Bank of New York Mellon Corp Sells 9,621 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Bank of New York Mellon Corp lessened its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 384,441 shares of the software maker's stock after selling 9,621 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.69% of Paylocity worth $76,684,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in shares of 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 worth $1,279,000 after acquiring an additional 7,707 shares during the period. Certuity LLC purchased a new stake in Paylocity during the 4th quarter valued at about $232,000. Edgestream Partners L.P. increased its stake in Paylocity by 222.3% during the 3rd 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 in the last quarter. Barclays PLC raised its holdings in Paylocity by 14.3% in 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 during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Paylocity by 5,742.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker's stock worth $1,165,000 after buying an additional 5,742 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

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Insider Buying and Selling

In related news, Director Steven I. Sarowitz sold 2,600 shares of Paylocity stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $200.14, for a total transaction of $520,364.00. Following the completion of the transaction, the director now directly owns 8,332,347 shares of the company's stock, valued at approximately $1,667,635,928.58. The trade was a 0.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 54,654 shares of company stock worth $11,067,608. Corporate insiders own 21.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Raymond James restated an "outperform" rating and issued a $265.00 price objective (up from $215.00) on shares of Paylocity in a report on Friday, February 7th. Stifel Nicolaus upped their target price on shares of Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a report on Friday, February 7th. Mizuho upgraded shares of Paylocity from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $200.00 to $235.00 in a research note on Friday, January 31st. Piper Sandler restated an "overweight" rating and issued a $254.00 price objective (up from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. Finally, KeyCorp lifted their target price on Paylocity from $220.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $233.25.

Paylocity Price Performance

Shares of PCTY stock traded up $1.89 during trading hours on Friday, hitting $192.71. The stock had a trading volume of 171,483 shares, compared to its average volume of 485,902. The stock's 50-day moving average price is $203.28 and its two-hundred day moving average price is $188.66. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $223.80. The stock has a market capitalization of $10.77 billion, a price-to-earnings ratio of 49.41, a PEG ratio of 4.49 and a beta of 0.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued 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%. Equities analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current year.

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.