Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Capital International Investors

Capital International Investors lowered its holdings in Paylocity Holding Co. (NASDAQ:PCTY) by 17.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,164,066 shares of the software maker’s stock after selling 246,007 shares during the period. Capital International Investors’ holdings in Paylocity were worth $232,196,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PCTY. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Paylocity by 0.5% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker’s stock worth $1,916,000 after buying an additional 49 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Paylocity by 0.3% during the fourth quarter. Bessemer Group Inc. now owns 19,118 shares of the software maker’s stock valued at $3,813,000 after purchasing an additional 51 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Paylocity by 29.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker’s stock valued at $55,000 after buying an additional 63 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker’s stock valued at $49,000 after acquiring an additional 72 shares during the period. Finally, HighPoint Advisor Group LLC lifted its holdings in shares of Paylocity by 5.1% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,559 shares of the software maker’s stock valued at $326,000 after purchasing an additional 75 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Stock Performance

Paylocity stock opened at $183.98 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. The company has a market cap of $10.28 billion, a PE ratio of 47.17, a PEG ratio of 4.49 and a beta of 0.76. The company’s 50-day moving average is $193.70 and its two-hundred day moving average is $194.82. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80.

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

Insider Transactions at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of Paylocity stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the transaction, the director now directly owns 420,000 shares in the company, valued at approximately $81,862,200. The trade was a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 21.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PCTY shares. Scotiabank began coverage on shares of Paylocity in a research report on Wednesday. They set a “sector perform” rating and a $190.00 price objective on the stock. TD Cowen dropped 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. Jefferies Financial Group upped their price target on Paylocity from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Citigroup raised shares of Paylocity from a “neutral” rating to a “buy” rating and lifted their price target for the company from $214.00 to $231.00 in a research report on Thursday, January 16th. Finally, Needham & Company LLC lifted their target price on shares of Paylocity from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Paylocity presently has a consensus rating of “Moderate Buy” and an average target price of $229.82.

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.