Wells Fargo & Company MN Sells 1,430 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Wells Fargo & Company MN trimmed its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,617 shares of the software maker's stock after selling 1,430 shares during the quarter. Wells Fargo & Company MN owned about 0.11% of Paylocity worth $11,892,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Paylocity by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker's stock valued at $1,916,000 after purchasing an additional 49 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in Paylocity by 29.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock valued at $55,000 after purchasing an additional 63 shares during the last quarter. UMB Bank n.a. boosted its holdings in Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock valued at $49,000 after purchasing an additional 72 shares during the period. HighPoint Advisor Group LLC raised its position in shares of Paylocity by 5.1% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,559 shares of the software maker's stock valued at $326,000 after buying an additional 75 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Paylocity by 2.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,156 shares of the software maker's stock valued at $630,000 after buying an additional 77 shares during the period. 94.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the completion of the transaction, the director now owns 420,000 shares of the company's stock, valued at $81,862,200. This represents a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 21.91% of the company's stock.

Wall Street Analysts Forecast Growth

PCTY has been the subject of a number of research reports. StockNews.com downgraded Paylocity from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Stifel Nicolaus boosted their price target on shares of Paylocity from $220.00 to $250.00 and gave the company a "buy" rating in a report on Friday, February 7th. Citigroup raised shares of Paylocity from a "neutral" rating to a "buy" rating and upped their target price for the company from $214.00 to $231.00 in a research note on Thursday, January 16th. Barclays increased their price objective on Paylocity from $214.00 to $231.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. Finally, UBS Group lifted their target price on shares of Paylocity from $211.00 to $220.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Paylocity currently has an average rating of "Moderate Buy" and a consensus price target of $229.82.

Paylocity Trading Up 0.1 %

Shares of PCTY stock traded up $0.23 on Friday, reaching $183.98. The company had a trading volume of 260,735 shares, compared to its average volume of 480,927. The company has a 50-day moving average of $194.20 and a 200-day moving average of $194.49. Paylocity Holding Co. has a 12 month low of $129.94 and a 12 month high of $223.80. The stock has a market cap of $10.28 billion, a PE ratio of 47.17, a PEG ratio of 4.49 and a beta of 0.76. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its 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 return on equity of 22.45% and a net margin of 14.76%. On average, equities analysts forecast 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.