Paylocity Holding Co. (NASDAQ:PCTY) Stake Boosted by Summit Creek Advisors LLC

Summit Creek Advisors LLC grew its stake in shares of Paylocity Holding Co. (NASDAQ:PCTYGet Rating) by 0.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,800 shares of the software maker’s stock after purchasing an additional 294 shares during the quarter. Paylocity makes up 1.6% of Summit Creek Advisors LLC’s portfolio, making the stock its 29th largest holding. Summit Creek Advisors LLC’s holdings in Paylocity were worth $14,569,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Invesco Ltd. grew its holdings in shares of Paylocity by 9.3% during the fourth quarter. Invesco Ltd. now owns 1,145,240 shares of the software maker’s stock valued at $270,460,000 after purchasing an additional 97,679 shares during the last quarter. State Street Corp boosted its position in shares of Paylocity by 3.1% during the fourth quarter. State Street Corp now owns 997,524 shares of the software maker’s stock worth $235,575,000 after buying an additional 29,876 shares during the period. Riverbridge Partners LLC boosted its position in shares of Paylocity by 5.8% during the first quarter. Riverbridge Partners LLC now owns 794,297 shares of the software maker’s stock worth $163,442,000 after buying an additional 43,297 shares during the period. GW&K Investment Management LLC boosted its position in shares of Paylocity by 1.2% during the fourth quarter. GW&K Investment Management LLC now owns 542,975 shares of the software maker’s stock worth $128,229,000 after buying an additional 6,372 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Paylocity by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 542,561 shares of the software maker’s stock worth $128,131,000 after buying an additional 27,309 shares during the period. 69.01% of the stock is owned by institutional investors.

Insider Buying and Selling at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 48,930 shares of the business’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $163.12, for a total transaction of $7,981,461.60. Following the sale, the director now directly owns 11,467,247 shares of the company’s stock, valued at approximately $1,870,537,330.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Steven I. Sarowitz sold 48,930 shares of the company’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $163.12, for a total value of $7,981,461.60. Following the transaction, the director now directly owns 11,467,247 shares of the company’s stock, valued at $1,870,537,330.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael R. Haske sold 33,355 shares of the company’s stock in a transaction on Friday, July 8th. The stock was sold at an average price of $200.00, for a total transaction of $6,671,000.00. Following the completion of the transaction, the chief operating officer now directly owns 775,885 shares in the company, valued at $155,177,000. The disclosure for this sale can be found here. Insiders have sold a total of 133,443 shares of company stock valued at $24,884,062 in the last three months. 28.80% of the stock is currently owned by company insiders.

Paylocity Stock Performance

Shares of NASDAQ:PCTY opened at $255.26 on Friday. The stock has a fifty day moving average of $185.12 and a 200-day moving average of $191.38. Paylocity Holding Co. has a one year low of $152.01 and a one year high of $314.49. The company has a market capitalization of $14.07 billion, a PE ratio of 158.55 and a beta of 1.27.

Paylocity (NASDAQ:PCTYGet Rating) last announced its earnings results on Thursday, August 4th. The software maker reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.28. Paylocity had a net margin of 10.65% and a return on equity of 18.13%. The company had revenue of $228.95 million for the quarter, compared to the consensus estimate of $217.96 million. During the same period in the previous year, the business earned $0.24 EPS. The company’s revenue was up 36.7% on a year-over-year basis. As a group, research analysts forecast that Paylocity Holding Co. will post 1.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PCTY. Cowen boosted their price objective on Paylocity from $240.00 to $265.00 in a research report on Friday. Raymond James boosted their price objective on Paylocity from $245.00 to $265.00 in a research report on Friday. Cowen upped their target price on Paylocity from $240.00 to $265.00 in a research report on Friday. KeyCorp upped their target price on Paylocity from $205.00 to $285.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Robert W. Baird upped their target price on Paylocity from $274.00 to $305.00 and gave the stock an “outperform” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Paylocity presently has an average rating of “Moderate Buy” and an average price target of $264.38.

Paylocity Company Profile

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Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Payroll and Tax Services solution to simplify payroll, automate processes and manage compliance requirements within one system; expense management, on demand payment, and garnishment solutions; human capital management and employee self-service solutions, document library, compliance dashboard, and HR edge; time and attendance solution, which tracks time and attendance data, eliminating the need for manual tracking of accruals and reducing administrative tasks; schedule tracking services; and time collection devices, including kiosks, time clocks, and mobile and web applications.

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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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