OxFORD Asset Management LLP acquired a new position in Paylocity Holding Corp (NASDAQ:PCTY) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 65,447 shares of the software maker’s stock, valued at approximately $3,189,000. OxFORD Asset Management LLP owned about 0.12% of Paylocity at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of PCTY. Vanguard Group Inc. boosted its holdings in shares of Paylocity by 3.8% during the 2nd quarter. Vanguard Group Inc. now owns 2,070,015 shares of the software maker’s stock worth $93,524,000 after purchasing an additional 75,709 shares during the last quarter. FMR LLC boosted its holdings in shares of Paylocity by 5.2% during the 2nd quarter. FMR LLC now owns 1,963,017 shares of the software maker’s stock worth $88,689,000 after purchasing an additional 97,368 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in shares of Paylocity by 4.7% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,042,500 shares of the software maker’s stock worth $50,895,000 after purchasing an additional 46,950 shares during the last quarter. Wasatch Advisors Inc. boosted its holdings in shares of Paylocity by 8.0% during the 2nd quarter. Wasatch Advisors Inc. now owns 863,765 shares of the software maker’s stock worth $39,025,000 after purchasing an additional 64,268 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of Paylocity during the 2nd quarter worth approximately $29,148,000. Institutional investors own 59.84% of the company’s stock.
PCTY has been the topic of several recent research reports. Mizuho restated a “hold” rating and set a $45.00 target price on shares of Paylocity in a report on Thursday, October 12th. ValuEngine upgraded Paylocity from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research cut Paylocity from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Robert W. Baird boosted their target price on Paylocity from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. Finally, Northland Securities restated a “buy” rating and set a $55.00 target price on shares of Paylocity in a report on Sunday, September 10th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $52.92.
Paylocity (NASDAQ:PCTY) last released its quarterly earnings results on Thursday, November 2nd. The software maker reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.17. The firm had revenue of $81.50 million for the quarter, compared to analyst estimates of $80.88 million. Paylocity had a net margin of 3.11% and a return on equity of 7.98%. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.07 EPS. analysts predict that Paylocity Holding Corp will post 0.32 earnings per share for the current year.
In other Paylocity news, CEO Steven R. Beauchamp sold 24,530 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $50.24, for a total value of $1,232,387.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Steven R. Beauchamp sold 23,530 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $50.25, for a total value of $1,182,382.50. Following the completion of the sale, the chief executive officer now directly owns 2,253,978 shares in the company, valued at approximately $113,262,394.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,429,734 shares of company stock worth $66,231,695. Corporate insiders own 48.80% of the company’s stock.
Paylocity Company Profile
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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