Paylocity Holding Co. (NASDAQ:PCTY) Stock Position Trimmed by Fisher Asset Management LLC

Fisher Asset Management LLC cut its position in Paylocity Holding Co. (NASDAQ:PCTY) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,752 shares of the software maker’s stock after selling 1,235 shares during the quarter. Fisher Asset Management LLC owned about 0.13% of Paylocity worth $11,993,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PCTY. American National Bank bought a new stake in Paylocity in the 4th quarter valued at about $31,000. GAMMA Investing LLC bought a new stake in shares of Paylocity during the 4th quarter worth about $36,000. Principal Securities Inc. bought a new stake in shares of Paylocity during the 4th quarter worth about $41,000. V Square Quantitative Management LLC raised its position in shares of Paylocity by 84.9% during the 4th quarter. V Square Quantitative Management LLC now owns 466 shares of the software maker’s stock worth $77,000 after buying an additional 214 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of Paylocity during the 4th quarter worth about $93,000. 94.76% of the stock is currently owned by institutional investors.

Insider Activity at Paylocity

In related news, CAO Nicholas Rost sold 331 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $138.73, for a total transaction of $45,919.63. Following the transaction, the chief accounting officer now directly owns 4,751 shares of the company’s stock, valued at $659,106.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 22.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on PCTY. Citigroup dropped their price target on shares of Paylocity from $178.00 to $155.00 and set a “neutral” rating on the stock in a research report on Tuesday. Stifel Nicolaus dropped their price target on shares of Paylocity from $205.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Piper Sandler dropped their price target on shares of Paylocity from $210.00 to $194.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. KeyCorp boosted their target price on shares of Paylocity from $186.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, Barclays boosted their target price on shares of Paylocity from $166.00 to $178.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $194.29.

Paylocity Price Performance

Paylocity stock opened at $133.87 on Thursday. The firm’s 50 day simple moving average is $155.25 and its 200-day simple moving average is $161.33. The company has a market cap of $7.55 billion, a P/E ratio of 38.92, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89. Paylocity Holding Co. has a fifty-two week low of $133.72 and a fifty-two week high of $230.52.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, May 2nd. The software maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.29. Paylocity had a net margin of 14.42% and a return on equity of 22.08%. The business had revenue of $401.28 million for the quarter, compared to the consensus estimate of $396.93 million. On average, analysts expect that Paylocity Holding Co. will post 3.95 EPS for the current fiscal year.

Paylocity Company Profile

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.