Hel Ved Capital Management Ltd Sells 8,235 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Hel Ved Capital Management Ltd decreased its stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 59.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,505 shares of the software maker's stock after selling 8,235 shares during the quarter. Hel Ved Capital Management Ltd's holdings in Paylocity were worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Paylocity in the 4th quarter valued at approximately $29,000. UMB Bank n.a. raised its holdings in Paylocity by 41.1% in the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock worth $49,000 after purchasing an additional 72 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Paylocity by 489.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock worth $54,000 after purchasing an additional 225 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Paylocity by 29.9% in the 4th 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 in the last quarter. Finally, Quarry LP raised its stake in 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 period. Institutional investors own 94.76% of the company's stock.

Paylocity Stock Performance

NASDAQ:PCTY traded down $6.66 during mid-day trading on Thursday, hitting $181.09. The stock had a trading volume of 151,819 shares, compared to its average volume of 459,538. The company's 50 day simple moving average is $197.06 and its 200 day simple moving average is $193.78. The stock has a market cap of $10.12 billion, a price-to-earnings ratio of 46.39, a PEG 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 twelve month low of $129.94 and a twelve month high of $223.80.

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

Analyst Ratings Changes

A number of research firms have recently commented on PCTY. Piper Sandler reaffirmed an "overweight" rating and set a $254.00 price target (up previously from $212.00) on shares of Paylocity in a research report on Thursday, February 6th. Jefferies Financial Group raised their target price on shares of Paylocity from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Citigroup upgraded shares of Paylocity from a "neutral" rating to a "buy" rating and upped their price target for the company from $214.00 to $231.00 in a report on Thursday, January 16th. Stifel Nicolaus raised their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Finally, Raymond James reaffirmed an "outperform" rating and issued a $265.00 price objective (up from $215.00) on shares of Paylocity 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 stock. According to MarketBeat.com, Paylocity has a consensus rating of "Moderate Buy" and a consensus target price of $233.25.

Insider Transactions at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the transaction, the director now owns 420,000 shares in the company, valued at $81,862,200. This trade represents a 5.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.91% of the stock is currently owned by corporate insiders.

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.