Tredje AP fonden Reduces Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Tredje AP fonden trimmed its position in Paylocity Holding Co. (NASDAQ:PCTY) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,258 shares of the software maker’s stock after selling 110 shares during the quarter. Tredje AP fonden’s holdings in Paylocity were worth $957,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sei Investments Co. raised its position in Paylocity by 25.2% during the 4th quarter. Sei Investments Co. now owns 192,028 shares of the software maker’s stock worth $31,654,000 after buying an additional 38,613 shares during the last quarter. Evoke Wealth LLC purchased a new stake in Paylocity in the fourth quarter valued at $2,507,000. Wells Fargo & Company MN grew its position in Paylocity by 274.8% during the 4th quarter. Wells Fargo & Company MN now owns 65,010 shares of the software maker’s stock worth $10,717,000 after purchasing an additional 47,663 shares during the period. FORA Capital LLC purchased a new position in shares of Paylocity during the 1st quarter valued at about $1,540,000. Finally, Royal London Asset Management Ltd. acquired a new position in shares of Paylocity in the 4th quarter valued at about $1,938,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Analyst Ratings Changes

PCTY has been the subject of several recent research reports. Citigroup reduced their price target on Paylocity from $178.00 to $155.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Stifel Nicolaus decreased their target price on shares of Paylocity from $205.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. KeyCorp dropped their price target on shares of Paylocity from $200.00 to $171.00 and set an “overweight” rating on the stock in a research report on Friday, July 19th. Jefferies Financial Group decreased their price objective on shares of Paylocity from $180.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Finally, Piper Sandler dropped their target price on Paylocity from $194.00 to $172.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Paylocity currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.13.

Paylocity Stock Down 0.5 %

Shares of PCTY opened at $162.58 on Friday. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $206.28. The stock has a market cap of $9.03 billion, a PE ratio of 47.26, a price-to-earnings-growth ratio of 3.80 and a beta of 0.94. The firm’s fifty day moving average is $154.14 and its two-hundred day moving average is $154.83.

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

Insider Activity at Paylocity

In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of the company’s 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 approximately $248,979,738.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Paylocity news, CEO Steven R. Beauchamp sold 49,442 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $142.68, for a total value of $7,054,384.56. Following the transaction, the chief executive officer now directly owns 1,745,022 shares in the company, valued at approximately $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 firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $140.06, for a total transaction of $196,084.00. Following the sale, the chief financial officer now owns 31,074 shares of the company’s stock, valued at approximately $4,352,224.44. 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.