Paylocity Holding Co. (NASDAQ:PCTY) Stock Holdings Lowered by Vontobel Holding Ltd.

Vontobel Holding Ltd. trimmed its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY) by 49.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,958 shares of the software maker’s stock after selling 3,822 shares during the period. Vontobel Holding Ltd.’s holdings in Paylocity were worth $653,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Washington Capital Management Inc. boosted its stake in shares of Paylocity by 3.1% during the 3rd quarter. Washington Capital Management Inc. now owns 5,700 shares of the software maker’s stock worth $940,000 after acquiring an additional 170 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Paylocity during the third quarter valued at $290,000. Creative Planning acquired a new position in shares of Paylocity in the 3rd quarter valued at $267,000. UMB Bank n.a. increased its stake in Paylocity by 1,650.0% in the 3rd quarter. UMB Bank n.a. now owns 175 shares of the software maker’s stock worth $29,000 after purchasing an additional 165 shares in the last quarter. Finally, RK Asset Management LLC acquired a new stake in Paylocity during the 3rd quarter worth about $5,344,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insider Buying and Selling

In related news, SVP Rachit Lohani sold 658 shares of Paylocity stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $162.83, for a total value of $107,142.14. Following the transaction, the senior vice president now owns 39,764 shares in the company, valued at $6,474,772.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 22.50% of the stock is owned by insiders.

Paylocity Trading Down 0.4 %

PCTY stock opened at $171.45 on Tuesday. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $194.65. The company has a fifty day simple moving average of $161.24 and a 200 day simple moving average of $154.30. The firm has a market cap of $9.68 billion, a PE ratio of 49.84, a PEG ratio of 4.07 and a beta of 0.95.

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

Wall Street Analyst Weigh In

Several research analysts have commented on PCTY shares. Barclays raised their target price on shares of Paylocity from $156.00 to $174.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. KeyCorp lifted their price objective on shares of Paylocity from $171.00 to $182.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group reduced their target price on Paylocity from $180.00 to $145.00 and set a “hold” rating for the company in a report on Monday, June 24th. BTIG Research lowered their price target on Paylocity from $200.00 to $185.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Truist Financial reduced their price objective on Paylocity from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $182.40.

Paylocity Company Profile

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.