ExodusPoint Capital Management LP Grows Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

ExodusPoint Capital Management LP grew its position in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 470.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,101 shares of the software maker’s stock after purchasing an additional 13,280 shares during the period. ExodusPoint Capital Management LP’s holdings in Paylocity were worth $3,212,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in Paylocity by 81.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock worth $141,303,000 after buying an additional 385,625 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Paylocity by 190.0% during the fourth quarter. American Century Companies Inc. now owns 349,797 shares of the software maker’s stock worth $69,774,000 after acquiring an additional 229,179 shares in the last quarter. Trillium Asset Management LLC lifted its holdings in shares of Paylocity by 194.7% in the 4th 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. Norges Bank purchased a new stake in shares of Paylocity in the 4th quarter valued at $12,131,000. Finally, Vanguard Group Inc. grew its holdings in shares of Paylocity by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker’s stock valued at $803,745,000 after purchasing an additional 46,183 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Steven I. Sarowitz sold 23,243 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $191.00, for a total transaction of $4,439,413.00. Following the completion of the transaction, the director now owns 470,452 shares of the company’s stock, valued at $89,856,332. This trade represents a 4.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.91% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays upped their price target on shares of Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Citigroup upgraded Paylocity from a “neutral” rating to a “buy” rating and raised their price target for the stock from $214.00 to $231.00 in a research report on Thursday, January 16th. TD Cowen lowered their price objective on Paylocity from $235.00 to $228.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Raymond James reissued an “outperform” rating and set a $265.00 price objective (up previously from $215.00) on shares of Paylocity in a research note on Friday, February 7th. Finally, Jefferies Financial Group lifted their target price on shares of Paylocity from $240.00 to $255.00 and gave the stock a “buy” rating in a research note 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $233.25.

Paylocity Stock Performance

Paylocity stock opened at $174.88 on Monday. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. The stock’s 50 day simple moving average is $199.66 and its two-hundred day simple moving average is $193.65. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. The stock 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 (NASDAQ:PCTY) last released its quarterly 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 expect that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

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.