Kera Capital Partners Inc. Purchases New Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Kera Capital Partners Inc. acquired a new position in shares of Paylocity Holding Co. (NASDAQ:PCTY) in the 4th quarter, HoldingsChannel reports. The firm acquired 1,134 shares of the software maker’s stock, valued at approximately $226,000.

A number of other hedge funds have also made changes to their positions in PCTY. International Assets Investment Management LLC grew its stake in Paylocity by 16,397.9% during the 3rd quarter. International Assets Investment Management LLC now owns 7,754 shares of the software maker’s stock valued at $1,279,000 after acquiring an additional 7,707 shares in the last quarter. Edgestream Partners L.P. increased its holdings in shares of Paylocity by 222.3% in the third quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker’s stock valued at $1,788,000 after purchasing an additional 7,475 shares during the last quarter. Barclays PLC lifted its position in Paylocity by 14.3% during the third quarter. Barclays PLC now owns 44,897 shares of the software maker’s stock worth $7,407,000 after buying an additional 5,609 shares in the last quarter. Millennium Management LLC boosted its stake in Paylocity by 435.2% during the second quarter. Millennium Management LLC now owns 331,253 shares of the software maker’s stock worth $43,676,000 after buying an additional 269,354 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Paylocity by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker’s stock valued at $46,592,000 after buying an additional 4,697 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PCTY. BMO Capital Markets lifted their price target on Paylocity from $175.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Jefferies Financial Group lifted their target price on shares of Paylocity from $215.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. StockNews.com raised shares of Paylocity from a “hold” rating to a “buy” rating in a research note on Saturday, December 7th. Mizuho lifted their price target on shares of Paylocity from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price objective on shares of Paylocity in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Paylocity has a consensus rating of “Moderate Buy” and an average target price of $210.64.

Insiders Place Their Bets

In other news, Director Steven I. Sarowitz sold 2,600 shares of Paylocity stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $200.14, for a total value of $520,364.00. Following the completion of the transaction, the director now owns 8,332,347 shares in the company, valued at approximately $1,667,635,928.58. This trade represents a 0.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey T. Diehl sold 4,513 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $209.91, for a total value of $947,323.83. Following the transaction, the director now directly owns 1,003 shares of the company’s stock, valued at approximately $210,539.73. This represents a 81.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 157,486 shares of company stock worth $31,751,368 in the last ninety days. 21.91% of the stock is owned by corporate insiders.

Paylocity Stock Down 1.2 %

Shares of PCTY opened at $197.00 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a market capitalization of $10.98 billion, a PE ratio of 50.38, a P/E/G ratio of 4.69 and a beta of 0.93. The company’s 50-day simple moving average is $201.47 and its 200-day simple moving average is $174.92. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $215.68.

Paylocity Company Profile

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.