FORA Capital LLC Invests $1.54 Million in Paylocity Holding Co. (NASDAQ:PCTY)

FORA Capital LLC bought a new stake in Paylocity Holding Co. (NASDAQ:PCTY) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,960 shares of the software maker’s stock, valued at approximately $1,540,000.

A number of other large investors have also added to or reduced their stakes in the company. Capital International Investors grew its holdings in shares of Paylocity by 119.0% during the 4th quarter. Capital International Investors now owns 1,211,021 shares of the software maker’s stock valued at $199,637,000 after purchasing an additional 658,057 shares during the last quarter. Wasatch Advisors LP grew its position in Paylocity by 35.0% during the 1st quarter. Wasatch Advisors LP now owns 2,396,692 shares of the software maker’s stock worth $411,895,000 after acquiring an additional 621,946 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Paylocity in the 4th quarter worth approximately $82,172,000. Clearbridge Investments LLC lifted its position in Paylocity by 2,212.5% in the fourth quarter. Clearbridge Investments LLC now owns 381,952 shares of the software maker’s stock valued at $62,965,000 after purchasing an additional 365,435 shares during the last quarter. Finally, Owls Nest Partners IA LLC purchased a new stake in shares of Paylocity during the fourth quarter valued at approximately $29,038,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Paylocity Stock Performance

Shares of Paylocity stock traded down $0.87 during trading hours on Tuesday, hitting $132.43. The company’s stock had a trading volume of 122,359 shares, compared to its average volume of 524,873. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $230.52. The company has a market cap of $7.47 billion, a PE ratio of 38.75, a PEG ratio of 2.31 and a beta of 0.92. The business has a 50 day moving average price of $148.35 and a two-hundred day moving average price of $158.96.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Thursday, May 2nd. The software maker reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.29. Paylocity had a net margin of 14.42% and a return on equity of 22.08%. The firm had revenue of $401.28 million during the quarter, compared to analyst estimates of $396.93 million. As a group, research analysts anticipate that Paylocity Holding Co. will post 3.95 earnings per share for the current year.

Analysts Set New Price Targets

PCTY has been the subject of several analyst reports. Barclays increased their price target on shares of Paylocity from $166.00 to $178.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Piper Sandler reduced their price target on shares of Paylocity from $210.00 to $194.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Needham & Company LLC restated a “buy” rating and issued a $200.00 price objective on shares of Paylocity in a report on Friday, May 3rd. Robert W. Baird reduced their price target on Paylocity from $225.00 to $195.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 18th. Finally, Stifel Nicolaus dropped their target price on shares of Paylocity from $205.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $190.65.

Insider Activity at Paylocity

In related news, CAO Nicholas Rost sold 331 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $138.73, for a total value of $45,919.63. Following the completion of the transaction, the chief accounting officer now owns 4,751 shares of the company’s stock, valued at $659,106.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 22.50% of the stock is owned by company insiders.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.