Alliancebernstein L.P. Has $10.43 Million Position in Paylocity Holding Co. (NASDAQ:PCTY)

Alliancebernstein L.P. reduced its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 68.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,273 shares of the software maker's stock after selling 112,045 shares during the quarter. Alliancebernstein L.P. owned 0.09% of Paylocity worth $10,427,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Paylocity by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker's stock valued at $803,745,000 after acquiring an additional 46,183 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Paylocity by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker's stock valued at $173,053,000 after purchasing an additional 36,590 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Paylocity by 0.8% during the fourth quarter. JPMorgan Chase & Co. now owns 863,787 shares of the software maker's stock worth $172,300,000 after purchasing an additional 7,251 shares during the last quarter. GW&K Investment Management LLC grew its stake in Paylocity by 0.6% in the fourth quarter. GW&K Investment Management LLC now owns 381,010 shares of the software maker's stock worth $76,000,000 after purchasing an additional 2,193 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Paylocity by 190.0% in the fourth quarter. American Century Companies Inc. now owns 349,797 shares of the software maker's stock valued at $69,774,000 after buying an additional 229,179 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Insider Transactions at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 23,243 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $191.00, for a total transaction of $4,439,413.00. Following the completion of the sale, the director now directly owns 470,452 shares of the company's stock, valued at approximately $89,856,332. The trade was a 4.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 21.91% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Piper Sandler reiterated an "overweight" rating and issued a $254.00 target price (up previously from $212.00) on shares of Paylocity in a research report on Thursday, February 6th. Raymond James reaffirmed an "outperform" rating and issued a $265.00 price objective (up previously from $215.00) on shares of Paylocity in a report on Friday, February 7th. Barclays boosted their target price on shares of Paylocity from $214.00 to $231.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. JMP Securities raised their price target on shares of Paylocity from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research report on Friday, February 7th. Finally, StockNews.com lowered shares of Paylocity from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Paylocity currently has a consensus rating of "Moderate Buy" and a consensus target price of $229.82.

Paylocity Stock Down 1.0 %

Paylocity stock traded down $1.80 during mid-day trading on Wednesday, hitting $184.96. 55,320 shares of the company's stock were exchanged, compared to its average volume of 479,581. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80. The stock has a 50 day moving average of $195.20 and a two-hundred day moving average of $194.43. The stock has a market cap of $10.34 billion, a P/E ratio of 47.33, a P/E/G ratio of 4.49 and a beta of 0.76. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. As a group, analysts anticipate that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

About Paylocity

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.