Fintel reports that Sarowitz Steven I
has filed a 13G/A form
with the SEC disclosing ownership of
10.97MM
shares of Paylocity Holding Corp (PCTY).

This represents 19.7% of the company.

In their previous filing dated February 10, 2022
they reported 11.87MM shares and 21.50% of the company,
a decrease in shares of 7.57%
and
a decrease in total ownership of
1.80%
(calculated as current – previous percent ownership).

Analyst Price Forecast Suggests 22.29% Upside

As of February 3, 2023,
the average one-year price target for Paylocity Holding is $276.42.
The forecasts range from a low of $232.30 to a high of $341.25.
The average price target represents an increase of 22.29% from its latest reported closing price of $226.04.

The projected annual revenue for Paylocity Holding
is $1,147MM, an increase of 24.10%.

The projected annual EPS
is $4.22, an increase of 158.09%.

Fund Sentiment

There are 893 funds or institutions reporting positions in Paylocity Holding.
This is an increase
of
65
owner(s) or 7.85%.

Average portfolio weight of all funds dedicated to US:PCTY is 0.4403%,
an increase
of 13.2701%.

Total shares owned by institutions increased
in the last three months by 2.77% to 49,346K shares.

What are large shareholders doing?

Price T Rowe Associates
holds 7,750,756 shares

representing 13.92% ownership of the company.

In it’s prior filing, the firm reported owning 9,778,582 shares, representing
a decrease
of 26.16%.

The firm

increased

its portfolio allocation in PCTY by 42.35% over the last quarter.

PRNHX – T. Rowe Price New Horizons Fund
holds 5,457,488 shares

representing 9.80% ownership of the company.

In it’s prior filing, the firm reported owning 5,567,365 shares, representing
a decrease
of 2.01%.

The firm

increased

its portfolio allocation in PCTY by 36.69% over the last quarter.

Invesco
holds 1,625,939 shares

representing 2.92% ownership of the company.

In it’s prior filing, the firm reported owning 1,454,126 shares, representing
an increase
of 10.57%.

The firm

increased

its portfolio allocation in PCTY by 64.52% over the last quarter.

T. Rowe Price Investment Management
holds 1,564,480 shares

representing 2.81% ownership of the company.

Wasatch Advisors
holds 1,335,266 shares

representing 2.40% ownership of the company.

In it’s prior filing, the firm reported owning 1,473,710 shares, representing
a decrease
of 10.37%.

The firm

increased

its portfolio allocation in PCTY by 37.93% over the last quarter.

Paylocity Holding Background Information
(This description is provided by the company.)

Paylocity is a leading provider of cloud-based HR and payroll software solutions headquartered in Schaumburg, IL. Founded in 1997, Paylocity offers an intuitive, easy-to-use product suite that helps businesses tackle today’s challenges while moving them toward the promise of tomorrow. Known for its unique culture and consistently recognized as one of the best places to work, Paylocity accompanies its clients on the journey to create great workplaces and help people achieve their best through automation, data-driven insights, and engagement.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source: Nasdaq

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