Barings LLC lessened its position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 53.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,029 shares of the software maker's stock after selling 4,557 shares during the period. Barings LLC's holdings in Paylocity were worth $804,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of Paylocity during the 4th quarter worth about $29,000. Prospera Private Wealth LLC acquired a new position in shares of Paylocity during the 3rd quarter worth about $39,000. UMB Bank n.a. boosted its stake in shares of Paylocity by 41.1% during the 4th 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 boosted its stake in shares of Paylocity by 149.2% during the 3rd quarter. Quarry LP now owns 309 shares of the software maker's stock worth $51,000 after buying an additional 185 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of 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 buying an additional 63 shares during the last quarter. Institutional investors own 94.76% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently commented on PCTY. Jefferies Financial Group increased their price objective on shares of Paylocity from $240.00 to $255.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Needham & Company LLC boosted their price target on Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Mizuho raised Paylocity from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $200.00 to $235.00 in a research report on Friday, January 31st. UBS Group boosted their target price on Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Finally, KeyCorp raised their price target on Paylocity from $220.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $233.25.
Read Our Latest Stock Report on Paylocity
Insider Activity at Paylocity
In related news, Director Steven I. Sarowitz sold 2,600 shares of the business's 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 of the company's stock, valued at $1,667,635,928.58. The trade was a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 54,654 shares of company stock valued at $11,067,608 over the last quarter. 21.91% of the stock is owned by corporate insiders.
Paylocity Stock Performance
PCTY opened at $195.11 on Friday. The business has a fifty day simple moving average of $203.18 and a 200 day simple moving average of $189.21. The company has a market capitalization of $10.90 billion, a PE ratio of 50.03, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80. 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 released its quarterly earnings results 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 net margin of 14.76% and a return on equity of 22.45%. Research analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current year.
Paylocity Company Profile
(
Free Report)
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.
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