Stanley Laman Group Ltd. Purchases New Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Stanley Laman Group Ltd. acquired a new position in Paylocity Holding Co. (NASDAQ:PCTY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 39,826 shares of the software maker’s stock, valued at approximately $6,565,000. Paylocity comprises about 1.0% of Stanley Laman Group Ltd.’s investment portfolio, making the stock its 27th largest position.

Other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Paylocity in the 4th quarter worth approximately $82,172,000. Liontrust Investment Partners LLP purchased a new position in shares of Paylocity during the 3rd quarter valued at $90,181,000. Comerica Bank bought a new position in shares of Paylocity during the 3rd quarter worth $18,506,000. Westfield Capital Management Co. LP grew its stake in shares of Paylocity by 26.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 472,517 shares of the software maker’s stock worth $85,856,000 after acquiring an additional 99,781 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in Paylocity in the 3rd quarter worth about $17,262,000. Institutional investors own 94.76% of the company’s stock.

Paylocity Stock Up 0.3 %

Shares of PCTY stock traded up $0.42 during trading on Thursday, hitting $156.58. The company had a trading volume of 363,834 shares, compared to its average volume of 463,499. The stock’s 50-day moving average is $167.57 and its two-hundred day moving average is $165.36. The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of 52.90, a price-to-earnings-growth ratio of 3.44 and a beta of 0.87. Paylocity Holding Co. has a 52 week low of $139.40 and a 52 week high of $230.52.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, February 8th. The software maker reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. The business had revenue of $326.36 million during the quarter, compared to analysts’ expectations of $324.34 million. Paylocity had a net margin of 12.96% and a return on equity of 21.37%. On average, research analysts predict that Paylocity Holding Co. will post 3.48 EPS for the current fiscal year.

Insider Activity at Paylocity

In related news, Director Steven I. Sarowitz sold 24,504 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $175.47, for a total transaction of $4,299,716.88. Following the transaction, the director now directly owns 9,587,872 shares of the company’s stock, valued at approximately $1,682,383,899.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Paylocity news, Director Jeffrey T. Diehl sold 1,760 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $171.64, for a total transaction of $302,086.40. Following the completion of the sale, the director now directly owns 14,704 shares in the company, valued at $2,523,794.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven I. Sarowitz sold 24,504 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $175.47, for a total value of $4,299,716.88. Following the transaction, the director now directly owns 9,587,872 shares in the company, valued at $1,682,383,899.84. The disclosure for this sale can be found here. Insiders have sold a total of 54,547 shares of company stock valued at $9,356,359 over the last 90 days. 22.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $180.00 price objective (down from $240.00) on shares of Paylocity in a report on Friday, January 5th. Citigroup raised their price objective on shares of Paylocity from $180.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, January 31st. Mizuho lowered their target price on shares of Paylocity from $170.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, February 9th. Truist Financial cut their price target on Paylocity from $250.00 to $200.00 and set a “buy” rating for the company in a report on Friday, February 9th. Finally, Piper Sandler boosted their price objective on Paylocity from $207.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.13.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.