First Hawaiian Bank Has $391,000 Position in Paylocity Holding Co. (NASDAQ:PCTY)

First Hawaiian Bank decreased its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 4.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,275 shares of the software maker’s stock after selling 97 shares during the quarter. First Hawaiian Bank’s holdings in Paylocity were worth $391,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCTY. American National Bank acquired a new stake in shares of Paylocity during the 4th quarter worth about $31,000. GAMMA Investing LLC bought a new stake in shares of Paylocity during the fourth quarter worth approximately $36,000. Principal Securities Inc. bought a new position in shares of Paylocity during the fourth quarter worth approximately $41,000. V Square Quantitative Management LLC increased its stake in shares of Paylocity by 84.9% during the fourth quarter. V Square Quantitative Management LLC now owns 466 shares of the software maker’s stock worth $77,000 after purchasing an additional 214 shares during the period. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in Paylocity during the 4th quarter worth approximately $93,000. 94.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PCTY shares. Piper Sandler lowered their price objective on Paylocity from $210.00 to $194.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. KeyCorp lifted their price objective on shares of Paylocity from $186.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Stifel Nicolaus decreased their target price 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. TD Cowen dropped their price target on shares of Paylocity from $180.00 to $153.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Robert W. Baird reduced their price target on Paylocity from $225.00 to $195.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 18th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.71.

Insider Activity at Paylocity

In other Paylocity news, CAO Nicholas Rost sold 331 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $138.73, for a total value of $45,919.63. Following the completion of the transaction, the chief accounting officer now directly owns 4,751 shares in the company, valued at $659,106.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 22.50% of the stock is currently owned by company insiders.

Paylocity Trading Up 0.1 %

PCTY stock opened at $135.98 on Friday. The stock has a market capitalization of $7.67 billion, a P/E ratio of 39.53, a price-to-earnings-growth ratio of 2.48 and a beta of 0.89. The firm has a 50-day moving average price of $153.94 and a 200-day moving average price of $161.06. Paylocity Holding Co. has a 12 month low of $132.61 and a 12 month high of $230.52.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, May 2nd. The software maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.28 by $0.29. The business had revenue of $401.28 million during the quarter, compared to the consensus estimate of $396.93 million. Paylocity had a net margin of 14.42% and a return on equity of 22.08%. As a group, equities analysts predict that Paylocity Holding Co. will post 3.95 EPS for the current fiscal year.

About Paylocity

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.