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

Leuthold Group LLC purchased a new stake in Paylocity Holding Corporation (NASDAQ:PCTY) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 31,485 shares of the software maker’s stock, valued at approximately $4,489,000. Leuthold Group LLC owned 0.06% of Paylocity as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Optiver Holding B.V. grew its stake in shares of Paylocity by 5,925.0% in the first quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock valued at $26,000 after acquiring an additional 237 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Paylocity in the 2nd quarter worth about $27,000. Basecamp Wealth Advisors LLC boosted its holdings in 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 purchasing an additional 255 shares during the period. Elevation Wealth Partners LLC boosted its holdings in 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 purchasing an additional 285 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in 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 purchasing an additional 167 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PCTY has been the topic of several recent research reports. BTIG Research raised their target price on shares of Paylocity from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Friday. Wall Street Zen upgraded shares of Paylocity from a “hold” rating to a “buy” rating in a research report on Saturday. TD Cowen boosted their price target on Paylocity from $168.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. UBS Group set a $175.00 price target on Paylocity in a research report on Tuesday, September 29th. Finally, Jefferies Financial Group restated a “buy” rating and set a $165.00 price objective on shares of Paylocity in a research note on Wednesday, August 5th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Paylocity presently has a consensus rating of “Moderate Buy” and an average price target of $177.82.

Insider Buying and Selling at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 8,900 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director owned 4,354,869 shares of the company’s stock, valued at approximately $746,032,608.39. The trade was a 0.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Steven Beauchamp sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $165.22, for a total transaction of $2,478,300.00. Following the transaction, the chairman owned 1,243,389 shares of the company’s stock, valued at approximately $205,432,730.58. This represents a 1.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 151,704 shares of company stock valued at $25,137,741. 20.10% of the stock is owned by corporate insiders.

Paylocity Trading Up 2.7%

Shares of Paylocity stock opened at $177.81 on Tuesday. The company has a market capitalization of $9.28 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 2.03 and a beta of 0.43. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $181.57. The firm’s 50-day moving average price is $156.50 and its two-hundred day moving average price is $127.63.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, November 5th. The software maker reported $2.09 earnings per share 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 firm had revenue of $451.67 million for the quarter, compared to the consensus estimate of $443.12 million. During the same quarter last year, the business posted $1.75 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. On average, analysts forecast that Paylocity Holding Corporation will post 6.94 earnings per share for the current fiscal year.

Paylocity Profile

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.