institutional investors.

Paylocity Stock Up 1.3 %

Shares of NASDAQ:PCTY opened at $189.83 on Wednesday. The company has a market capitalization of $10.61 billion, a price-to-earnings ratio of 48.67, a P/E/G ratio of 4.49 and a beta of 0.94. The business’s 50-day moving average is $200.85 and its 200-day moving average is $193.17. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80.

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 analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. Equities research analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Insider Buying and Selling at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of Paylocity stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the transaction, the director now directly owns 420,000 shares of the company’s stock, valued at $81,862,200. The trade was a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 21.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PCTY shares. TD Cowen dropped 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. UBS Group upped their target price on Paylocity from $211.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. KeyCorp lifted their price target on Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Citigroup raised Paylocity from a “neutral” rating to a “buy” rating and upped their price objective for the company from $214.00 to $231.00 in a research note on Thursday, January 16th. Finally, Mizuho upgraded shares of Paylocity from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $200.00 to $235.00 in a report on Friday, January 31st. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.