SG Americas Securities LLC Reduces Holdings in Paylocity Holding Corporation (NASDAQ:PCTY)

SG Americas Securities LLC cut its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 29.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,866 shares of the software maker's stock after selling 2,005 shares during the quarter. SG Americas Securities LLC's holdings in Paylocity were worth $912,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PCTY. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Paylocity by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,603 shares of the software maker's stock valued at $1,916,000 after purchasing an additional 49 shares during the period. Bessemer Group Inc. grew its stake in Paylocity by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 19,118 shares of the software maker's stock valued at $3,813,000 after buying an additional 51 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Paylocity by 29.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock valued at $55,000 after acquiring an additional 63 shares during the period. HighPoint Advisor Group LLC lifted its position in shares of Paylocity by 5.1% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,559 shares of the software maker's stock worth $326,000 after acquiring an additional 75 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Paylocity by 2.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,156 shares of the software maker's stock worth $630,000 after acquiring an additional 77 shares during the period. Institutional investors own 94.76% of the company's stock.

Paylocity Price Performance

Shares of NASDAQ:PCTY traded up $0.33 during trading on Friday, reaching $176.78. The company had a trading volume of 891,158 shares, compared to its average volume of 454,531. The company has a fifty day moving average of $189.49 and a two-hundred day moving average of $195.08. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $9.76 billion, a P/E ratio of 44.08, a price-to-earnings-growth ratio of 3.60 and a beta of 0.53. Paylocity Holding Corporation has a 12 month low of $129.94 and a 12 month high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.34. Paylocity had a net margin of 14.65% and a return on equity of 22.90%. The company had revenue of $454.55 million during the quarter, compared to analyst estimates of $441.77 million. During the same period in the previous year, the business earned $2.21 earnings per share. The firm's quarterly revenue was up 13.3% compared to the same quarter last year. Equities research analysts forecast that Paylocity Holding Corporation will post 4.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Raymond James Financial reiterated an "outperform" rating and set a $235.00 price objective (down from $265.00) on shares of Paylocity in a research note on Friday, May 2nd. Citigroup reduced their target price on Paylocity from $246.00 to $225.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. KeyCorp lowered their price target on shares of Paylocity from $250.00 to $220.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. JMP Securities restated a "market outperform" rating and issued a $270.00 price objective on shares of Paylocity in a research report on Tuesday, April 29th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $250.00 price objective on shares of Paylocity in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $224.75.

Insider Activity

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

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.