Polen Capital Management LLC Boosts Stock Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Polen Capital Management LLC boosted its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 23.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 28,689 shares of the software maker’s stock after acquiring an additional 5,357 shares during the period. Polen Capital Management LLC’s holdings in Paylocity were worth $5,723,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in Paylocity by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker’s stock worth $173,053,000 after purchasing an additional 36,590 shares during the period. JPMorgan Chase & Co. raised its stake in Paylocity by 81.9% during the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock worth $141,303,000 after purchasing an additional 385,625 shares during the period. Janus Henderson Group PLC raised its stake in 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 purchasing an additional 17,560 shares during the period. GW&K Investment Management LLC raised its stake in Paylocity by 0.6% during the fourth 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, 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 purchasing an additional 229,057 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Price Performance

Shares of PCTY stock opened at $186.24 on Monday. The firm has a market cap of $10.41 billion, a P/E ratio of 47.75, a P/E/G 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. The firm has a fifty day moving average of $201.95 and a two-hundred day moving average of $190.43.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data 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 return on equity of 22.45% and a net margin of 14.76%. As a group, research analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Steven I. Sarowitz sold 2,600 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $200.14, for a total transaction of $520,364.00. Following the completion of the sale, the director now owns 8,332,347 shares of the company’s stock, valued at $1,667,635,928.58. This represents a 0.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 18,566 shares of company stock valued at $3,755,321. Company insiders own 21.91% of the company’s stock.

Wall Street Analyst Weigh In

PCTY has been the topic of a number of research reports. JMP Securities raised their target price on shares of Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. Barclays raised their target price on shares of Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. TD Cowen cut their target price on shares of Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. UBS Group raised their target price on shares of Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, KeyCorp raised their target price on shares of Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Paylocity currently has an average rating of “Moderate Buy” and a consensus target price of $233.25.

About Paylocity

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.