Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Trust Point Inc.

Trust Point Inc. lessened its stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 25.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,847 shares of the software maker's stock after selling 1,981 shares during the quarter. Trust Point Inc.'s holdings in Paylocity were worth $1,095,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PCTY. FMR LLC boosted its holdings 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 purchasing an additional 377,835 shares during the last quarter. Invesco Ltd. boosted its position in Paylocity by 31.7% during the 4th quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker's stock worth $265,737,000 after purchasing an additional 320,319 shares during the period. American Century Companies Inc. boosted its position in Paylocity by 190.0% during the 4th quarter. American Century Companies Inc. now owns 349,797 shares of the software maker's stock worth $69,774,000 after purchasing an additional 229,179 shares during the period. Tudor Investment Corp ET AL boosted its position in Paylocity by 6,025.6% during the 4th quarter. Tudor Investment Corp ET AL now owns 125,758 shares of the software maker's stock worth $25,085,000 after purchasing an additional 123,705 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in Paylocity by 34.5% during the 4th quarter. Point72 Asset Management L.P. now owns 416,531 shares of the software maker's stock worth $83,085,000 after purchasing an additional 106,770 shares during the period. Institutional investors and hedge funds own 94.76% of the company's stock.

Insider Activity at Paylocity

In other Paylocity news, Director Steven I. Sarowitz sold 23,243 shares of the company's stock in a transaction dated 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 completion of the transaction, the director now owns 470,452 shares in the company, valued at approximately $89,856,332. This represents a 4.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 21.91% of the company's stock.

Paylocity Price Performance

PCTY opened at $176.81 on Monday. The company has a 50-day moving average of $190.15 and a 200-day moving average of $196.09. The company has a market capitalization of $9.77 billion, a P/E ratio of 45.34, a PEG ratio of 4.49 and a beta of 0.53. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80. 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 released its earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.34. Paylocity had a net margin of 14.76% and a return on equity of 22.45%. The company had revenue of $454.55 million during the quarter, compared to the consensus estimate of $441.77 million. During the same quarter in the previous year, the firm earned $2.21 EPS. The company's revenue was up 13.3% on a year-over-year basis. Equities analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Paylocity from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Jefferies Financial Group decreased their price target on shares of Paylocity from $255.00 to $235.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Piper Sandler reaffirmed an "overweight" rating and set a $258.00 price target (up from $254.00) on shares of Paylocity in a research report on Friday, May 2nd. Raymond James reaffirmed an "outperform" rating and set a $235.00 price target (down from $265.00) on shares of Paylocity in a research report on Friday, May 2nd. Finally, Mizuho decreased their price target on shares of Paylocity from $245.00 to $220.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Paylocity 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.

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