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

Bank Hapoalim BM trimmed its position in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 47.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in Paylocity during the 4th quarter valued at $29,000. USA Financial Formulas purchased a new stake in Paylocity during the 1st quarter valued at $29,000. EverSource Wealth Advisors LLC raised its holdings in Paylocity by 489.1% during 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 raised its holdings in Paylocity by 29.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock valued at $55,000 after buying an additional 63 shares during the period. Finally, Johnson Financial Group Inc. purchased a new stake in Paylocity during the 4th quarter valued at $72,000. Hedge funds and other institutional investors own 94.76% of the company's stock.

Paylocity Stock Performance

Paylocity stock traded down $0.72 during midday trading on Thursday, hitting $184.13. 370,840 shares of the company were exchanged, compared to its average volume of 453,224. The firm has a market capitalization of $10.17 billion, a PE ratio of 45.92, a price-to-earnings-growth ratio of 3.61 and a beta of 0.50. Paylocity Holding Corporation has a fifty-two week low of $130.51 and a fifty-two week high of $223.80. The business has a fifty day simple moving average of $188.14 and a two-hundred day simple moving average of $193.33. 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 earnings results on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, topping the consensus estimate of $2.09 by $0.34. The firm had revenue of $454.55 million for the quarter, compared to analyst estimates of $441.77 million. Paylocity had a return on equity of 22.90% and a net margin of 14.65%. Paylocity's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the company earned $2.21 earnings per share. On average, sell-side analysts forecast that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

Insider Buying and Selling

In other Paylocity news, SVP Andrew Cappotelli sold 1,717 shares of the firm'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 sale, the senior vice president directly owned 11,953 shares of the company's stock, valued at approximately $2,112,573.22. This trade represents a 12.56% 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.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PCTY shares. Barclays upped their price objective on Paylocity from $204.00 to $209.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Citigroup cut their price target on Paylocity from $246.00 to $225.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Piper Sandler restated an "overweight" rating and set a $258.00 price target (up previously from $254.00) on shares of Paylocity in a research note on Friday, May 2nd. Jefferies Financial Group cut their price target on Paylocity from $255.00 to $235.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $270.00 price objective on shares of Paylocity in a research report on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Paylocity has a consensus rating of "Moderate Buy" and an average target price of $224.75.

About Paylocity

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.