BNP Paribas Arbitrage SA Grows Position in Paylocity Holding Corporation (PCTY)
BNP Paribas Arbitrage SA increased its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY) by 562.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,293 shares of the software maker’s stock after purchasing an additional 2,796 shares during the period. BNP Paribas Arbitrage SA’s holdings in Paylocity Holding Corporation were worth $149,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in PCTY. Bank of Montreal Can lifted its holdings in Paylocity Holding Corporation by 29.2% during the 1st quarter. Bank of Montreal Can now owns 3,377 shares of the software maker’s stock worth $130,000 after purchasing an additional 764 shares during the last quarter. Invictus RG acquired a new stake in Paylocity Holding Corporation during the 1st quarter worth approximately $198,000. NN Investment Partners Holdings N.V. acquired a new stake in Paylocity Holding Corporation during the 2nd quarter worth approximately $287,000. Oppenheimer Asset Management Inc. acquired a new stake in Paylocity Holding Corporation during the 1st quarter worth approximately $300,000. Finally, Sheets Smith Wealth Management acquired a new stake in Paylocity Holding Corporation during the 2nd quarter worth approximately $303,000. 60.87% of the stock is owned by institutional investors and hedge funds.
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A number of equities analysts have commented on the company. Northland Securities restated a “buy” rating and set a $55.00 price objective on shares of Paylocity Holding Corporation in a research note on Sunday, September 10th. ValuEngine upgraded Paylocity Holding Corporation from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Stifel Nicolaus restated a “buy” rating and set a $55.00 price objective (up previously from $50.00) on shares of Paylocity Holding Corporation in a research note on Friday, August 11th. Bank of America Corporation restated a “buy” rating and set a $47.00 price objective (down previously from $50.00) on shares of Paylocity Holding Corporation in a research note on Friday, August 11th. Finally, Mizuho restated a “hold” rating and set a $45.00 price objective on shares of Paylocity Holding Corporation in a research note on Thursday, August 10th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Paylocity Holding Corporation presently has a consensus rating of “Hold” and a consensus target price of $51.46.
Paylocity Holding Corporation (PCTY) opened at 47.15 on Thursday. The stock has a 50 day moving average price of $46.35 and a 200 day moving average price of $43.71. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 392.92 and a beta of 2.25. Paylocity Holding Corporation has a 52 week low of $29.69 and a 52 week high of $49.65.
Paylocity Holding Corporation (NASDAQ:PCTY) last posted its earnings results on Thursday, August 10th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. The firm had revenue of $76.10 million for the quarter, compared to the consensus estimate of $73.79 million. Paylocity Holding Corporation had a return on equity of 6.13% and a net margin of 2.24%. The business’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.01) earnings per share. On average, equities analysts forecast that Paylocity Holding Corporation will post $0.79 earnings per share for the current year.
In other Paylocity Holding Corporation news, Director Jeffrey T. Diehl sold 1,155,000 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $45.00, for a total transaction of $51,975,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Edward W. Gaty sold 5,185 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $48.92, for a total value of $253,650.20. Following the sale, the senior vice president now owns 116,135 shares in the company, valued at approximately $5,681,324.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,510,185 shares of company stock worth $68,035,096. Company insiders own 53.10% of the company’s stock.
About Paylocity Holding Corporation
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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