Paylocity Holding Co. (NASDAQ:PCTY) is Wasatch Advisors LP's 5th Largest Position

Wasatch Advisors LP lessened its stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,344,249 shares of the software maker's stock after selling 161,190 shares during the period. Paylocity accounts for approximately 2.3% of Wasatch Advisors LP's portfolio, making the stock its 5th largest position. Wasatch Advisors LP owned approximately 4.20% of Paylocity worth $467,607,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Paylocity in the 4th quarter valued at about $29,000. UMB Bank n.a. lifted its stake in Paylocity by 41.1% in the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock valued at $49,000 after buying an additional 72 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Paylocity by 489.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock valued at $54,000 after acquiring an additional 225 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of Paylocity by 29.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock worth $55,000 after acquiring an additional 63 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Paylocity by 43.3% in the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker's stock valued at $77,000 after acquiring an additional 116 shares during the period. Hedge funds and other institutional investors own 94.76% of the company's stock.

Insider Buying and Selling at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.91, for a total value of $5,116,777.32. Following the sale, the director now directly owns 420,000 shares of the company's stock, valued at approximately $81,862,200. This trade represents a 5.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 21.91% of the company's stock.

Analyst Upgrades and Downgrades

PCTY has been the subject of a number of recent research reports. Needham & Company LLC increased their price target on shares of Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. KeyCorp increased their target price on shares of Paylocity from $220.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Mizuho dropped their price target on Paylocity from $245.00 to $220.00 and set an "outperform" rating on the stock in a research report on Tuesday. Barclays upped their price objective on Paylocity from $214.00 to $231.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Finally, TD Cowen lowered their target price on Paylocity from $235.00 to $228.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $229.82.

Paylocity Price Performance

Shares of NASDAQ PCTY traded up $0.23 during midday trading on Friday, hitting $183.98. The company had a trading volume of 260,735 shares, compared to its average volume of 481,072. The firm has a market capitalization of $10.28 billion, a price-to-earnings ratio of 47.17, a price-to-earnings-growth ratio of 4.49 and a beta of 0.76. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80. The business has a 50-day simple moving average of $193.70 and a two-hundred day simple moving average of $194.63. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly 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 net margin of 14.76% and a return on equity of 22.45%. Equities research analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

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.