Blair William & Co. IL Decreases Holdings in Paylocity Holding Corporation (NASDAQ:PCTY)

Key Points

• Blair William & Co. IL reduced its holdings in Paylocity Holding Corporation by 2.9%, now owning approximately 0.19% of the company valued at about $19.9 million.
• Institutional investors own a significant 94.76% of Paylocity's stock, with notable increases in holdings from firms like Invesco and FMR LLC in the previous quarter.
• Despite recent stock fluctuations, Paylocity's earnings report showed strong performance with $2.43 EPS for the quarter, exceeding estimates and indicating a year-over-year revenue growth of 13.3%.

Blair William & Co. IL reduced its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 106,248 shares of the software maker's stock after selling 3,186 shares during the quarter. Blair William & Co. IL owned approximately 0.19% of Paylocity worth $19,904,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Invesco Ltd. boosted its holdings in Paylocity by 31.7% in the fourth quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker's stock valued at $265,737,000 after purchasing an additional 320,319 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 in the last quarter. FMR LLC grew its position in shares of 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. Dimensional Fund Advisors LP grew its position in shares of Paylocity by 9.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 487,662 shares of the software maker's stock valued at $97,276,000 after buying an additional 41,955 shares during the last quarter. Finally, Alyeska Investment Group L.P. raised its stake in Paylocity by 4.9% during the 4th quarter. Alyeska Investment Group L.P. now owns 487,593 shares of the software maker's stock worth $97,260,000 after acquiring an additional 22,655 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PCTY shares. Needham & Company LLC restated a "buy" rating and issued a $250.00 price objective on shares of Paylocity in a research note on Friday, July 18th. Barclays decreased their target price on Paylocity from $209.00 to $190.00 and set an "equal weight" rating for the company in a research report on Monday, July 21st. 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 report on Friday, May 2nd. BMO Capital Markets increased their price objective on Paylocity from $210.00 to $226.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Citigroup cut their target price on shares of Paylocity from $225.00 to $218.00 and set a "buy" rating on the stock in a report on Monday, July 21st. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $223.13.

Insider Buying and Selling at Paylocity

In related news, SVP Andrew Cappotelli sold 1,717 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $176.74, for a total transaction of $303,462.58. Following the transaction, the senior vice president owned 11,953 shares of the company's stock, valued at $2,112,573.22. This 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 at this link. 21.91% of the stock is currently owned by company insiders.

Paylocity Trading Down 1.9%

Shares of Paylocity stock opened at $181.43 on Monday. The firm has a market cap of $10.02 billion, a price-to-earnings ratio of 45.24, a price-to-earnings-growth ratio of 3.59 and a beta of 0.54. Paylocity Holding Corporation has a 52-week low of $142.00 and a 52-week high of $223.80. The company's 50-day simple moving average is $184.52 and its 200-day simple moving average is $191.72. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.20.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.34. The company had revenue of $454.55 million for 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 quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.21 EPS. As a group, equities research analysts anticipate that Paylocity Holding Corporation will post 4.36 earnings per share for the current 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.

Want to see what other hedge funds are holding PCTY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paylocity Holding Corporation (NASDAQ:PCTY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.