Assenagon Asset Management S.A. Has $2.03 Million Position in Paylocity Holding Co. (NASDAQ:PCTY)

Assenagon Asset Management S.A. lessened its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 67.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,327 shares of the software maker's stock after selling 25,086 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Paylocity were worth $2,032,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Liontrust Investment Partners LLP acquired a new stake in Paylocity in the third quarter valued at approximately $90,181,000. Norges Bank acquired a new stake in Paylocity in the fourth quarter valued at approximately $86,063,000. Invesco Ltd. grew its position in Paylocity by 20.7% in the first quarter. Invesco Ltd. now owns 1,382,116 shares of the software maker's stock valued at $284,399,000 after acquiring an additional 236,876 shares in the last quarter. Man Group plc grew its position in Paylocity by 1,749.5% in the fourth quarter. Man Group plc now owns 187,721 shares of the software maker's stock valued at $36,467,000 after acquiring an additional 177,571 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Paylocity by 70.1% in the first quarter. Renaissance Technologies LLC now owns 412,000 shares of the software maker's stock valued at $81,897,000 after acquiring an additional 169,800 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. KeyCorp lowered their price objective on shares of Paylocity from $197.00 to $186.00 and set an "overweight" rating for the company in a research report on Friday, February 9th. Truist Financial lowered their price objective on shares of Paylocity from $250.00 to $200.00 and set a "buy" rating for the company in a research report on Friday, February 9th. JMP Securities reissued a "market outperform" rating and set a $250.00 price target on shares of Paylocity in a research report on Monday, January 22nd. Jefferies Financial Group reissued a "hold" rating and set a $180.00 price target (down previously from $240.00) on shares of Paylocity in a research report on Friday, January 5th. Finally, Mizuho decreased their price target on shares of Paylocity from $170.00 to $155.00 and set a "neutral" rating for the company in a research report on Friday, February 9th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Paylocity has a consensus rating of "Moderate Buy" and an average target price of $205.13.

Paylocity Price Performance

PCTY traded down $0.51 during trading hours on Friday, hitting $165.07. 259,263 shares of the stock were exchanged, compared to its average volume of 481,001. The stock has a 50-day simple moving average of $168.48 and a 200-day simple moving average of $167.56. Paylocity Holding Co. has a 12 month low of $139.40 and a 12 month high of $230.52. The stock has a market cap of $9.30 billion, a price-to-earnings ratio of 55.77, a price-to-earnings-growth ratio of 3.61 and a beta of 0.87.

Paylocity (NASDAQ:PCTY - Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The software maker reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.08. The firm had revenue of $326.36 million for the quarter, compared to analysts' expectations of $324.34 million. Paylocity had a return on equity of 21.37% and a net margin of 12.96%. Sell-side analysts expect that Paylocity Holding Co. will post 3.48 EPS for the current year.

Insider Buying and Selling at Paylocity

In other Paylocity news, Director Jeffrey T. Diehl sold 1,760 shares of the firm's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $171.64, for a total value of $302,086.40. Following the sale, the director now directly owns 14,704 shares in the company, valued at $2,523,794.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Paylocity news, Director Jeffrey T. Diehl sold 1,760 shares of the firm's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $171.64, for a total value of $302,086.40. Following the sale, the director now directly owns 14,704 shares in the company, valued at $2,523,794.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey T. Diehl sold 20,032 shares of the firm's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $168.55, for a total value of $3,376,393.60. Following the transaction, the director now directly owns 16,391 shares in the company, valued at $2,762,703.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,947 shares of company stock worth $9,585,217. 22.50% of the stock is owned by insiders.

About Paylocity

Paylocity Holding Corporation provides cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers Payroll and Tax Services solution to simplifies payroll, automates processes, and manages compliance requirements within one system; and expense management, on demand payment, and garnishment solutions.