Deutsche Bank AG reduced its stake in shares of Paylocity Holding Corp (NASDAQ:PCTY) by 17.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 195,952 shares of the software maker’s stock after selling 42,485 shares during the period. Deutsche Bank AG’s holdings in Paylocity were worth $11,797,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. FTB Advisors Inc. lifted its stake in shares of Paylocity by 25.1% during the fourth quarter. FTB Advisors Inc. now owns 642 shares of the software maker’s stock worth $38,000 after buying an additional 129 shares during the period. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Paylocity by 34.8% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 774 shares of the software maker’s stock worth $47,000 after buying an additional 200 shares during the period. OLD National Bancorp IN lifted its stake in shares of Paylocity by 7.0% during the fourth quarter. OLD National Bancorp IN now owns 4,048 shares of the software maker’s stock worth $244,000 after buying an additional 266 shares during the period. Renaissance Group LLC lifted its stake in shares of Paylocity by 4.3% during the fourth quarter. Renaissance Group LLC now owns 8,360 shares of the software maker’s stock worth $503,000 after buying an additional 342 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Paylocity by 23.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,141 shares of the software maker’s stock worth $129,000 after buying an additional 407 shares during the period. Institutional investors and hedge funds own 64.95% of the company’s stock.
In other Paylocity news, SVP Edward W. Gaty sold 11,281 shares of Paylocity stock in a transaction on Friday, March 1st. The shares were sold at an average price of $87.00, for a total value of $981,447.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael R. Haske sold 50,000 shares of Paylocity stock in a transaction on Friday, March 1st. The shares were sold at an average price of $86.34, for a total transaction of $4,317,000.00. The disclosure for this sale can be found here. Insiders sold 882,481 shares of company stock valued at $75,511,619 in the last ninety days. 41.20% of the stock is owned by corporate insiders.
Shares of Paylocity stock opened at $90.27 on Wednesday. Paylocity Holding Corp has a 1 year low of $51.18 and a 1 year high of $93.62. The firm has a market cap of $4.73 billion, a P/E ratio of 291.19, a price-to-earnings-growth ratio of 8.23 and a beta of 2.09.
Paylocity (NASDAQ:PCTY) last issued its earnings results on Wednesday, February 6th. The software maker reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.11). Paylocity had a return on equity of 13.43% and a net margin of 12.81%. The business had revenue of $107.20 million for the quarter, compared to analysts’ expectations of $104.68 million. During the same period last year, the business earned $0.16 EPS. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. As a group, analysts forecast that Paylocity Holding Corp will post 0.54 EPS for the current year.
Several equities research analysts have recently commented on PCTY shares. Zacks Investment Research upgraded shares of Paylocity from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. Stifel Nicolaus lifted their price objective on shares of Paylocity from $78.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, February 7th. KeyCorp started coverage on shares of Paylocity in a research note on Tuesday. They set an “overweight” rating for the company. Jefferies Financial Group raised their target price on shares of Paylocity to $85.00 and gave the stock a “hold” rating in a report on Thursday, February 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $100.00 target price (up previously from $80.00) on shares of Paylocity in a report on Thursday, February 7th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $79.93.
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Paylocity Company Profile
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Paylocity Web Pay for enterprise-grade payroll processing and administration; Paylocity Web HR for employee record management, HR compliance and reporting, HR insight and analytics, and self-service portals; Talent Management for employee performance appraisal process and performance review; Paylocity Web Time, a time and attendance solution; and Paylocity Web Expense, an expense management tool designed to streamline and automate the expense management process.
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