GW&K Investment Management LLC Grows Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

GW&K Investment Management LLC increased its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 381,010 shares of the software maker’s stock after buying an additional 2,193 shares during the period. GW&K Investment Management LLC’s holdings in Paylocity were worth $76,000,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Paylocity by 81.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker’s stock worth $141,303,000 after purchasing an additional 385,625 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Paylocity by 283.8% in the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker’s stock valued at $51,101,000 after buying an additional 229,057 shares during the last quarter. Victory Capital Management Inc. raised its stake in Paylocity by 297.6% during the third quarter. Victory Capital Management Inc. now owns 119,560 shares of the software maker’s stock valued at $19,724,000 after buying an additional 89,487 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Paylocity by 113.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 96,406 shares of the software maker’s stock worth $15,904,000 after buying an additional 51,276 shares during the last quarter. Finally, FMR LLC grew its position in shares of Paylocity by 19.3% in the 3rd quarter. FMR LLC now owns 272,764 shares of the software maker’s stock worth $44,998,000 after acquiring an additional 44,118 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PCTY. Jefferies Financial Group upped their price target on Paylocity from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Mizuho upgraded shares of Paylocity from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $200.00 to $235.00 in a research report on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and issued a $265.00 price target (up from $215.00) on shares of Paylocity in a report on Friday, February 7th. Barclays increased their price objective on shares of Paylocity from $214.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Finally, UBS Group upped their target price on Paylocity from $211.00 to $220.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $233.25.

Insiders Place Their Bets

In other news, Director Steven I. Sarowitz sold 2,600 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $200.14, for a total value of $520,364.00. Following the sale, the director now owns 8,332,347 shares of the company’s stock, valued at approximately $1,667,635,928.58. The trade was a 0.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 69,349 shares of company stock worth $14,121,177 over the last ninety days. Company insiders own 21.91% of the company’s stock.

Paylocity Price Performance

Shares of PCTY opened at $200.40 on Friday. The firm has a market capitalization of $11.20 billion, a price-to-earnings ratio of 51.38, a price-to-earnings-growth ratio of 4.49 and a beta of 0.95. The stock’s fifty day moving average is $203.14 and its 200-day moving average is $186.90. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $223.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14.

Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. Equities analysts anticipate that Paylocity Holding Co. will post 4.36 EPS for the current year.

About Paylocity

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.