Man Group plc decreased its position in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 38.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,649 shares of the software maker's stock after selling 98,633 shares during the quarter. Man Group plc owned 0.28% of Paylocity worth $31,247,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Barclays PLC increased its holdings in Paylocity by 14.3% in the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker's stock valued at $7,407,000 after purchasing an additional 5,609 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in Paylocity by 63.3% in the fourth quarter. Park Avenue Securities LLC now owns 5,590 shares of the software maker's stock worth $1,115,000 after acquiring an additional 2,167 shares during the last quarter. Merit Financial Group LLC lifted its holdings in Paylocity by 4.7% in the fourth quarter. Merit Financial Group LLC now owns 26,827 shares of the software maker's stock worth $5,351,000 after acquiring an additional 1,209 shares during the last quarter. Kera Capital Partners Inc. bought a new stake in shares of Paylocity during the fourth quarter valued at approximately $226,000. Finally, UMB Bank n.a. increased 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 valued at $49,000 after acquiring an additional 72 shares during the period. Hedge funds and other institutional investors own 94.76% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the stock. KeyCorp lowered their price objective on shares of Paylocity from $250.00 to $220.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus cut their target price on shares of Paylocity from $250.00 to $235.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. StockNews.com raised shares of Paylocity from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. JMP Securities reiterated a "market outperform" rating and issued a $270.00 price objective on shares of Paylocity in a research note on Tuesday, April 29th. Finally, UBS Group lifted their price target on shares of Paylocity from $195.00 to $200.00 and gave the company a "neutral" rating in a report 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $223.00.
Check Out Our Latest Analysis on PCTY
Insider Buying and Selling at Paylocity
In other Paylocity news, Director Steven I. Sarowitz sold 26,252 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.91, for a total value of $5,116,777.32. Following the completion of the sale, the director now directly owns 420,000 shares in the company, valued at $81,862,200. This trade represents a 5.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 21.91% of the stock is owned by corporate insiders.
Paylocity Trading Down 0.3%
Shares of PCTY traded down $0.65 during trading hours on Monday, hitting $200.39. 385,631 shares of the stock traded hands, compared to its average volume of 463,325. 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 firm has a market capitalization of $11.07 billion, a PE ratio of 51.38, a price-to-earnings-growth ratio of 4.49 and a beta of 0.58. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80. The business has a fifty day moving average of $188.60 and a 200-day moving average of $197.91.
Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.34. Paylocity had a return on equity of 22.45% and a net margin of 14.76%. The firm had revenue of $454.55 million during the quarter, compared to analysts' expectations of $441.77 million. During the same period in the previous year, the firm earned $2.21 EPS. The company's quarterly revenue was up 13.3% compared to the same quarter last year. Analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current year.
About Paylocity
(
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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