Prudential Financial Inc. Invests $267,000 in Paylocity Holding Corp (PCTY) Stock

Prudential Financial Inc. purchased a new stake in shares of Paylocity Holding Corp (NASDAQ:PCTY) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 5,470 shares of the software maker’s stock, valued at approximately $267,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ameritas Investment Partners Inc. lifted its position in Paylocity by 22.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,282 shares of the software maker’s stock valued at $103,000 after acquiring an additional 421 shares during the period. BNP Paribas Arbitrage SA lifted its position in Paylocity by 562.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,293 shares of the software maker’s stock valued at $149,000 after acquiring an additional 2,796 shares during the period. Bank of Montreal Can lifted its position in Paylocity by 1.2% during the 2nd quarter. Bank of Montreal Can now owns 3,419 shares of the software maker’s stock valued at $154,000 after acquiring an additional 42 shares during the period. Turner Investments LLC purchased a new position in Paylocity during the 2nd quarter valued at about $158,000. Finally, Nomura Holdings Inc. purchased a new position in Paylocity during the 2nd quarter valued at about $208,000. 59.84% of the stock is owned by institutional investors.

Paylocity Holding Corp (PCTY) opened at $46.66 on Tuesday. Paylocity Holding Corp has a twelve month low of $29.69 and a twelve month high of $53.96. The firm has a market cap of $2,380.06, a P/E ratio of 206.00, a PEG ratio of 5.95 and a beta of 2.11.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings data on Thursday, November 2nd. The software maker reported $0.15 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.17. Paylocity had a net margin of 3.11% and a return on equity of 7.98%. The firm had revenue of $81.50 million during the quarter, compared to analysts’ expectations of $80.88 million. During the same period in the previous year, the company earned $0.07 earnings per share. The firm’s quarterly revenue was up 25.4% on a year-over-year basis. analysts anticipate that Paylocity Holding Corp will post 0.32 EPS for the current fiscal year.

Several brokerages have issued reports on PCTY. SunTrust Banks reaffirmed a “hold” rating and issued a $47.00 target price on shares of Paylocity in a report on Friday, November 3rd. TheStreet raised shares of Paylocity from a “c” rating to a “b-” rating in a report on Friday, November 3rd. Bank of America lifted their target price on shares of Paylocity from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, October 24th. Northland Securities reaffirmed a “buy” rating and issued a $55.00 target price on shares of Paylocity in a report on Sunday, September 10th. Finally, Robert W. Baird lifted their target price on shares of Paylocity from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Paylocity has an average rating of “Buy” and a consensus target price of $52.92.

In other news, SVP Edward W. Gaty sold 5,062 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $45.82, for a total transaction of $231,940.84. Following the completion of the transaction, the senior vice president now directly owns 116,135 shares of the company’s stock, valued at $5,321,305.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven R. Beauchamp sold 5,470 shares of the business’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $50.09, for a total transaction of $273,992.30. The disclosure for this sale can be found here. Insiders have sold 1,429,734 shares of company stock valued at $66,231,695 over the last three months. 48.80% of the stock is owned by corporate insiders.

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Paylocity Company Profile

Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Company’s services are provided in a software-as-a-service delivery model utilizing its cloud-based platform. The cloud-based platform provides a suite of applications using a multi-tenant architecture.

Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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