CenterBook Partners LP Makes New $1.08 Million Investment in Paylocity Holding Corporation $PCTY

CenterBook Partners LP acquired a new stake in Paylocity Holding Corporation (NASDAQ:PCTY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,571 shares of the software maker’s stock, valued at approximately $1,079,000.

Several other hedge funds also recently bought and sold shares of the business. Optiver Holding B.V. increased its stake in Paylocity by 5,925.0% in the first quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock worth $26,000 after purchasing an additional 237 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of Paylocity during the second quarter valued at $27,000. Basecamp Wealth Advisors LLC boosted its stake in shares of Paylocity by 4,250.0% during the first 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 grew its holdings in shares of Paylocity by 500.0% in the second quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker’s stock worth $36,000 after purchasing an additional 285 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Paylocity by 58.8% in the first quarter. Parallel Advisors LLC now owns 451 shares of the software maker’s stock worth $49,000 after purchasing an additional 167 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on PCTY shares. UBS Group set a $175.00 price target on shares of Paylocity in a research note on Tuesday, September 29th. BTIG Research lifted their price objective on shares of Paylocity from $200.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 6th. KeyCorp boosted their price objective on shares of Paylocity from $178.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. Citigroup upped their target price on shares of Paylocity from $208.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Barclays upped their target price on shares of Paylocity from $162.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Friday, November 6th. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.82.

Insider Buying and Selling at Paylocity

In related news, Director Steven I. Sarowitz sold 19,459 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $157.78, for a total value of $3,070,241.02. Following the completion of the sale, the director directly owned 4,453,495 shares of the company’s stock, valued at $702,672,441.10. This represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 dated 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 completion of the sale, the chairman directly owned 1,243,389 shares of the company’s stock, valued at approximately $205,432,730.58. This trade represents a 1.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 151,704 shares of company stock worth $25,137,741. Insiders own 20.10% of the company’s stock.

Paylocity Trading Up 0.7%

PCTY opened at $179.00 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.04 and a debt-to-equity ratio of 0.11. The stock’s fifty day moving average is $156.88 and its two-hundred day moving average is $127.78. The company has a market capitalization of $9.30 billion, a P/E ratio of 30.03, a PEG ratio of 2.03 and a beta of 0.43. Paylocity Holding Corporation has a 52 week low of $92.99 and a 52 week high of $181.57.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Thursday, November 5th. The software maker reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.16. Paylocity had a return on equity of 27.59% and a net margin of 15.40%. The business had revenue of $451.67 million during the quarter, compared to analysts’ expectations of $443.12 million. During the same period in the prior year, the business earned $1.75 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts forecast that Paylocity Holding Corporation will post 6.94 earnings per share for the current 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.