Legal & General Group Plc Raises Stake in Paylocity Holding Corp (PCTY)

Legal & General Group Plc lifted its position in shares of Paylocity Holding Corp (NASDAQ:PCTY) by 47.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,412 shares of the software maker’s stock after purchasing an additional 3,686 shares during the quarter. Legal & General Group Plc’s holdings in Paylocity were worth $556,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PCTY. Janus Henderson Group PLC acquired a new position in shares of Paylocity during the second quarter worth approximately $29,148,000. FMR LLC raised its position in shares of Paylocity by 5.2% during the second quarter. FMR LLC now owns 1,963,017 shares of the software maker’s stock worth $88,689,000 after purchasing an additional 97,368 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Paylocity by 76.2% during the second quarter. Goldman Sachs Group Inc. now owns 199,508 shares of the software maker’s stock worth $9,014,000 after purchasing an additional 86,262 shares during the period. Vanguard Group Inc. raised its position in Paylocity by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 2,070,015 shares of the software maker’s stock valued at $93,524,000 after buying an additional 75,709 shares during the last quarter. Finally, State Street Corp raised its position in Paylocity by 18.4% in the 2nd quarter. State Street Corp now owns 475,077 shares of the software maker’s stock valued at $21,468,000 after buying an additional 73,786 shares during the last quarter. 59.78% of the stock is currently owned by institutional investors.

Paylocity Holding Corp (NASDAQ PCTY) opened at $48.67 on Friday. The stock has a market capitalization of $2,506.63, a price-to-earnings ratio of 270.39, a price-to-earnings-growth ratio of 6.15 and a beta of 2.11. Paylocity Holding Corp has a 12 month low of $29.69 and a 12 month high of $53.96.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, November 2nd. The software maker reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.17. The firm had revenue of $81.50 million during the quarter, compared to the consensus estimate of $80.88 million. Paylocity had a return on equity of 7.98% and a net margin of 3.11%. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS. equities analysts forecast that Paylocity Holding Corp will post 0.33 earnings per share for the current year.

A number of research firms recently commented on PCTY. Zacks Investment Research raised Paylocity from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Tuesday. BidaskClub lowered Paylocity from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Dougherty & Co began coverage on Paylocity in a research report on Tuesday, December 19th. They issued a “neutral” rating for the company. TheStreet lowered Paylocity from a “b-” rating to a “c+” rating in a research report on Tuesday, December 5th. Finally, SunTrust Banks reissued a “hold” rating and issued a $47.00 price target on shares of Paylocity in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten 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 Paylocity news, SVP Edward W. Gaty sold 5,062 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $45.82, for a total value of $231,940.84. Following the completion of the transaction, the senior vice president now owns 116,135 shares in the company, valued at approximately $5,321,305.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven R. Beauchamp sold 50,000 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $46.63, for a total value of $2,331,500.00. The disclosure for this sale can be found here. Insiders sold a total of 1,376,204 shares of company stock valued at $63,542,933 in the last 90 days. Corporate insiders own 48.80% of the company’s stock.

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About Paylocity

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.

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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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