Hilton Capital Management LLC acquired a new position in Paylocity Holding Corp (NASDAQ:PCTY) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 706 shares of the software maker’s stock, valued at approximately $63,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PCTY. FTB Advisors Inc. grew its holdings in shares of Paylocity by 25.1% in the fourth quarter. FTB Advisors Inc. now owns 642 shares of the software maker’s stock worth $38,000 after acquiring an additional 129 shares during the period. Bronfman E.L. Rothschild L.P. grew its holdings in shares of Paylocity by 34.8% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 774 shares of the software maker’s stock worth $47,000 after acquiring an additional 200 shares during the period. O Shaughnessy Asset Management LLC bought a new stake in shares of Paylocity in the first quarter worth $61,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Paylocity by 23.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,141 shares of the software maker’s stock valued at $129,000 after purchasing an additional 407 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Paylocity during the first quarter valued at about $132,000. 64.23% of the stock is owned by institutional investors.

Shares of Paylocity stock opened at $94.87 on Friday. Paylocity Holding Corp has a 52 week low of $53.46 and a 52 week high of $103.80. The stock has a market capitalization of $5.06 billion, a PE ratio of 140.41, a price-to-earnings-growth ratio of 8.46 and a beta of 1.92.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Thursday, May 2nd. The software maker reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.19. Paylocity had a return on equity of 15.29% and a net margin of 9.52%. The business had revenue of $139.60 million for the quarter, compared to the consensus estimate of $135.97 million. During the same period in the previous year, the business earned $0.71 earnings per share. The business’s revenue was up 23.1% on a year-over-year basis. As a group, sell-side analysts predict that Paylocity Holding Corp will post 0.56 EPS for the current fiscal year.

Several research firms have issued reports on PCTY. Raymond James boosted their price target on Paylocity from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, May 17th. SunTrust Banks boosted their price target on Paylocity to $108.00 and gave the company a “positive” rating in a report on Friday, May 3rd. Craig Hallum reissued a “hold” rating and set a $97.00 price target (up previously from $78.00) on shares of Paylocity in a report on Friday, May 3rd. Jefferies Financial Group boosted their price target on Paylocity from $85.00 to $103.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Finally, KeyCorp began coverage on Paylocity in a report on Tuesday, April 16th. They set an “overweight” rating and a $104.00 price target for the company. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Paylocity has a consensus rating of “Buy” and an average price target of $90.50.

In other news, CEO Steven R. Beauchamp sold 55,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $96.40, for a total value of $5,302,000.00. Following the transaction, the chief executive officer now directly owns 1,881,682 shares in the company, valued at $181,394,144.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven I. Sarowitz sold 166,489 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $95.53, for a total value of $15,904,694.17. Following the completion of the transaction, the director now owns 14,569,464 shares in the company, valued at $1,391,820,895.92. The disclosure for this sale can be found here. Insiders sold 285,192 shares of company stock worth $27,120,606 over the last 90 days. Company insiders own 41.20% of the company’s stock.

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Paylocity Profile

Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.

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Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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