Capital Fund Management S.A. Lowers Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Capital Fund Management S.A. reduced its position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 20.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,215 shares of the software maker's stock after selling 6,083 shares during the quarter. Capital Fund Management S.A.'s holdings in Paylocity were worth $4,631,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of Paylocity by 81.9% in the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker's stock valued at $141,303,000 after purchasing an additional 385,625 shares during the last quarter. FMR LLC grew its holdings in Paylocity by 138.5% in the 4th quarter. FMR LLC now owns 650,599 shares of the software maker's stock valued at $129,775,000 after buying an additional 377,835 shares in the last quarter. Invesco Ltd. increased its stake in shares of Paylocity by 31.7% in the 4th quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker's stock worth $265,737,000 after acquiring an additional 320,319 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Paylocity by 190.0% during the 4th quarter. American Century Companies Inc. now owns 349,797 shares of the software maker's stock worth $69,774,000 after acquiring an additional 229,179 shares during the period. Finally, Trillium Asset Management LLC grew its holdings in shares of Paylocity by 194.7% in the fourth quarter. Trillium Asset Management LLC now owns 99,706 shares of the software maker's stock valued at $19,888,000 after purchasing an additional 65,869 shares during the period. Hedge funds and other institutional investors own 94.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Citigroup upgraded shares of Paylocity from a "neutral" rating to a "buy" rating and raised their price target for the stock from $214.00 to $231.00 in a report on Thursday, January 16th. Barclays increased their price target on Paylocity from $214.00 to $231.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. Mizuho decreased their target price on shares of Paylocity from $245.00 to $220.00 and set an "outperform" rating on the stock in a research report on Tuesday. Piper Sandler reiterated an "overweight" rating and set a $254.00 price target (up from $212.00) on shares of Paylocity in a research report on Thursday, February 6th. Finally, KeyCorp upped their price objective on shares of Paylocity from $220.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $229.82.

Paylocity Stock Up 0.1 %

Paylocity stock traded up $0.23 during trading on Friday, reaching $183.98. The stock had a trading volume of 260,735 shares, compared to its average volume of 480,927. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $223.80. The business has a 50 day moving average price of $194.20 and a 200 day moving average price of $194.49. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. The stock has a market cap of $10.28 billion, a PE ratio of 47.17, a P/E/G ratio of 4.49 and a beta of 0.76.

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 analysts' consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. On average, analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current year.

Insider Transactions at Paylocity

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

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.