Paylocity Holding Corporation (NASDAQ:PCTY) Shares Sold by Bank Hapoalim BM

Bank Hapoalim BM trimmed its holdings in Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 47.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,400 shares of the software maker's stock after selling 2,170 shares during the period. Bank Hapoalim BM's holdings in Paylocity were worth $450,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of PCTY. Vanguard Group Inc. grew its position in Paylocity by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker's stock valued at $803,745,000 after buying an additional 46,183 shares during the last quarter. Invesco Ltd. grew its position in Paylocity by 31.7% in the 4th quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker's stock valued at $265,737,000 after buying an additional 320,319 shares during the last quarter. Geode Capital Management LLC grew its position in Paylocity by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 1,073,988 shares of the software maker's stock valued at $214,275,000 after buying an additional 25,182 shares during the last quarter. JPMorgan Chase & Co. grew its position in Paylocity by 0.8% in the 4th quarter. JPMorgan Chase & Co. now owns 863,787 shares of the software maker's stock valued at $172,300,000 after buying an additional 7,251 shares during the last quarter. Finally, FMR LLC grew its position in Paylocity by 138.5% in the 4th quarter. FMR LLC now owns 650,599 shares of the software maker's stock valued at $129,775,000 after buying an additional 377,835 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Paylocity news, SVP Andrew Cappotelli sold 1,717 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $176.74, for a total value of $303,462.58. Following the completion of the transaction, the senior vice president owned 11,953 shares in the company, valued at $2,112,573.22. This represents a 12.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 21.91% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PCTY has been the topic of a number of analyst reports. 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 report on Friday, May 2nd. UBS Group lifted their price objective on shares of Paylocity from $195.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Raymond James Financial reiterated an "outperform" rating and issued a $235.00 price objective (down from $265.00) on shares of Paylocity in a research report on Friday, May 2nd. BMO Capital Markets boosted their target price on shares of Paylocity from $210.00 to $226.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, JMP Securities restated a "market outperform" rating and set a $270.00 target price on shares of Paylocity in a research report on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $224.75.

Paylocity Price Performance

PCTY stock traded down $0.35 during trading on Wednesday, hitting $184.85. The stock had a trading volume of 390,438 shares, compared to its average volume of 453,310. The company's 50 day moving average price is $188.14 and its two-hundred day moving average price is $193.33. Paylocity Holding Corporation has a 1-year low of $130.51 and a 1-year high of $223.80. The stock has a market cap of $10.21 billion, a price-to-earnings ratio of 46.10, a price-to-earnings-growth ratio of 3.61 and a beta of 0.50. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.13 and a current ratio of 1.13.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, beating the consensus estimate of $2.09 by $0.34. The company had revenue of $454.55 million during the quarter, compared to analysts' expectations of $441.77 million. Paylocity had a return on equity of 22.90% and a net margin of 14.65%. The firm's revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.21 EPS. On average, sell-side analysts forecast that Paylocity Holding Corporation will post 4.36 EPS for the current fiscal year.

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.