Amalgamated Bank Sells 1,533 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Amalgamated Bank cut its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 6.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,506 shares of the software maker’s stock after selling 1,533 shares during the period. Amalgamated Bank’s holdings in Paylocity were worth $2,967,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PCTY. Rothschild Investment LLC bought a new position in shares of Paylocity in the second quarter worth $40,000. J.Safra Asset Management Corp boosted its stake in Paylocity by 80.0% in the 1st quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock worth $42,000 after purchasing an additional 108 shares during the period. GAMMA Investing LLC grew its holdings in Paylocity by 34.7% during the 1st quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock valued at $52,000 after buying an additional 78 shares in the last quarter. RiverPark Advisors LLC lifted its holdings in shares of Paylocity by 152.0% in the first quarter. RiverPark Advisors LLC now owns 383 shares of the software maker’s stock worth $66,000 after buying an additional 231 shares in the last quarter. Finally, Versant Capital Management Inc bought a new position in shares of Paylocity in the second quarter valued at approximately $66,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on PCTY. Barclays lowered their target price on shares of Paylocity from $160.00 to $156.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. BTIG Research decreased their target price on Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Jefferies Financial Group dropped their price target on Paylocity from $180.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Piper Sandler decreased their price objective on shares of Paylocity from $194.00 to $172.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Truist Financial dropped their target price on shares of Paylocity from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $179.13.

Insider Buying and Selling at Paylocity

In other news, CEO Steven R. Beauchamp sold 49,442 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the transaction, the chief executive officer now directly owns 1,745,022 shares of the company’s stock, valued at $248,979,738.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Steven R. Beauchamp sold 49,442 shares of Paylocity stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $142.68, for a total transaction of $7,054,384.56. Following the sale, the chief executive officer now owns 1,745,022 shares of the company’s stock, valued at approximately $248,979,738.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ryan Glenn sold 1,400 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $140.06, for a total transaction of $196,084.00. Following the completion of the transaction, the chief financial officer now directly 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 currently owned by corporate insiders.

Paylocity Stock Performance

Shares of Paylocity stock opened at $164.19 on Tuesday. The company’s 50 day moving average price is $154.49 and its 200-day moving average price is $154.66. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $206.28. The stock has a market capitalization of $9.27 billion, a price-to-earnings ratio of 47.73, a P/E/G ratio of 3.80 and a beta of 0.94.

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

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.