Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors cut its position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 54.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,802 shares of the software maker's stock after selling 3,293 shares during the period. Captrust Financial Advisors' holdings in Paylocity were worth $559,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in PCTY. SBI Securities Co. Ltd. acquired a new stake in shares of Paylocity in the fourth quarter valued at about $29,000. UMB Bank n.a. grew its holdings in shares of Paylocity by 41.1% in the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock valued at $49,000 after purchasing an additional 72 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Paylocity by 489.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock valued at $54,000 after purchasing an additional 225 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in shares of Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock valued at $55,000 after purchasing an additional 63 shares during the period. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Paylocity in the fourth quarter valued at about $72,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

Paylocity Stock Down 1.0%

NASDAQ:PCTY traded down $2.06 during mid-day trading on Friday, hitting $194.85. The stock had a trading volume of 300,569 shares, compared to its average volume of 461,443. The stock has a 50-day simple moving average of $189.38 and a two-hundred day simple moving average of $197.84. The company has a market capitalization of $10.76 billion, a PE ratio of 49.96, a PEG ratio of 4.49 and a beta of 0.58. Paylocity Holding Co. has a twelve month low of $129.94 and a twelve month high of $223.80. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 14.76% and a return on equity of 22.45%. The firm's revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the company earned $2.21 earnings per share. On average, equities research analysts anticipate that Paylocity Holding Co. will post 4.36 EPS for the current year.

Insider Activity

In other Paylocity news, Director Steven I. Sarowitz sold 23,243 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $191.00, for a total value of $4,439,413.00. Following the transaction, the director now directly owns 470,452 shares of the company's stock, valued at approximately $89,856,332. The trade was a 4.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 21.91% of the company's stock.

Analyst Upgrades and Downgrades

PCTY has been the subject of a number of analyst reports. KeyCorp dropped their price objective on shares of Paylocity from $250.00 to $220.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group lowered their target price on shares of Paylocity from $255.00 to $235.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Scotiabank initiated coverage on shares of Paylocity in a research note on Wednesday, April 16th. They issued a "sector perform" rating and a $190.00 price objective for the company. Barclays raised their price objective on shares of Paylocity from $204.00 to $209.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Finally, Needham & Company LLC reissued a "buy" rating and issued a $250.00 price objective on shares of Paylocity in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.