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

Capital International Investors reduced its position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 17.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,164,066 shares of the software maker's stock after selling 246,007 shares during the period. Capital International Investors owned approximately 2.09% of Paylocity worth $232,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in shares of Paylocity in the fourth quarter valued at about $29,000. UMB Bank n.a. increased its holdings in Paylocity by 41.1% in the 4th 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 last quarter. EverSource Wealth Advisors LLC grew its position in shares of Paylocity by 489.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock valued at $54,000 after purchasing an additional 225 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock worth $55,000 after buying an additional 63 shares in the last quarter. Finally, GAMMA Investing LLC grew 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 buying an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

Paylocity Stock Performance

Shares of NASDAQ:PCTY traded up $2.29 on Friday, hitting $190.80. 81,774 shares of the company were exchanged, compared to its average volume of 478,309. 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 stock's 50 day moving average price is $191.10 and its 200 day moving average price is $195.08. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80. The firm has a market capitalization of $10.66 billion, a P/E ratio of 48.90, a price-to-earnings-growth ratio of 4.49 and a beta of 0.76.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its 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%. Sell-side analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current year.

Insider Activity

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the firm's stock in a transaction that occurred 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 sale, the director now directly owns 420,000 shares of the company's stock, valued at approximately $81,862,200. This trade represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 21.91% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Raymond James reiterated an "outperform" rating and set a $265.00 price objective (up previously from $215.00) on shares of Paylocity in a research report on Friday, February 7th. Stifel Nicolaus raised their price target on Paylocity from $220.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. StockNews.com lowered shares of Paylocity from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. KeyCorp lowered their price target on Paylocity from $250.00 to $220.00 and set an "overweight" rating for the company in a report on Tuesday. Finally, JMP Securities lifted their target price on Paylocity from $250.00 to $270.00 and gave the company a "market outperform" rating in a research report on Friday, February 7th. Four 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, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $226.47.

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.