Mirae Asset Global Investments Co. Ltd. Has $27,000 Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Mirae Asset Global Investments Co. Ltd. lessened its stake in Paylocity Holding Co. (NASDAQ:PCTY) by 37.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 137 shares of the software maker’s stock after selling 81 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Paylocity were worth $27,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new stake in shares of Paylocity during the 3rd quarter worth approximately $39,000. UMB Bank n.a. grew its holdings in Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after purchasing an additional 72 shares during the period. Signaturefd LLC grew its holdings in Paylocity by 121.0% during the third quarter. Signaturefd LLC now owns 305 shares of the software maker’s stock valued at $50,000 after purchasing an additional 167 shares during the period. Quarry LP grew its holdings in Paylocity by 149.2% during the third quarter. Quarry LP now owns 309 shares of the software maker’s stock valued at $51,000 after purchasing an additional 185 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Paylocity by 43.3% during the fourth quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock valued at $77,000 after purchasing an additional 116 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Needham & Company LLC lifted their price target on shares of Paylocity from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 7th. BMO Capital Markets lifted their price target on shares of Paylocity from $175.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. KeyCorp lifted their price target on shares of Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Barclays lifted their price target on shares of Paylocity from $214.00 to $231.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $233.25.

Insider Buying and Selling

In related news, CFO Ryan Glenn sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $205.40, for a total value of $534,040.00. Following the transaction, the chief financial officer now directly owns 48,150 shares in the company, valued at approximately $9,890,010. This represents a 5.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Nicholas Rost sold 212 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $193.29, for a total transaction of $40,977.48. Following the completion of the transaction, the chief accounting officer now owns 7,364 shares in the company, valued at approximately $1,423,387.56. This trade represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 126,434 shares of company stock valued at $25,636,985. 21.91% of the stock is owned by insiders.

Paylocity Price Performance

Shares of PCTY opened at $216.96 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.29. The business’s fifty day moving average is $201.94 and its 200 day moving average is $183.76. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80. The stock has a market cap of $12.10 billion, a P/E ratio of 55.63, a P/E/G ratio of 5.19 and a beta of 0.95.

Paylocity (NASDAQ:PCTY) last released its earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.93% and a net margin of 14.76%. Sell-side analysts anticipate that Paylocity Holding Co. will post 4.46 earnings per share for the current fiscal year.

About Paylocity

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.