Paylocity Holding Corporation $PCTY Shares Sold by Liontrust Investment Partners LLP

Key Points

• Liontrust Investment Partners LLP reduced its stake in Paylocity Holding Corporation by 5.3%, owning approximately 742,247 shares, which amounts to $139.05 million and makes up 2.2% of their portfolio.
• Paylocity reported a 12.2% revenue increase year-over-year, generating $400.74 million for the most recent quarter, while earnings per share surpassed analysts' expectations at $1.56.
• Analysts maintain a consensus rating of “Moderate Buy” for Paylocity, with a price target averaging $222.71 following multiple recent research upgrades.

Liontrust Investment Partners LLP lessened its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 5.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 742,247 shares of the software maker's stock after selling 41,821 shares during the quarter. Paylocity comprises about 2.2% of Liontrust Investment Partners LLP's holdings, making the stock its 10th biggest holding. Liontrust Investment Partners LLP owned about 1.34% of Paylocity worth $139,053,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PCTY. TCTC Holdings LLC raised its holdings in Paylocity by 115.9% in the first quarter. TCTC Holdings LLC now owns 149 shares of the software maker's stock valued at $28,000 after acquiring an additional 80 shares in the last quarter. USA Financial Formulas purchased a new position in Paylocity in the first quarter valued at approximately $29,000. Hughes Financial Services LLC purchased a new position in Paylocity in the first quarter valued at approximately $48,000. Bayforest Capital Ltd increased its stake in Paylocity by 69.1% in the first quarter. Bayforest Capital Ltd now owns 296 shares of the software maker's stock valued at $55,000 after purchasing an additional 121 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in Paylocity in the fourth quarter valued at approximately $72,000. Institutional investors and hedge funds own 94.76% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. BMO Capital Markets increased their price target on shares of Paylocity from $226.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Jefferies Financial Group lowered their target price on shares of Paylocity from $235.00 to $225.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Stephens initiated coverage on shares of Paylocity in a research report on Monday, July 21st. They set an "equal weight" rating and a $200.00 target price on the stock. Wall Street Zen upgraded shares of Paylocity from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Raymond James Financial set a $220.00 target price on shares of Paylocity and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $222.71.

Insider Activity at Paylocity

In other Paylocity news, SVP Andrew Cappotelli sold 1,717 shares of the business's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $176.74, for a total transaction 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. The trade was a 12.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 21.91% of the company's stock.

Paylocity Stock Performance

NASDAQ:PCTY traded up $6.22 during midday trading on Monday, reaching $178.18. The stock had a trading volume of 645,456 shares, compared to its average volume of 600,792. The firm has a fifty day simple moving average of $181.24 and a two-hundred day simple moving average of $189.81. Paylocity Holding Corporation has a 12-month low of $150.87 and a 12-month high of $223.80. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.13. The stock has a market cap of $9.83 billion, a P/E ratio of 44.43, a P/E/G ratio of 3.40 and a beta of 0.54.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The software maker reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.18. Paylocity had a net margin of 14.24% and a return on equity of 22.08%. The firm had revenue of $400.74 million for the quarter, compared to analyst estimates of $388.25 million. During the same period last year, the firm posted $1.48 EPS. Paylocity's quarterly revenue was up 12.2% on a year-over-year basis. On average, equities analysts expect that Paylocity Holding Corporation will post 4.36 EPS for the current year.

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.