Moody National Bank Trust Division Cuts Stock Position in Paylocity Holding Co. (NASDAQ:PCTY)

Moody National Bank Trust Division lowered its position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 25.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 7,032 shares of the software maker's stock after selling 2,450 shares during the period. Moody National Bank Trust Division's holdings in Paylocity were worth $1,317,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in Paylocity in the 4th quarter valued at about $29,000. EverSource Wealth Advisors LLC raised its holdings in Paylocity by 489.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock valued at $54,000 after buying an additional 225 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in Paylocity by 29.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock valued at $55,000 after buying an additional 63 shares during the period. Johnson Financial Group Inc. purchased a new stake in Paylocity in the 4th quarter valued at about $72,000. Finally, Huntington National Bank raised its holdings in Paylocity by 37.3% in the 4th quarter. Huntington National Bank now owns 431 shares of the software maker's stock valued at $86,000 after buying an additional 117 shares during the period. Hedge funds and other institutional investors own 94.76% of the company's stock.

Insider Activity

In other news, Director Steven I. Sarowitz sold 26,252 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the completion of the sale, the director now owns 420,000 shares in the company, valued at $81,862,200. This represents a 5.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 21.91% of the company's stock.

Paylocity Stock Performance

NASDAQ PCTY traded up $0.66 on Friday, reaching $189.88. The stock had a trading volume of 596,818 shares, compared to its average volume of 455,423. The stock has a market cap of $10.49 billion, a P/E ratio of 48.69, a price-to-earnings-growth ratio of 4.49 and a beta of 0.58. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80. The business's 50-day moving average price is $189.40 and its 200 day moving average price is $197.14. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current 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 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.34. The business had revenue of $454.55 million during the quarter, compared to the consensus estimate of $441.77 million. Paylocity had a return on equity of 22.45% and a net margin of 14.76%. The company's revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.21 earnings per share. As a group, equities analysts expect that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Analyst Ratings Changes

PCTY has been the subject of several research reports. Wall Street Zen raised Paylocity from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Raymond James reaffirmed an "outperform" rating and issued a $235.00 target price (down from $265.00) on shares of Paylocity in a research report on Friday, May 2nd. JMP Securities reissued a "market outperform" rating and set a $270.00 price objective on shares of Paylocity in a research report on Tuesday, April 29th. Barclays boosted their price objective on Paylocity from $204.00 to $209.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Finally, Scotiabank assumed coverage on Paylocity in a research report on Wednesday, April 16th. They set a "sector perform" rating and a $190.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $223.00.

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.