DekaBank Deutsche Girozentrale Has $850,000 Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

DekaBank Deutsche Girozentrale boosted its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,343 shares of the software maker’s stock after buying an additional 249 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Paylocity were worth $850,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. WCM Investment Management LLC increased its position in Paylocity by 2.3% during the first quarter. WCM Investment Management LLC now owns 3,053 shares of the software maker’s stock worth $525,000 after buying an additional 69 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Paylocity by 34.7% in the first quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock valued at $52,000 after purchasing an additional 78 shares during the last quarter. Securian Asset Management Inc. grew its position in shares of Paylocity by 2.8% in the fourth quarter. Securian Asset Management Inc. now owns 3,655 shares of the software maker’s stock valued at $603,000 after purchasing an additional 100 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Paylocity by 3.6% in the first quarter. Daiwa Securities Group Inc. now owns 2,900 shares of the software maker’s stock valued at $498,000 after purchasing an additional 100 shares during the last quarter. Finally, J.Safra Asset Management Corp grew its position in shares of Paylocity by 80.0% in the first quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock valued at $42,000 after purchasing an additional 108 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

PCTY has been the topic of several research reports. Jefferies Financial Group decreased their target price on Paylocity from $180.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Truist Financial decreased their target price on Paylocity from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $200.00 target price on shares of Paylocity in a research report on Thursday, September 5th. TD Cowen reduced their price target on Paylocity from $180.00 to $153.00 and set a “buy” rating on the stock in a research report on Thursday, June 20th. 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. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $179.13.

Insider Activity

In other news, CFO Ryan Glenn sold 1,400 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $140.06, for a total value of $196,084.00. Following the completion of the transaction, the chief financial officer now directly owns 31,074 shares in the company, valued at approximately $4,352,224.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Steven R. Beauchamp sold 49,442 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $142.68, for a total value of $7,054,384.56. Following the completion of the sale, the chief executive officer now directly owns 1,745,022 shares in the company, valued at $248,979,738.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ryan Glenn sold 1,400 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $140.06, for a total value of $196,084.00. Following the completion of the sale, the chief financial officer now owns 31,074 shares of the company’s stock, valued at $4,352,224.44. The disclosure for this sale can be found here. 22.50% of the stock is owned by corporate insiders.

Paylocity Price Performance

NASDAQ PCTY opened at $163.37 on Friday. The business has a fifty day moving average price of $153.69 and a two-hundred day moving average price of $154.89. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $206.28. The stock has a market capitalization of $9.22 billion, a PE ratio of 47.49, a PEG ratio of 3.77 and a beta of 0.94.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings results on Thursday, August 1st. The software maker reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.19. Paylocity had a return on equity of 22.17% and a net margin of 14.74%. The company had revenue of $357.30 million during the quarter, compared to analysts’ expectations of $350.29 million. During the same period in the prior year, the company earned $0.76 EPS. Paylocity’s revenue was up 15.8% compared to the same quarter last year. As a group, sell-side analysts expect that Paylocity Holding Co. will post 4.51 earnings per share for the current 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.