Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Graham Capital Management L.P.

Graham Capital Management L.P. lowered its position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 23.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 8,285 shares of the software maker's stock after selling 2,567 shares during the period. Graham Capital Management L.P.'s holdings in Paylocity were worth $1,653,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. FMR LLC raised its position in shares of Paylocity by 138.5% during the 4th quarter. FMR LLC now owns 650,599 shares of the software maker's stock valued at $129,775,000 after buying an additional 377,835 shares during the period. Invesco Ltd. increased its stake in Paylocity by 31.7% during 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 last quarter. American Century Companies Inc. raised its position in Paylocity by 190.0% in the fourth quarter. American Century Companies Inc. now owns 349,797 shares of the software maker's stock valued at $69,774,000 after purchasing an additional 229,179 shares during the period. Tudor Investment Corp ET AL lifted its stake in shares of Paylocity by 6,025.6% in the 4th quarter. Tudor Investment Corp ET AL now owns 125,758 shares of the software maker's stock valued at $25,085,000 after purchasing an additional 123,705 shares during the last quarter. Finally, Anomaly Capital Management LP purchased a new position in shares of Paylocity during the 4th quarter worth $19,105,000. Hedge funds and other institutional investors own 94.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PCTY. Citigroup decreased their target price on shares of Paylocity from $246.00 to $225.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. JMP Securities restated a "market outperform" rating and issued a $270.00 price objective on shares of Paylocity in a report on Tuesday, April 29th. KeyCorp dropped their target price on shares of Paylocity from $250.00 to $220.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group lowered their price target on Paylocity from $255.00 to $235.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Piper Sandler reissued an "overweight" rating and set a $258.00 target price (up previously from $254.00) on shares of Paylocity in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $223.00.

Paylocity Stock Performance

PCTY stock traded down $0.26 on Thursday, hitting $199.21. The company's stock had a trading volume of 341,815 shares, compared to its average volume of 462,395. Paylocity Holding Co. has a 1 year low of $129.94 and a 1 year high of $223.80. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.28. The stock has a market cap of $11.00 billion, a price-to-earnings ratio of 51.08, a price-to-earnings-growth ratio of 4.49 and a beta of 0.58. The firm has a 50 day moving average of $187.74 and a two-hundred day moving average of $197.27.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced 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. The business had revenue of $454.55 million during the quarter, compared to the consensus estimate of $441.77 million. Paylocity had a net margin of 14.76% and a return on equity of 22.45%. The business's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.21 earnings per share. Equities analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Insider Activity

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