Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Sei Investments Co.

Sei Investments Co. cut its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 3.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 179,185 shares of the software maker’s stock after selling 5,768 shares during the period. Sei Investments Co. owned about 0.32% of Paylocity worth $23,625,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PCTY. Rothschild Investment LLC acquired a new position in shares of Paylocity during the 2nd quarter worth about $40,000. J.Safra Asset Management Corp raised its holdings in shares of Paylocity by 80.0% during the first quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock valued at $42,000 after acquiring an additional 108 shares during the last quarter. GAMMA Investing LLC lifted 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 acquiring an additional 78 shares in the last quarter. RiverPark Advisors LLC boosted its stake 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 acquiring an additional 231 shares during the last quarter. Finally, Versant Capital Management Inc purchased a new stake in shares of Paylocity during the second quarter worth approximately $66,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Paylocity Stock Up 0.7 %

PCTY opened at $165.41 on Wednesday. The business has a fifty day simple moving average of $154.78 and a 200-day simple moving average of $154.68. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $206.28. The firm has a market cap of $9.33 billion, a P/E ratio of 48.08, a P/E/G ratio of 3.80 and a beta of 0.94.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PCTY shares. TD Cowen lowered their target price on shares of Paylocity from $180.00 to $153.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. JMP Securities reaffirmed a “market outperform” rating and set a $250.00 price objective on shares of Paylocity in a research note on Monday, August 5th. Robert W. Baird decreased their target price on shares of Paylocity from $225.00 to $195.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 18th. Truist Financial dropped their price target on Paylocity from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $200.00 price objective on shares of Paylocity in a research report on Thursday, September 5th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.13.

Insiders Place Their Bets

In related news, CEO Steven R. Beauchamp sold 49,442 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 1,745,022 shares of the company’s stock, valued at approximately $248,979,738.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Ryan Glenn sold 1,400 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 31,074 shares of the company’s stock, valued at $4,352,224.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 owns 1,745,022 shares of the company’s stock, valued at approximately $248,979,738.96. The disclosure for this sale can be found here. Insiders own 22.50% of the company’s stock.

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.