Signaturefd LLC Boosts Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Signaturefd LLC boosted its position in Paylocity Holding Co. (NASDAQ:PCTY) by 121.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 305 shares of the software maker’s stock after buying an additional 167 shares during the period. Signaturefd LLC’s holdings in Paylocity were worth $50,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FORA Capital LLC purchased a new position in Paylocity in the 1st quarter valued at $1,540,000. BNP Paribas Financial Markets boosted its position in shares of Paylocity by 55.2% during the 1st quarter. BNP Paribas Financial Markets now owns 36,818 shares of the software maker’s stock worth $6,328,000 after purchasing an additional 13,093 shares in the last quarter. Cetera Advisors LLC purchased a new stake in shares of Paylocity during the 1st quarter worth $729,000. Price T Rowe Associates Inc. MD boosted its position in shares of Paylocity by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,833,794 shares of the software maker’s stock worth $1,518,176,000 after purchasing an additional 278,607 shares in the last quarter. Finally, Capital Research Global Investors purchased a new stake in shares of Paylocity during the 1st quarter worth $46,902,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Paylocity Trading Up 0.5 %

Shares of PCTY stock opened at $175.97 on Wednesday. The firm has a 50-day moving average price of $163.39 and a 200 day moving average price of $154.48. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $184.77. The company has a market capitalization of $9.81 billion, a price-to-earnings ratio of 48.34, a PEG ratio of 4.20 and a beta of 0.95.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings data on Thursday, August 1st. The software maker reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.19. Paylocity had a net margin of 14.74% and a return on equity of 22.17%. The company had revenue of $357.30 million during the quarter, compared to the consensus estimate of $350.29 million. During the same quarter in the prior year, the company posted $0.76 EPS. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, research analysts predict that Paylocity Holding Co. will post 4.51 earnings per share for the current year.

Insider Activity

In other news, SVP Rachit Lohani sold 658 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total transaction of $107,142.14. Following the completion of the transaction, the senior vice president now owns 39,764 shares of the company’s stock, valued at $6,474,772.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 21.91% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on PCTY shares. BTIG Research decreased their target price on shares of Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. JMP Securities restated a “market outperform” rating and set a $250.00 target price on shares of Paylocity in a research report on Monday, August 5th. KeyCorp boosted their price objective on shares of Paylocity from $182.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Needham & Company LLC reiterated a “buy” rating and issued a $200.00 price objective on shares of Paylocity in a research report on Thursday, October 17th. Finally, Jefferies Financial Group upgraded shares of Paylocity from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $200.00 in a research report on Tuesday, October 22nd. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Paylocity has an average rating of “Moderate Buy” and a consensus target price of $184.71.

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.