Legal & General Group Plc Sells 10,070 Shares of Paylocity Holding Co. (NASDAQ:PCTY)

Legal & General Group Plc lessened its position in Paylocity Holding Co. (NASDAQ:PCTY) by 12.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,231 shares of the software maker’s stock after selling 10,070 shares during the period. Legal & General Group Plc owned about 0.13% of Paylocity worth $14,009,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in Paylocity during the fourth quarter worth about $29,000. UMB Bank n.a. lifted its position in shares of Paylocity by 41.1% in the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after buying an additional 72 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Paylocity by 489.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock worth $54,000 after acquiring an additional 225 shares during the period. Steward Partners Investment Advisory LLC raised its stake in Paylocity by 29.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock valued at $55,000 after acquiring an additional 63 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Paylocity by 43.3% during the 4th quarter. GAMMA Investing LLC now owns 384 shares of the software maker’s stock valued at $77,000 after purchasing an additional 116 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Stock Down 0.3 %

Shares of PCTY opened at $186.75 on Wednesday. The firm has a 50 day simple moving average of $195.20 and a two-hundred day simple moving average of $194.43. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. Paylocity Holding Co. has a one year low of $129.94 and a one year high of $223.80. The company has a market cap of $10.44 billion, a P/E ratio of 47.88, a P/E/G ratio of 4.49 and a beta of 0.76.

Paylocity (NASDAQ:PCTY) last posted its quarterly earnings results on Thursday, February 6th. The software maker reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.60). Paylocity had a return on equity of 22.45% and a net margin of 14.76%. Research analysts forecast that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and issued a $254.00 price objective (up from $212.00) on shares of Paylocity in a research report on Thursday, February 6th. StockNews.com downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. KeyCorp upped their target price on Paylocity from $220.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Barclays lifted their price target on Paylocity from $214.00 to $231.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Finally, TD Cowen decreased their price objective on Paylocity from $235.00 to $228.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Paylocity has a consensus rating of “Moderate Buy” and an average target price of $232.31.

Insider Transactions at Paylocity

In other news, Director Steven I. Sarowitz sold 26,252 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.91, for a total value of $5,116,777.32. Following the completion of the transaction, the director now directly owns 420,000 shares in the company, valued at approximately $81,862,200. This represents a 5.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 21.91% of the company’s stock.

Paylocity 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.