Paylocity Holding Co. (NASDAQ:PCTY) Stock Position Lessened by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec lowered its stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 77.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,155 shares of the software maker's stock after selling 74,251 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in Paylocity were worth $4,419,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Paylocity in the 4th quarter worth $29,000. UMB Bank n.a. raised its stake in shares of Paylocity by 41.1% during the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock worth $49,000 after buying an additional 72 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Paylocity by 489.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock valued at $54,000 after buying an additional 225 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in Paylocity by 29.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock worth $55,000 after acquiring an additional 63 shares during the period. Finally, Johnson Financial Group Inc. purchased a new position in Paylocity in the fourth quarter worth $72,000. 94.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Steven I. Sarowitz sold 26,252 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the completion of the transaction, the director now owns 420,000 shares in the company, valued at approximately $81,862,200. This represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 21.91% of the stock is owned by company insiders.

Paylocity Stock Up 5.3 %

Shares of PCTY stock traded up $9.79 during mid-day trading on Thursday, reaching $193.39. 456,074 shares of the company were exchanged, compared to its average volume of 468,536. The business's 50 day simple moving average is $187.96 and its 200 day simple moving average is $196.47. The company has a market capitalization of $10.68 billion, a P/E ratio of 49.59, a P/E/G ratio of 4.49 and a beta of 0.58. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its earnings results on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, topping analysts' consensus estimates of $2.09 by $0.34. The company had revenue of $454.55 million for the quarter, compared to the consensus estimate of $441.77 million. Paylocity had a return on equity of 22.45% and a net margin of 14.76%. Paylocity's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 EPS. Research analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. JMP Securities reiterated a "market outperform" rating and issued a $270.00 price objective on shares of Paylocity in a research note on Tuesday, April 29th. Needham & Company LLC restated a "buy" rating and issued a $250.00 price target on shares of Paylocity in a report on Friday, May 2nd. Stifel Nicolaus reduced their price objective on Paylocity from $250.00 to $235.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Jefferies Financial Group lowered their price objective on shares of Paylocity from $255.00 to $235.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Piper Sandler reissued an "overweight" rating and issued a $258.00 price target (up from $254.00) on shares of Paylocity in a report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Paylocity currently has an average rating of "Moderate Buy" and an average target price of $223.00.

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.