Man Group plc Trims Holdings in Paylocity Holding Co. (NASDAQ:PCTY)

Man Group plc lessened its holdings in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 38.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 156,649 shares of the software maker's stock after selling 98,633 shares during the period. Man Group plc owned approximately 0.28% of Paylocity worth $31,247,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. SBI Securities Co. Ltd. acquired a new position in Paylocity during the 4th quarter worth approximately $29,000. UMB Bank n.a. boosted its stake in shares of Paylocity by 41.1% in the fourth quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock valued at $49,000 after buying an additional 72 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Paylocity by 489.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock worth $54,000 after acquiring an additional 225 shares during the period. Steward Partners Investment Advisory LLC raised its position in Paylocity by 29.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 274 shares of the software maker's stock worth $55,000 after acquiring an additional 63 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in Paylocity in the fourth quarter valued at $72,000. Institutional investors and hedge funds own 94.76% of the company's stock.

Insider Buying and Selling

In related news, Director Steven I. Sarowitz sold 26,252 shares of the company's stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 21.91% of the stock is currently owned by corporate insiders.

Paylocity Trading Down 0.8%

Shares of PCTY traded down $1.59 during mid-day trading on Wednesday, reaching $198.97. 52,443 shares of the company were exchanged, compared to its average volume of 461,454. The business has a 50 day simple moving average of $188.60 and a two-hundred day simple moving average of $197.91. Paylocity Holding Co. has a 52 week low of $129.94 and a 52 week high of $223.80. The stock has a market capitalization of $10.99 billion, a PE ratio of 50.99, a PEG ratio of 4.49 and a beta of 0.58. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14.

Paylocity (NASDAQ:PCTY - Get Free Report) last released 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. The company had revenue of $454.55 million during 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%. Paylocity's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.21 EPS. On average, analysts predict that Paylocity Holding Co. will post 4.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. StockNews.com raised shares of Paylocity from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Needham & Company LLC restated a "buy" rating and set a $250.00 price objective on shares of Paylocity in a research report on Friday, May 2nd. UBS Group increased their target price on Paylocity from $195.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Stifel Nicolaus reduced their price objective on Paylocity from $250.00 to $235.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, JMP Securities reissued a "market outperform" rating and set a $270.00 price target on shares of Paylocity in a research note on Tuesday, April 29th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Paylocity has a consensus rating of "Moderate Buy" and an average target price of $223.00.

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.