Bell Asset Management Ltd reduced its position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 39.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,694 shares of the software maker's stock after selling 19,606 shares during the quarter. Bell Asset Management Ltd owned about 0.06% of Paylocity worth $6,123,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of PCTY. Certuity LLC acquired a new stake in Paylocity during the fourth quarter valued at approximately $232,000. Barclays PLC lifted its position in shares of Paylocity by 14.3% during the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker's stock valued at $7,407,000 after acquiring an additional 5,609 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Paylocity by 5,742.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker's stock worth $1,165,000 after acquiring an additional 5,742 shares in the last quarter. Geode Capital Management LLC grew its holdings 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 worth $173,053,000 after acquiring an additional 36,590 shares during the last quarter. Finally, Park Avenue Securities LLC raised its position in shares of Paylocity by 63.3% during the fourth quarter. Park Avenue Securities LLC now owns 5,590 shares of the software maker's stock worth $1,115,000 after purchasing an additional 2,167 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on PCTY. JMP Securities increased their price target on Paylocity from $250.00 to $270.00 and gave the company a "market outperform" rating in a research report on Friday, February 7th. Stifel Nicolaus lifted their target price on shares of Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Needham & Company LLC upped their price target 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. KeyCorp raised their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Finally, StockNews.com downgraded shares of Paylocity from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Paylocity currently has a consensus rating of "Moderate Buy" and a consensus price target of $233.25.
Check Out Our Latest Stock Analysis on Paylocity
Paylocity Stock Up 1.9 %
NASDAQ:PCTY traded up $3.49 during mid-day trading on Friday, reaching $187.27. The stock had a trading volume of 327,946 shares, compared to its average volume of 479,811. The stock has a market cap of $10.47 billion, a P/E ratio of 48.02, a PEG ratio of 4.49 and a beta of 0.76. The business's 50 day moving average is $196.14 and its 200 day moving average is $194.08. 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 Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80.
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 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%. As a group, sell-side analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current year.
Insider Transactions at Paylocity
In related news, Director Steven I. Sarowitz sold 26,252 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the completion of the sale, the director now directly owns 420,000 shares of the company's stock, valued at approximately $81,862,200. This represents a 5.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.91% of the stock is currently owned by corporate insiders.
Paylocity Company Profile
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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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