Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lowered its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 12.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,145,809 shares of the software maker's stock after selling 600,704 shares during the period. Price T Rowe Associates Inc. MD owned about 7.44% of Paylocity worth $826,966,000 as of its most recent filing with the SEC.

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

Insider Transactions at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the stock in a transaction on 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 completion of the sale, the director now owns 420,000 shares in the company, valued at approximately $81,862,200. This represents a 5.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 21.91% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PCTY shares. Jefferies Financial Group upped their target price on Paylocity from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Raymond James reissued an "outperform" rating and issued a $265.00 price target (up from $215.00) on shares of Paylocity in a research report on Friday, February 7th. Barclays dropped their price target on Paylocity from $231.00 to $204.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Stifel Nicolaus boosted their price target on Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Finally, UBS Group boosted their price target on Paylocity from $211.00 to $220.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $226.47.

Paylocity Stock Performance

Shares of NASDAQ PCTY traded up $1.64 during midday trading on Tuesday, hitting $191.46. 58,419 shares of the stock traded hands, compared to its average volume of 478,374. The firm has a 50-day moving average of $190.10 and a two-hundred day moving average of $195.91. The firm has a market capitalization of $10.70 billion, a P/E ratio of 49.09, a PEG ratio of 4.49 and a beta of 0.76. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.60). Paylocity had a net margin of 14.76% and a return on equity of 22.45%. On average, equities analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current fiscal 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.