Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Capital International Investors

Capital International Investors trimmed its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 17.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,164,066 shares of the software maker's stock after selling 246,007 shares during the quarter. Capital International Investors owned approximately 2.09% of Paylocity worth $232,196,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PCTY. SBI Securities Co. Ltd. purchased a new position in shares of Paylocity in the fourth quarter valued at approximately $29,000. UMB Bank n.a. lifted its holdings in Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock valued at $49,000 after purchasing an additional 72 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Paylocity by 489.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock worth $54,000 after purchasing an additional 225 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock valued at $55,000 after buying an additional 63 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Paylocity by 43.3% in the fourth quarter. GAMMA Investing LLC now owns 384 shares of the software maker's stock valued at $77,000 after buying an additional 116 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Paylocity news, Director Steven I. Sarowitz sold 23,243 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $191.00, for a total value of $4,439,413.00. Following the sale, the director now directly owns 470,452 shares in the company, valued at $89,856,332. This trade represents a 4.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 21.91% of the company's stock.

Wall Street Analyst Weigh In

PCTY has been the subject of several research reports. Raymond James reaffirmed an "outperform" rating and set a $265.00 price objective (up previously from $215.00) on shares of Paylocity in a research note on Friday, February 7th. Citigroup raised Paylocity from a "neutral" rating to a "buy" rating and increased their price target for the company from $214.00 to $231.00 in a report on Thursday, January 16th. Barclays lowered their price objective on Paylocity from $231.00 to $204.00 and set an "equal weight" rating on the stock in a research note on Monday. JMP Securities raised their target price on Paylocity from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research note on Friday, February 7th. Finally, UBS Group boosted their price target on shares of Paylocity from $211.00 to $220.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $226.47.

Paylocity Stock Up 2.3 %

Shares of NASDAQ:PCTY traded up $4.18 during trading on Thursday, hitting $188.51. The company's stock had a trading volume of 473,876 shares, compared to its average volume of 452,271. The company has a market capitalization of $10.54 billion, a PE ratio of 48.34, a P/E/G ratio of 4.49 and a beta of 0.76. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current 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. The business has a 50 day moving average price of $191.66 and a two-hundred day moving average price of $194.93.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share 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, research analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Paylocity 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.