Harel Insurance Investments & Financial Services Ltd. Has $6.41 Million Stock Position in Paylocity Holding Corporation (NASDAQ:PCTY)

Harel Insurance Investments & Financial Services Ltd. cut its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 5.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,210 shares of the software maker's stock after selling 2,105 shares during the quarter. Harel Insurance Investments & Financial Services Ltd. owned 0.06% of Paylocity worth $6,409,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Paylocity by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker's stock worth $803,745,000 after purchasing an additional 46,183 shares during the period. Invesco Ltd. lifted its position in Paylocity by 31.7% in the 4th quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker's stock worth $265,737,000 after buying an additional 320,319 shares in the last quarter. Geode Capital Management LLC lifted its position in Paylocity by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 1,073,988 shares of the software maker's stock worth $214,275,000 after buying an additional 25,182 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Paylocity by 0.8% during the 4th quarter. JPMorgan Chase & Co. now owns 863,787 shares of the software maker's stock valued at $172,300,000 after buying an additional 7,251 shares during the period. Finally, FMR LLC grew its holdings in shares of Paylocity by 138.5% during the 4th quarter. FMR LLC now owns 650,599 shares of the software maker's stock valued at $129,775,000 after acquiring an additional 377,835 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Paylocity

In other news, SVP Andrew Cappotelli sold 1,717 shares of the company'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 in the company, valued at approximately $2,112,573.22. This represents a 12.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 21.91% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PCTY has been the subject of several recent research reports. Raymond James Financial reiterated an "outperform" rating and set a $235.00 price objective (down from $265.00) on shares of Paylocity in a report on Friday, May 2nd. Mizuho cut their price target on Paylocity from $245.00 to $220.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. UBS Group boosted their price target on Paylocity from $195.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. 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 report on Friday, May 2nd. Finally, Scotiabank started coverage on shares of Paylocity in a research report on Wednesday, April 16th. They issued a "sector perform" rating and a $190.00 target price for the company. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $224.75.

Paylocity Price Performance

Shares of NASDAQ:PCTY opened at $184.61 on Friday. The company has a market cap of $10.20 billion, a price-to-earnings ratio of 46.04, a PEG ratio of 3.51 and a beta of 0.50. The business has a 50 day moving average price of $188.68 and a 200 day moving average price of $193.69. 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 Holding Corporation has a twelve month low of $130.51 and a twelve month high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.34. The company had revenue of $454.55 million during 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%. Paylocity's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.21 earnings per share. Research analysts predict that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

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.

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