PNC Financial Services Group Inc. Has $482,000 Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

PNC Financial Services Group Inc. trimmed its position in Paylocity Holding Co. (NASDAQ:PCTY) by 9.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,923 shares of the software maker’s stock after selling 310 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Paylocity were worth $482,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Paylocity by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 4,158,224 shares of the software maker’s stock worth $685,483,000 after buying an additional 13,962 shares during the period. Wasatch Advisors LP boosted its holdings in shares of Paylocity by 13.1% in the fourth quarter. Wasatch Advisors LP now owns 1,774,746 shares of the software maker’s stock worth $292,567,000 after buying an additional 205,065 shares during the period. Capital International Investors boosted its holdings in shares of Paylocity by 119.0% in the fourth quarter. Capital International Investors now owns 1,211,021 shares of the software maker’s stock worth $199,637,000 after buying an additional 658,057 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Paylocity in the fourth quarter worth approximately $82,172,000. Finally, Westfield Capital Management Co. LP lifted its position in shares of Paylocity by 2.2% in the fourth quarter. Westfield Capital Management Co. LP now owns 483,015 shares of the software maker’s stock worth $79,625,000 after purchasing an additional 10,498 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Paylocity news, CAO Nicholas Rost sold 331 shares of Paylocity stock in a transaction 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 sale, the chief accounting officer now 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 can be accessed through this link. Corporate insiders own 22.50% of the company’s stock.

Paylocity Trading Up 0.2 %

Shares of Paylocity stock opened at $132.21 on Friday. The company’s fifty day simple moving average is $151.84 and its 200-day simple moving average is $160.44. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 38.43, a PEG ratio of 2.44 and a beta of 0.89. Paylocity Holding Co. has a 1 year low of $131.00 and a 1 year high of $230.52.

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

Wall Street Analyst Weigh In

PCTY has been the subject of a number of research analyst reports. Piper Sandler reduced their price target on shares of Paylocity from $210.00 to $194.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Citigroup reduced their price target on shares of Paylocity from $178.00 to $155.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Jefferies Financial Group reduced their price target on shares of Paylocity from $180.00 to $145.00 and set a “hold” rating for the company in a research report on Monday. Needham & Company LLC reissued a “buy” rating and issued a $200.00 price target on shares of Paylocity in a research report on Friday, May 3rd. Finally, TD Cowen reduced 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, June 20th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Paylocity has a consensus rating of “Moderate Buy” and a consensus target price of $190.65.

Paylocity 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.