Mutual of America Capital Management LLC Sells 964 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Mutual of America Capital Management LLC lessened its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 3.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,879 shares of the software maker’s stock after selling 964 shares during the period. Mutual of America Capital Management LLC’s holdings in Paylocity were worth $3,280,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Rothschild Investment LLC bought a new stake in shares of Paylocity during the 2nd quarter valued at $40,000. J.Safra Asset Management Corp increased its position in Paylocity by 80.0% in the first quarter. J.Safra Asset Management Corp now owns 243 shares of the software maker’s stock worth $42,000 after buying an additional 108 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Paylocity by 34.7% in the first quarter. GAMMA Investing LLC now owns 303 shares of the software maker’s stock worth $52,000 after buying an additional 78 shares during the period. RiverPark Advisors LLC lifted its position in shares of Paylocity by 152.0% during the 1st quarter. RiverPark Advisors LLC now owns 383 shares of the software maker’s stock valued at $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 during the 2nd quarter valued at approximately $66,000. 94.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PCTY. Robert W. Baird lowered their price target on shares of Paylocity from $225.00 to $195.00 and set an “outperform” rating on the stock in a report on Tuesday, June 18th. Piper Sandler decreased their price target on Paylocity from $194.00 to $172.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. BTIG Research lowered their price objective on Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Jefferies Financial Group cut their target price on Paylocity from $180.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Finally, JMP Securities restated a “market outperform” rating and issued a $250.00 price target on shares of Paylocity in a research note on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $179.13.

Insider Transactions at Paylocity

In other news, CFO Ryan Glenn sold 1,400 shares of the business’s 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 sale, the chief financial officer now owns 31,074 shares in the company, valued at $4,352,224.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Steven R. Beauchamp sold 49,442 shares of the company’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 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Ryan Glenn sold 1,400 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $140.06, for a total transaction of $196,084.00. Following the sale, the chief financial officer now directly 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. Corporate insiders own 22.50% of the company’s stock.

Paylocity Price Performance

Shares of NASDAQ PCTY opened at $164.19 on Tuesday. The stock has a market capitalization of $9.27 billion, a P/E ratio of 47.73, a PEG ratio of 3.80 and a beta of 0.94. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $206.28. The business’s 50 day moving average is $154.49 and its two-hundred day moving average is $154.66.

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 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 the consensus estimate of $350.29 million. During the same period last year, the company earned $0.76 earnings per share. Paylocity’s revenue was up 15.8% on a year-over-year basis. As a group, equities research analysts anticipate that Paylocity Holding Co. will post 4.51 earnings per share for the current fiscal year.

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.