Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Amundi

Amundi cut its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,602 shares of the software maker's stock after selling 2,107 shares during the period. Amundi's holdings in Paylocity were worth $4,784,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. SBI Securities Co. Ltd. purchased a new position in Paylocity during the 4th quarter worth $29,000. Prospera Private Wealth LLC acquired a new stake in shares of Paylocity during the third quarter worth about $39,000. UMB Bank n.a. grew its holdings in shares of Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock worth $49,000 after buying an additional 72 shares during the last quarter. Quarry LP increased its position in Paylocity by 149.2% in the 3rd quarter. Quarry LP now owns 309 shares of the software maker's stock valued at $51,000 after acquiring an additional 185 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its position in Paylocity by 29.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock worth $55,000 after acquiring an additional 63 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 1,400 shares of Paylocity stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $200.59, for a total value of $280,826.00. Following the completion of the sale, the director now owns 8,338,430 shares in the company, valued at $1,672,605,673.70. The trade was a 0.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 7,083 shares of company stock valued at $1,420,041 in the last quarter. 21.91% of the stock is currently owned by company insiders.

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Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PCTY shares. Barclays upped their price target on Paylocity from $214.00 to $231.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. Mizuho upgraded shares of Paylocity from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $200.00 to $235.00 in a research report on Friday, January 31st. Piper Sandler reaffirmed an "overweight" rating and issued a $254.00 target price (up previously from $212.00) on shares of Paylocity in a report on Thursday, February 6th. Needham & Company LLC raised their price objective on shares of Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Finally, KeyCorp boosted their target price on shares of Paylocity from $220.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $233.25.

Paylocity Price Performance

Paylocity stock traded up $0.96 during midday trading on Wednesday, reaching $190.92. 177,243 shares of the company were exchanged, compared to its average volume of 465,031. The company has a market capitalization of $10.67 billion, a price-to-earnings ratio of 48.95, a P/E/G ratio of 4.49 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. The firm's 50-day simple moving average is $201.57 and its 200-day simple moving average is $190.83. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80.

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 for the quarter, missing analysts' consensus estimates of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. On average, analysts anticipate that Paylocity Holding Co. will post 4.36 EPS for the current 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.