JPMorgan Chase & Co. Boosts Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

JPMorgan Chase & Co. lifted its position in Paylocity Holding Co. (NASDAQ:PCTY) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 863,787 shares of the software maker’s stock after purchasing an additional 7,251 shares during the quarter. JPMorgan Chase & Co. owned about 1.55% of Paylocity worth $172,300,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position 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 worth $803,745,000 after purchasing an additional 46,183 shares during the last quarter. Geode Capital Management LLC increased its stake in Paylocity by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock worth $173,053,000 after buying an additional 36,590 shares during the period. Janus Henderson Group PLC increased its position in shares of Paylocity by 3.5% during the third quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker’s stock worth $85,444,000 after acquiring an additional 17,560 shares during the period. GW&K Investment Management LLC increased its holdings in Paylocity by 0.6% during the 4th quarter. GW&K Investment Management LLC now owns 381,010 shares of the software maker’s stock worth $76,000,000 after purchasing an additional 2,193 shares during the period. Finally, American Century Companies Inc. increased 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 buying an additional 229,179 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analysts Set New Price Targets

PCTY has been the topic of several recent analyst reports. JMP Securities increased their target price on Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a report on Friday, February 7th. Jefferies Financial Group raised their price objective on Paylocity from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Stifel Nicolaus boosted their target price on Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 7th. Barclays raised their price target on Paylocity from $214.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Finally, Mizuho raised Paylocity from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $200.00 to $235.00 in a report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $233.25.

Insider Buying and Selling

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.91, for a total value of $5,116,777.32. Following the sale, the director now owns 420,000 shares of the company’s stock, valued at approximately $81,862,200. This represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 21.91% of the company’s stock.

Paylocity Stock Up 1.3 %

Paylocity stock opened at $189.83 on Wednesday. The stock’s 50 day moving average price is $200.85 and its 200 day moving average price is $193.17. The company has a market cap of $10.61 billion, a PE ratio of 48.67, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. 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 posted its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share 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%. On average, sell-side analysts predict that Paylocity Holding Co. will post 4.36 EPS 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.