Leuthold Group LLC Acquires 31,485 Shares of Paylocity Holding Corporation $PCTY

Leuthold Group LLC acquired a new stake in Paylocity Holding Corporation (NASDAQ:PCTY) in the third quarter, Holdings Channel reports. The firm acquired 31,485 shares of the software maker’s stock, valued at approximately $4,489,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PCTY. Optiver Holding B.V. raised its position in Paylocity by 5,925.0% during the 1st quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock worth $26,000 after purchasing an additional 237 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Paylocity in the 2nd quarter valued at about $27,000. Basecamp Wealth Advisors LLC grew its position in shares of Paylocity by 4,250.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock valued at $28,000 after buying an additional 255 shares during the last quarter. Elevation Wealth Partners LLC grew its position in shares of Paylocity by 500.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker’s stock valued at $36,000 after buying an additional 285 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Paylocity by 58.8% in the 1st quarter. Parallel Advisors LLC now owns 451 shares of the software maker’s stock valued at $49,000 after buying an additional 167 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Stock Performance

Shares of Paylocity stock opened at $177.81 on Tuesday. The business has a 50-day moving average price of $156.50 and a two-hundred day moving average price of $127.63. Paylocity Holding Corporation has a 1-year low of $92.99 and a 1-year high of $181.57. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.07. The company has a market cap of $9.28 billion, a P/E ratio of 34.46, a PEG ratio of 2.03 and a beta of 0.43.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, November 5th. The software maker reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.16. Paylocity had a return on equity of 27.02% and a net margin of 15.23%. The company had revenue of $451.67 million for the quarter, compared to the consensus estimate of $443.12 million. During the same period in the previous year, the business earned $1.75 EPS. The firm’s revenue was up 10.7% compared to the same quarter last year. As a group, analysts anticipate that Paylocity Holding Corporation will post 6.94 EPS for the current year.

Insider Buying and Selling

In other Paylocity news, Director Steven I. Sarowitz sold 8,900 shares of the stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $171.31, for a total transaction of $1,524,659.00. Following the transaction, the director directly owned 4,354,869 shares in the company, valued at approximately $746,032,608.39. This represents a 0.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Steven Beauchamp sold 15,000 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $165.22, for a total value of $2,478,300.00. Following the transaction, the chairman owned 1,243,389 shares in the company, valued at $205,432,730.58. The trade was a 1.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 151,704 shares of company stock valued at $25,137,741. 20.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PCTY has been the topic of several analyst reports. Zacks Research cut Paylocity from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. BTIG Research increased their target price on shares of Paylocity from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Friday. KeyCorp raised their price target on shares of Paylocity from $178.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, October 28th. Citigroup boosted their price target on shares of Paylocity from $208.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Weiss Ratings upgraded shares of Paylocity from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, September 22nd. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $177.82.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software to businesses in the United States. Its platform brings together tools that help employers manage payroll, human resources, benefits, and workforce operations.

Products and services include payroll processing, benefits administration, time and labor management, talent acquisition and development, employee communications, and expense management. The platform is designed to help organizations streamline administrative work and support employees and managers through a unified system.

Founded in 1997 by Steve Sarowitz, Paylocity is headquartered in Schaumburg, Illinois.