Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,699 shares of the software maker's stock after selling 2,074 shares during the quarter. Corebridge Financial Inc. owned approximately 0.09% of Paylocity worth $9,913,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PCTY. Vanguard Group Inc. boosted its stake in Paylocity by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker's stock worth $803,745,000 after purchasing an additional 46,183 shares in the last quarter. Geode Capital Management LLC raised its position in Paylocity by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,048,806 shares of the software maker's stock worth $173,053,000 after buying an additional 36,590 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Paylocity by 81.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker's stock valued at $141,303,000 after acquiring an additional 385,625 shares during the period. Janus Henderson Group PLC increased its stake in shares of Paylocity by 3.5% in the third quarter. Janus Henderson Group PLC now owns 517,931 shares of the software maker's stock worth $85,444,000 after acquiring an additional 17,560 shares during the period. Finally, GW&K Investment Management LLC raised its holdings in shares of Paylocity by 0.6% during the fourth quarter. GW&K Investment Management LLC now owns 381,010 shares of the software maker's stock worth $76,000,000 after purchasing an additional 2,193 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

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Paylocity Price Performance

Shares of PCTY traded up $1.01 during trading hours on Monday, hitting $187.34. 422,544 shares of the stock were exchanged, compared to its average volume of 475,951. The stock's 50-day moving average price is $201.00 and its two-hundred day moving average price is $192.96. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market cap of $10.47 billion, a price-to-earnings ratio of 48.04, a price-to-earnings-growth ratio of 4.49 and a beta of 0.94.

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

Insider Buying and Selling at Paylocity

In other news, Director Steven I. Sarowitz sold 26,252 shares of the business's stock in a transaction dated 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 transaction, the director now owns 420,000 shares of the company's stock, valued at approximately $81,862,200. The trade was a 5.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 21.91% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PCTY shares. TD Cowen cut their price target on Paylocity from $235.00 to $228.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Jefferies Financial Group lifted their price target on Paylocity from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, February 7th. StockNews.com downgraded Paylocity from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Mizuho raised shares of Paylocity from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $200.00 to $235.00 in a research note on Friday, January 31st. Finally, Needham & Company LLC boosted their target price on shares of Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $233.25.

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.