Bank of Montreal Can grew its holdings in shares of Paylocity Holding Corp (NASDAQ:PCTY) by 44.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,298 shares of the software maker’s stock after purchasing an additional 3,807 shares during the period. Bank of Montreal Can’s holdings in Paylocity were worth $987,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PCTY. Voya Investment Management LLC lifted its holdings in shares of Paylocity by 3,670.3% during the second quarter. Voya Investment Management LLC now owns 446,288 shares of the software maker’s stock valued at $26,269,000 after purchasing an additional 434,451 shares during the last quarter. Standard Life Aberdeen plc lifted its holdings in shares of Paylocity by 31.4% during the second quarter. Standard Life Aberdeen plc now owns 1,469,941 shares of the software maker’s stock valued at $86,521,000 after purchasing an additional 350,996 shares during the last quarter. BlackRock Inc. increased its position in shares of Paylocity by 15.0% during the second quarter. BlackRock Inc. now owns 2,050,204 shares of the software maker’s stock valued at $120,674,000 after acquiring an additional 267,913 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of Paylocity during the second quarter valued at approximately $10,926,000. Finally, Cortina Asset Management LLC bought a new stake in shares of Paylocity during the second quarter valued at approximately $8,647,000. Hedge funds and other institutional investors own 66.41% of the company’s stock.

NASDAQ:PCTY opened at $61.19 on Wednesday. Paylocity Holding Corp has a 12 month low of $41.15 and a 12 month high of $88.47. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 197.39, a P/E/G ratio of 5.03 and a beta of 2.19.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, November 1st. The software maker reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Paylocity had a net margin of 12.08% and a return on equity of 12.35%. The business had revenue of $100.50 million during the quarter, compared to the consensus estimate of $98.37 million. During the same quarter in the previous year, the firm posted $0.15 EPS. The firm’s revenue was up 23.3% on a year-over-year basis. On average, equities analysts expect that Paylocity Holding Corp will post 0.63 earnings per share for the current year.

In other Paylocity news, Director Steven I. Sarowitz sold 72,500 shares of Paylocity stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $62.78, for a total value of $4,551,550.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Edward W. Gaty sold 7,614 shares of Paylocity stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $78.90, for a total transaction of $600,744.60. Following the completion of the sale, the senior vice president now directly owns 126,392 shares of the company’s stock, valued at approximately $9,972,328.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 967,614 shares of company stock valued at $63,229,170. 41.20% of the stock is currently owned by insiders.

Several equities research analysts recently weighed in on the stock. ValuEngine raised shares of Paylocity from a “hold” rating to a “buy” rating in a research report on Monday. BidaskClub downgraded shares of Paylocity from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Robert W. Baird reissued a “buy” rating and set a $68.00 price target on shares of Paylocity in a research report on Friday, August 10th. Jefferies Financial Group reduced their price target on shares of Paylocity to $79.00 and set a “hold” rating for the company in a research report on Friday, November 2nd. Finally, Royal Bank of Canada reduced their price target on shares of Paylocity from $68.00 to $66.00 and set a “sector perform” rating for the company in a research report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $68.36.

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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.

See Also: Inflation

Institutional Ownership by Quarter for Paylocity (NASDAQ:PCTY)

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