Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC cut its stake in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 514,471 shares of the software maker's stock after selling 3,460 shares during the quarter. Janus Henderson Group PLC owned about 0.92% of Paylocity worth $102,622,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PCTY. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in 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 worth $1,916,000 after purchasing an additional 49 shares during the last quarter. Bessemer Group Inc. grew its position in Paylocity by 0.3% during the 4th quarter. Bessemer Group Inc. now owns 19,118 shares of the software maker's stock worth $3,813,000 after purchasing an additional 51 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake 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 purchasing an additional 63 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Paylocity by 41.1% during the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock worth $49,000 after buying an additional 72 shares during the period. Finally, HighPoint Advisor Group LLC grew its stake in Paylocity by 5.1% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,559 shares of the software maker's stock valued at $326,000 after purchasing an additional 75 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.

Paylocity Stock Up 0.9%

NASDAQ PCTY traded up $1.83 during trading hours on Friday, hitting $201.04. 401,084 shares of the company were exchanged, compared to its average volume of 462,139. The company has a 50 day moving average of $188.04 and a two-hundred day moving average of $197.45. The firm has a market cap of $11.10 billion, a price-to-earnings ratio of 51.55, a PEG ratio of 4.49 and a beta of 0.58. Paylocity Holding Co. has a 52-week low of $129.94 and a 52-week high of $223.80. 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 (NASDAQ:PCTY - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, beating analysts' consensus estimates of $2.09 by $0.34. Paylocity had a return on equity of 22.45% and a net margin of 14.76%. The business had revenue of $454.55 million for the quarter, compared to the consensus estimate of $441.77 million. During the same quarter in the prior year, the business posted $2.21 EPS. The business's revenue for the quarter was up 13.3% on a year-over-year basis. Equities research analysts anticipate that Paylocity Holding Co. will post 4.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

PCTY has been the topic of a number of recent research reports. Mizuho lowered their target price on Paylocity from $245.00 to $220.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. KeyCorp dropped their price objective on shares of Paylocity from $250.00 to $220.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Citigroup cut their price objective on shares of Paylocity from $246.00 to $225.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Stifel Nicolaus lowered their target price on shares of Paylocity from $250.00 to $235.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Scotiabank assumed coverage on Paylocity in a research report on Wednesday, April 16th. They set a "sector perform" rating and a $190.00 target price on the stock. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, Paylocity currently has a consensus rating of "Moderate Buy" and an average target price of $223.00.

Insiders Place Their Bets

In related news, Director Steven I. Sarowitz sold 26,252 shares of the 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 completion of the sale, the director now owns 420,000 shares in the company, valued at $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 available at the SEC website. 21.91% of the stock is currently owned by corporate insiders.

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.