Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its holdings in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 3.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 56,127 shares of the software maker's stock after selling 1,909 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.10% of Paylocity worth $11,196,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its holdings in shares of 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 in the last quarter. Point72 Asset Management L.P. raised its position in Paylocity by 283.8% in the third quarter. Point72 Asset Management L.P. now owns 309,761 shares of the software maker's stock valued at $51,101,000 after purchasing an additional 229,057 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Paylocity by 297.6% during the third quarter. Victory Capital Management Inc. now owns 119,560 shares of the software maker's stock worth $19,724,000 after purchasing an additional 89,487 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Paylocity by 113.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 96,406 shares of the software maker's stock worth $15,904,000 after buying an additional 51,276 shares during the period. Finally, FMR LLC grew its stake in shares of Paylocity by 19.3% in the third quarter. FMR LLC now owns 272,764 shares of the software maker's stock valued at $44,998,000 after buying an additional 44,118 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

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Paylocity Stock Performance

Shares of NASDAQ:PCTY traded up $0.66 during trading on Monday, hitting $204.95. 662,354 shares of the company traded hands, compared to its average volume of 497,778. The stock has a market capitalization of $11.45 billion, a price-to-earnings ratio of 52.55, a PEG ratio of 4.49 and a beta of 0.95. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $223.80. 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 business's fifty day moving average is $203.37 and its 200-day moving average is $187.88.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly 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%. As a group, equities analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Paylocity

In related news, Director Steven I. Sarowitz sold 2,295 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $205.83, for a total value of $472,379.85. Following the completion of the transaction, the director now directly owns 8,426,714 shares of the company's stock, valued at $1,734,470,542.62. This represents a 0.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 63,849 shares of company stock worth $12,982,226. 21.91% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Jefferies Financial Group boosted their price target on Paylocity from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Mizuho upgraded shares of Paylocity from a "neutral" rating to an "outperform" rating and upped their target price for the company from $200.00 to $235.00 in a research note on Friday, January 31st. Raymond James reaffirmed an "outperform" rating and set a $265.00 price target (up previously 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. Finally, Piper Sandler reiterated an "overweight" rating and issued a $254.00 price target (up previously from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $233.25.

About Paylocity

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.