Wasatch Advisors Inc. decreased its holdings in Paylocity Holding Corp (NASDAQ:PCTY) by 0.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 861,387 shares of the software maker’s stock after selling 2,378 shares during the period. Wasatch Advisors Inc. owned approximately 1.64% of Paylocity worth $42,053,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of PCTY. Ameritas Investment Partners Inc. grew its position in Paylocity by 22.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,282 shares of the software maker’s stock valued at $103,000 after acquiring an additional 421 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Paylocity by 562.6% during the second quarter. BNP Paribas Arbitrage SA now owns 3,293 shares of the software maker’s stock worth $149,000 after buying an additional 2,796 shares in the last quarter. Bank of Montreal Can grew its position in shares of Paylocity by 1.2% during the second quarter. Bank of Montreal Can now owns 3,419 shares of the software maker’s stock worth $154,000 after buying an additional 42 shares in the last quarter. Turner Investments LLC acquired a new stake in shares of Paylocity during the second quarter worth approximately $158,000. Finally, Nomura Holdings Inc. acquired a new position in Paylocity in the second quarter worth $208,000. Hedge funds and other institutional investors own 59.84% of the company’s stock.
In other news, CEO Steven R. Beauchamp sold 23,530 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $50.25, for a total transaction of $1,182,382.50. Following the sale, the chief executive officer now owns 2,253,978 shares in the company, valued at $113,262,394.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven R. Beauchamp sold 24,530 shares of the company’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $50.24, for a total value of $1,232,387.20. The disclosure for this sale can be found here. Insiders have sold 1,429,734 shares of company stock worth $66,231,695 in the last 90 days. Company insiders own 48.80% of the company’s stock.
A number of equities analysts have commented on PCTY shares. ValuEngine raised shares of Paylocity from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research cut Paylocity from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Robert W. Baird raised their target price on Paylocity from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Bank of America lifted their price objective on shares of Paylocity from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, October 24th. Finally, Mizuho reiterated a “hold” rating and issued a $45.00 price target on shares of Paylocity in a research report on Thursday, October 12th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Paylocity presently has a consensus rating of “Buy” and a consensus target price of $52.92.
Shares of Paylocity Holding Corp (NASDAQ:PCTY) traded up $0.13 during mid-day trading on Thursday, hitting $45.02. The stock had a trading volume of 226,454 shares, compared to its average volume of 292,340. Paylocity Holding Corp has a one year low of $29.69 and a one year high of $53.96. The firm has a market capitalization of $2,380.00, a price-to-earnings ratio of 203.54, a PEG ratio of 5.88 and a beta of 2.11.
Paylocity (NASDAQ:PCTY) last announced its quarterly earnings results on Thursday, November 2nd. The software maker reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.17. Paylocity had a return on equity of 7.98% and a net margin of 3.11%. The firm had revenue of $81.50 million for the quarter, compared to analysts’ expectations of $80.88 million. During the same period in the prior year, the business posted $0.07 earnings per share. The business’s revenue was up 25.4% compared to the same quarter last year. sell-side analysts predict that Paylocity Holding Corp will post 0.32 earnings per share for the current fiscal year.
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Paylocity Company Profile
Paylocity Holding Corporation is a cloud-based provider of payroll and human capital management (HCM), software solutions for medium-sized organizations. The Company’s services are provided in a software-as-a-service delivery model utilizing its cloud-based platform. The cloud-based platform provides a suite of applications using a multi-tenant architecture.
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