Paylocity Holding Corporation $PCTY Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC cut its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 37.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,462 shares of the software maker’s stock after selling 76,180 shares during the period. TimesSquare Capital Management LLC owned approximately 0.23% of Paylocity worth $19,982,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Paylocity during the 3rd quarter valued at $41,000. SBI Securities Co. Ltd. grew its holdings in Paylocity by 47.4% during the second quarter. SBI Securities Co. Ltd. now owns 252 shares of the software maker’s stock worth $46,000 after acquiring an additional 81 shares during the period. True Wealth Design LLC raised its position in Paylocity by 155.4% in the third quarter. True Wealth Design LLC now owns 286 shares of the software maker’s stock worth $46,000 after acquiring an additional 174 shares in the last quarter. SJS Investment Consulting Inc. lifted its holdings in Paylocity by 14,800.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 298 shares of the software maker’s stock valued at $47,000 after acquiring an additional 296 shares during the last quarter. Finally, Employees Retirement System of Texas bought a new position in shares of Paylocity during the 2nd quarter valued at about $51,000. Institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

PCTY has been the subject of several recent research reports. Zacks Research raised shares of Paylocity from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Stephens set a $160.00 price objective on Paylocity in a research report on Friday, January 16th. JMP Securities set a $245.00 price objective on Paylocity in a research note on Wednesday, November 5th. Robert W. Baird set a $220.00 target price on Paylocity in a report on Friday, February 6th. Finally, BMO Capital Markets reduced their target price on Paylocity from $185.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, February 6th. Sixteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.14.

Paylocity Stock Up 2.8%

Paylocity stock opened at $107.13 on Monday. The company has a market capitalization of $5.77 billion, a P/E ratio of 25.21, a P/E/G ratio of 3.12 and a beta of 0.54. The firm’s fifty day simple moving average is $141.55 and its 200-day simple moving average is $153.71. Paylocity Holding Corporation has a 1-year low of $101.39 and a 1-year high of $218.74. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.07.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Thursday, February 5th. The software maker reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.28. Paylocity had a return on equity of 23.44% and a net margin of 14.19%.The business had revenue of $416.13 million for the quarter, compared to the consensus estimate of $408.37 million. During the same period last year, the business earned $1.52 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. Sell-side analysts forecast that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

Insider Activity at Paylocity

In related news, CFO Ryan Glenn sold 1,737 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $143.65, for a total transaction of $249,520.05. Following the completion of the transaction, the chief financial officer directly owned 77,229 shares in the company, valued at $11,093,945.85. This represents a 2.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 19.40% of the stock is currently owned by company insiders.

Paylocity Profile

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.