T. Rowe Price Investment Management Inc. Cuts Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

T. Rowe Price Investment Management Inc. trimmed its position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 1.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,974,010 shares of the software maker's stock after selling 43,090 shares during the quarter. T. Rowe Price Investment Management Inc. owned 7.13% of Paylocity worth $792,696,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PCTY. JPMorgan Chase & Co. lifted its position in shares of Paylocity by 81.9% during the third quarter. JPMorgan Chase & Co. now owns 856,536 shares of the software maker's stock worth $141,303,000 after purchasing an additional 385,625 shares in the last quarter. FMR LLC lifted its holdings in Paylocity by 138.5% during the 4th quarter. FMR LLC now owns 650,599 shares of the software maker's stock worth $129,775,000 after buying an additional 377,835 shares in the last quarter. Invesco Ltd. lifted its holdings in Paylocity by 31.7% during the 4th quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker's stock worth $265,737,000 after buying an additional 320,319 shares in the last quarter. American Century Companies Inc. boosted its position in Paylocity by 190.0% in the 4th quarter. American Century Companies Inc. now owns 349,797 shares of the software maker's stock valued at $69,774,000 after buying an additional 229,179 shares during the period. Finally, Anomaly Capital Management LP purchased a new stake in shares of Paylocity during the fourth quarter worth $19,105,000. 94.76% of the stock is owned by institutional investors and hedge funds.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $182.99 on Wednesday. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $223.80. The stock has a market capitalization of $10.23 billion, a price-to-earnings ratio of 46.92, a PEG ratio of 4.49 and a beta of 0.76. The company has a 50-day simple moving average of $192.32 and a 200-day simple moving average of $195.00. 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 (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The software maker reported $0.82 earnings per share 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%. On average, analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PCTY shares. Scotiabank started coverage on Paylocity in a research note on Wednesday, April 16th. They set a "sector perform" rating and a $190.00 target price for the company. UBS Group upped their target price 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. JMP Securities lifted their price target on shares of Paylocity from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research note on Friday, February 7th. StockNews.com lowered shares of Paylocity from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, Piper Sandler reiterated an "overweight" rating and set a $254.00 target price (up previously from $212.00) on shares of Paylocity in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $226.47.

Insider Activity at Paylocity

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

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.

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