Bank of New York Mellon Corp increased its position in Paylocity Holding Corp. (NASDAQ:PCTY) by 11.4% during the second quarter, Holdings Channel reports. The institutional investor owned 91,270 shares of the company’s stock after buying an additional 9,323 shares during the period. Bank of New York Mellon Corp owned about 0.18% of Paylocity Holding Corp. worth $3,942,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Independent Portfolio Consultants Inc. boosted its position in Paylocity Holding Corp. by 10.1% in the second quarter. Independent Portfolio Consultants Inc. now owns 5,385 shares of the company’s stock valued at $233,000 after buying an additional 495 shares during the period. Menta Capital LLC acquired a new position in Paylocity Holding Corp. during the first quarter valued at about $239,000. Metropolitan Life Insurance Co. NY boosted its position in Paylocity Holding Corp. by 0.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 11,417 shares of the company’s stock valued at $374,000 after buying an additional 52 shares during the period. Pegasus Partners Ltd. boosted its position in Paylocity Holding Corp. by 94.2% in the first quarter. Pegasus Partners Ltd. now owns 18,550 shares of the company’s stock valued at $607,000 after buying an additional 9,000 shares during the period. Finally, Tocqueville Asset Management L.P. acquired a new position in Paylocity Holding Corp. during the second quarter valued at about $950,000. 65.97% of the stock is currently owned by hedge funds and other institutional investors.
Paylocity Holding Corp. (NASDAQ:PCTY) traded up 2.90% during trading on Tuesday, hitting $44.72. The stock had a trading volume of 181,279 shares. The stock’s market cap is $2.29 billion. Paylocity Holding Corp. has a 12 month low of $24.00 and a 12 month high of $49.65. The firm has a 50 day moving average of $44.21 and a 200-day moving average of $39.82.
Paylocity Holding Corp. (NASDAQ:PCTY) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Paylocity Holding Corp. had a negative net margin of 1.67% and a negative return on equity of 2.04%. The business earned $59.80 million during the quarter, compared to the consensus estimate of $57.64 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. The business’s revenue for the quarter was up 49.5% compared to the same quarter last year. Equities analysts predict that Paylocity Holding Corp. will post $0.37 earnings per share for the current year.
PCTY has been the topic of several analyst reports. Deutsche Bank AG upped their price objective on Paylocity Holding Corp. from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, August 10th. Stifel Nicolaus increased their price target on Paylocity Holding Corp. from $43.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Zacks Investment Research raised Paylocity Holding Corp. from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Wednesday, July 13th. First Analysis cut Paylocity Holding Corp. from an “overweight” rating to an “equal weight” rating and set a $42.00 price target on the stock. in a report on Friday, July 8th. Finally, JMP Securities increased their price target on Paylocity Holding Corp. from $43.00 to $55.00 and gave the company a “market outperform” rating in a report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $47.00.
In related news, VP Michael R. Haske sold 100,000 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $45.33, for a total transaction of $4,533,000.00. Following the completion of the transaction, the vice president now directly owns 1,469,882 shares in the company, valued at $66,629,751.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Peter J. Mcgrail sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $43.17, for a total transaction of $215,850.00. Following the transaction, the chief financial officer now owns 146,976 shares of the company’s stock, valued at $6,344,953.92. The disclosure for this sale can be found here. Insiders own 60.80% of the company’s stock.
About Paylocity Holding Corp.
Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Company’s solutions enable its clients to manage their workforce. Its multi-tenant software platform is configurable and includes a suite of payroll and HCM applications, such as time and labor tracking, benefits and talent management.
Want to see what other hedge funds are holding PCTY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paylocity Holding Corp. (NASDAQ:PCTY).
Receive News & Ratings for Paylocity Holding Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paylocity Holding Corp. and related companies with MarketBeat.com's FREE daily email newsletter.