Squarepoint Ops LLC Decreases Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Squarepoint Ops LLC lowered its stake in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 78.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,224 shares of the software maker's stock after selling 64,277 shares during the period. Squarepoint Ops LLC's holdings in Paylocity were worth $3,436,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in Paylocity during the fourth quarter valued at about $29,000. EverSource Wealth Advisors LLC lifted its position in shares of Paylocity by 489.1% during the fourth 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 last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of 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 in the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Paylocity in the 4th quarter worth approximately $72,000. Finally, Huntington National Bank grew its position in shares of Paylocity by 37.3% in the 4th quarter. Huntington National Bank now owns 431 shares of the software maker's stock worth $86,000 after buying an additional 117 shares during the last quarter. Institutional investors own 94.76% of the company's stock.

Paylocity Stock Performance

NASDAQ:PCTY traded down $3.67 during mid-day trading on Wednesday, hitting $193.77. The company's stock had a trading volume of 298,015 shares, compared to its average volume of 458,655. The business's fifty day moving average is $189.63 and its two-hundred day moving average is $197.60. The stock has a market cap of $10.70 billion, a price-to-earnings ratio of 49.68, a PEG ratio of 4.49 and a beta of 0.58. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.14 and a quick ratio of 1.14. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 earnings per share (EPS) 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 analysts' expectations of $441.77 million. Paylocity had a return on equity of 22.45% and a net margin of 14.76%. The company's revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.21 EPS. Analysts anticipate that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on PCTY. Raymond James reissued an "outperform" rating and set a $235.00 target price (down previously from $265.00) on shares of Paylocity in a research report on Friday, May 2nd. Piper Sandler reissued an "overweight" rating and issued a $258.00 price objective (up previously from $254.00) on shares of Paylocity in a research report on Friday, May 2nd. Citigroup dropped their target price on Paylocity from $246.00 to $225.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. JMP Securities reaffirmed a "market outperform" rating and set a $270.00 target price on shares of Paylocity in a research report on Tuesday, April 29th. Finally, Stifel Nicolaus lowered their price target on Paylocity from $250.00 to $235.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $223.00.

Insider Transactions at Paylocity

In related news, Director Steven I. Sarowitz sold 23,243 shares of Paylocity stock in a transaction dated Thursday, March 20th. The stock was 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 $89,856,332. The trade was a 4.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 21.91% of the company's stock.

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.