ExodusPoint Capital Management LP Acquires 13,280 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

ExodusPoint Capital Management LP grew its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 470.8% in the fourth quarter, Holdings Channel reports. The firm owned 16,101 shares of the software maker’s stock after buying an additional 13,280 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Paylocity were worth $3,212,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Bryce Point Capital LLC bought a new stake in shares of Paylocity in the fourth quarter worth approximately $1,386,000. Huntington National Bank boosted its holdings in Paylocity by 37.3% in the fourth quarter. Huntington National Bank now owns 431 shares of the software maker’s stock worth $86,000 after purchasing an additional 117 shares during the last quarter. Geode Capital Management LLC grew its position in Paylocity by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 1,073,988 shares of the software maker’s stock worth $214,275,000 after purchasing an additional 25,182 shares during the period. HighPoint Advisor Group LLC raised its stake in Paylocity by 5.1% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,559 shares of the software maker’s stock valued at $326,000 after buying an additional 75 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Paylocity by 11.4% during the 4th quarter. Franklin Resources Inc. now owns 1,710 shares of the software maker’s stock valued at $341,000 after buying an additional 175 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PCTY. Raymond James reiterated an “outperform” rating and set a $265.00 price objective (up previously from $215.00) on shares of Paylocity in a research report on Friday, February 7th. TD Cowen lowered their price objective 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. Barclays raised their price objective on shares of Paylocity from $214.00 to $231.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. JMP Securities upped their target price on shares of Paylocity from $250.00 to $270.00 and gave the company a “market outperform” rating in a report on Friday, February 7th. Finally, KeyCorp lifted their price target on shares of Paylocity from $220.00 to $250.00 and gave the stock 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $233.25.

Paylocity Price Performance

Shares of Paylocity stock opened at $174.88 on Monday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $223.80. The stock has a 50 day moving average of $199.66 and a 200 day moving average of $193.65. The firm has a market cap of $9.77 billion, a PE ratio of 44.84, a PEG ratio of 4.49 and a beta of 0.76.

Paylocity (NASDAQ:PCTY) last posted its 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 net margin of 14.76% and a return on equity of 22.45%. On average, research analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Insider Activity

In other Paylocity news, Director Steven I. Sarowitz sold 23,243 shares of the business’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 sale, the director now directly owns 470,452 shares of the company’s stock, valued at $89,856,332. The trade was a 4.71 % decrease in their ownership of the stock. The sale 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.

Paylocity 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.