Paylocity Holding Co. (NASDAQ:PCTY) Stock Holdings Lessened by Bank of America Corp DE

Bank of America Corp DE decreased its position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 39.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 140,475 shares of the software maker's stock after selling 89,780 shares during the period. Bank of America Corp DE owned 0.25% of Paylocity worth $28,021,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in Paylocity during the fourth quarter worth approximately $29,000. UMB Bank n.a. increased its position in Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock worth $49,000 after purchasing an additional 72 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Paylocity by 489.1% during the fourth 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 position 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 purchasing an additional 63 shares during the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in Paylocity during the fourth quarter worth approximately $72,000. Hedge funds and other institutional investors own 94.76% of the company's stock.

Paylocity Stock Down 1.0%

PCTY traded down $2.06 during trading hours on Friday, reaching $194.85. 300,569 shares of the stock traded hands, compared to its average volume of 462,642. The firm's fifty day simple moving average is $189.29 and its two-hundred day simple moving average is $197.96. The company has a market cap of $10.76 billion, a price-to-earnings ratio of 49.96, a PEG 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 current ratio of 1.14 and a quick ratio of 1.14.

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

Insider Buying and Selling at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the stock in a transaction on 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 transaction, the director now directly owns 420,000 shares in the company, valued at $81,862,200. This represents a 5.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 21.91% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on PCTY. Wall Street Zen raised shares of Paylocity from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. JMP Securities reissued a "market outperform" rating and issued a $270.00 price objective on shares of Paylocity in a research report on Tuesday, April 29th. Scotiabank assumed coverage on shares of Paylocity in a research report on Wednesday, April 16th. They issued a "sector perform" rating and a $190.00 price objective for the company. Piper Sandler reissued an "overweight" rating and issued a $258.00 price objective (up previously from $254.00) on shares of Paylocity in a research report on Friday, May 2nd. Finally, Raymond James reissued an "outperform" rating and issued a $235.00 price objective (down previously from $265.00) on shares of Paylocity in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $223.00.

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.