Vident Advisory LLC Lowers Position in Paylocity Holding Co. (NASDAQ:PCTY)

Vident Advisory LLC lowered its position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 86.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,274 shares of the software maker's stock after selling 8,448 shares during the period. Vident Advisory LLC's holdings in Paylocity were worth $254,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Paylocity by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 4,029,402 shares of the software maker's stock worth $803,745,000 after acquiring an additional 46,183 shares during the period. Invesco Ltd. raised its position in shares of Paylocity by 31.7% in the fourth quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker's stock worth $265,737,000 after acquiring an additional 320,319 shares during the period. Geode Capital Management LLC increased its stake in shares of Paylocity by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 1,073,988 shares of the software maker's stock worth $214,275,000 after purchasing an additional 25,182 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Paylocity by 0.8% during the fourth quarter. JPMorgan Chase & Co. now owns 863,787 shares of the software maker's stock worth $172,300,000 after purchasing an additional 7,251 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Paylocity by 138.5% during the fourth quarter. FMR LLC now owns 650,599 shares of the software maker's stock worth $129,775,000 after purchasing an additional 377,835 shares in the last quarter. 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 26,252 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the transaction, the director now directly owns 420,000 shares of the company's stock, valued at approximately $81,862,200. This trade represents a 5.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 21.91% of the company's stock.

Paylocity Trading Up 0.1%

Shares of Paylocity stock traded up $0.19 during mid-day trading on Tuesday, hitting $190.72. The stock had a trading volume of 659,037 shares, compared to its average volume of 454,292. The firm has a 50-day moving average of $189.32 and a two-hundred day moving average of $197.04. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.28. Paylocity Holding Co. has a 12-month low of $129.94 and a 12-month high of $223.80. The firm has a market cap of $10.53 billion, a P/E ratio of 48.90, a price-to-earnings-growth ratio of 4.49 and a beta of 0.58.

Paylocity (NASDAQ:PCTY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, topping the consensus estimate of $2.09 by $0.34. The firm had revenue of $454.55 million for the quarter, compared to analyst estimates of $441.77 million. Paylocity had a net margin of 14.76% and a return on equity of 22.45%. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.21 EPS. Sell-side analysts forecast that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Analyst Ratings Changes

PCTY has been the subject of a number of research reports. Needham & Company LLC reissued a "buy" rating and set a $250.00 target price on shares of Paylocity in a research note on Friday, May 2nd. BMO Capital Markets boosted their target price on shares of Paylocity from $210.00 to $226.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. 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 note on Friday, May 2nd. Mizuho dropped their price objective on shares of Paylocity from $245.00 to $220.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $258.00 price objective (up previously from $254.00) on shares of Paylocity in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.