Tidal Investments LLC reduced its stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 77.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,031 shares of the software maker's stock after selling 6,805 shares during the quarter. Tidal Investments LLC's holdings in Paylocity were worth $405,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of PCTY. Barclays PLC raised its holdings in Paylocity by 14.3% in the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker's stock worth $7,407,000 after purchasing an additional 5,609 shares during the period. Fifth Third Bancorp raised its holdings in Paylocity by 53.6% during the fourth quarter. Fifth Third Bancorp now owns 4,632 shares of the software maker's stock valued at $924,000 after acquiring an additional 1,617 shares during the period. Blue Trust Inc. raised its holdings in Paylocity by 27.7% during the fourth quarter. Blue Trust Inc. now owns 839 shares of the software maker's stock valued at $167,000 after acquiring an additional 182 shares during the period. Pacer Advisors Inc. raised its holdings in Paylocity by 3.0% during the fourth quarter. Pacer Advisors Inc. now owns 6,484 shares of the software maker's stock valued at $1,293,000 after acquiring an additional 189 shares during the period. Finally, Mediolanum International Funds Ltd bought a new stake in Paylocity during the fourth quarter valued at about $6,980,000. 94.76% of the stock is owned by institutional investors.
Paylocity Stock Up 0.1%
Shares of PCTY stock traded up $0.19 during trading hours on Tuesday, reaching $190.72. 659,037 shares of the company's stock were exchanged, compared to its average volume of 454,292. The stock's 50 day moving average is $189.32 and its 200-day moving average is $197.04. The company has a market cap of $10.53 billion, a price-to-earnings ratio of 48.90, a P/E/G ratio of 4.49 and a beta of 0.58. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a fifty-two week low of $129.94 and a fifty-two week high of $223.80.
Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.09 by $0.34. The business had revenue of $454.55 million for 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 business's quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.21 earnings per share. Analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.
Insider Activity at Paylocity
In related news, Director Steven I. Sarowitz sold 26,252 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.91, for a total value of $5,116,777.32. Following the transaction, the director now directly owns 420,000 shares of the company's stock, valued at $81,862,200. This represents a 5.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.91% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
PCTY has been the topic of a number of recent analyst reports. Raymond James reissued an "outperform" rating and set a $235.00 price target (down from $265.00) on shares of Paylocity in a report on Friday, May 2nd. UBS Group boosted their target price on Paylocity from $195.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Piper Sandler restated an "overweight" rating and set a $258.00 target price (up previously from $254.00) on shares of Paylocity in a research report on Friday, May 2nd. BMO Capital Markets boosted their target price on Paylocity from $210.00 to $226.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, Barclays boosted their target price on Paylocity from $204.00 to $209.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $223.00.
Check Out Our Latest Analysis on PCTY
Paylocity Company Profile
(
Free Report)
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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