Clearbridge Investments LLC cut its holdings in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 16.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 287,713 shares of the software maker's stock after selling 57,851 shares during the quarter. Clearbridge Investments LLC owned approximately 0.52% of Paylocity worth $57,390,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Certuity LLC bought a new position in shares of Paylocity in the fourth quarter worth approximately $232,000. Edgestream Partners L.P. lifted its position in Paylocity by 222.3% in the 3rd quarter. Edgestream Partners L.P. now owns 10,837 shares of the software maker's stock valued at $1,788,000 after acquiring an additional 7,475 shares in the last quarter. Barclays PLC boosted its stake in 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 purchasing an additional 5,609 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Paylocity by 5,742.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,842 shares of the software maker's stock worth $1,165,000 after purchasing an additional 5,742 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Paylocity by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 282,426 shares of the software maker's stock valued at $46,592,000 after purchasing an additional 4,697 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
PCTY has been the subject of a number of research analyst reports. UBS Group lifted their price target on shares of Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Raymond James restated an "outperform" rating and issued a $265.00 price target (up from $215.00) on shares of Paylocity in a research note on Friday, February 7th. StockNews.com downgraded Paylocity from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Citigroup upgraded shares of Paylocity from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $214.00 to $231.00 in a research note on Thursday, January 16th. Finally, TD Cowen reduced their target price on shares of Paylocity from $235.00 to $228.00 and set a "buy" rating for the company in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $233.25.
Check Out Our Latest Stock Report on Paylocity
Insider Buying and Selling
In other news, Director Steven I. Sarowitz sold 26,252 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at approximately $81,862,200. This represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 21.91% of the stock is currently owned by corporate insiders.
Paylocity Price Performance
NASDAQ PCTY traded up $0.48 on Wednesday, reaching $190.31. The company had a trading volume of 391,346 shares, compared to its average volume of 475,700. 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 capitalization of $10.64 billion, a PE ratio of 48.80, a price-to-earnings-growth ratio of 4.49 and a beta of 0.76. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $223.80. The firm's 50 day moving average price is $200.85 and its 200 day moving average price is $193.17.
Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings data 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 return on equity of 22.45% and a net margin of 14.76%. As a group, equities analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current year.
Paylocity 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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