Bank Hapoalim BM Has $450,000 Stock Position in Paylocity Holding Corporation (NASDAQ:PCTY)

Bank Hapoalim BM cut its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 47.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of Paylocity during the 4th quarter worth about $29,000. USA Financial Formulas acquired a new position in shares of Paylocity during the 1st quarter worth about $29,000. EverSource Wealth Advisors LLC increased its stake in shares of Paylocity by 489.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock worth $54,000 after purchasing an additional 225 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Paylocity by 29.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock worth $55,000 after purchasing an additional 63 shares during the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in shares of Paylocity during the 4th quarter worth about $72,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PCTY. Raymond James Financial reiterated an "outperform" rating and issued a $235.00 price target (down previously from $265.00) on shares of Paylocity in a research note on Friday, May 2nd. BMO Capital Markets increased their price target on shares of Paylocity from $210.00 to $226.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Barclays increased their price target on shares of Paylocity from $204.00 to $209.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Needham & Company LLC reissued a "buy" rating and issued a $250.00 price target on shares of Paylocity in a report on Friday, May 2nd. Finally, Stifel Nicolaus lowered their price target on shares of Paylocity from $250.00 to $235.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $224.75.

Paylocity Stock Performance

Shares of NASDAQ:PCTY traded down $5.75 on Friday, reaching $177.16. 418,237 shares of the company's stock were exchanged, compared to its average volume of 453,381. The company has a fifty day moving average of $187.71 and a 200-day moving average of $193.06. Paylocity Holding Corporation has a twelve month low of $137.35 and a twelve month high of $223.80. The company has a market capitalization of $9.78 billion, a price-to-earnings ratio of 44.18, a PEG ratio of 3.57 and a beta of 0.50. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.20.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.09 by $0.34. The business had revenue of $454.55 million for the quarter, compared to analysts' expectations of $441.77 million. Paylocity had a net margin of 14.65% and a return on equity of 22.90%. The firm's quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the firm posted $2.21 earnings per share. On average, research analysts predict that Paylocity Holding Corporation will post 4.36 EPS for the current fiscal year.

Insider Transactions at Paylocity

In related news, SVP Andrew Cappotelli sold 1,717 shares of Paylocity stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $176.74, for a total value of $303,462.58. Following the transaction, the senior vice president directly owned 11,953 shares of the company's stock, valued at $2,112,573.22. This trade represents a 12.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 21.91% of the stock is owned by company insiders.

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.