Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC decreased its holdings in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 280,487 shares of the software maker's stock after selling 6,505 shares during the period. TimesSquare Capital Management LLC owned approximately 0.50% of Paylocity worth $46,238,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PCTY. GAMMA Investing LLC purchased a new position in shares of Paylocity during the 4th quarter worth approximately $36,000. RiverPark Advisors LLC acquired a new position in Paylocity during the 3rd quarter worth about $43,000. Signaturefd LLC boosted its holdings in Paylocity by 115.5% during the 3rd quarter. Signaturefd LLC now owns 502 shares of the software maker's stock valued at $91,000 after acquiring an additional 269 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new stake in Paylocity during the fourth quarter worth about $93,000. Finally, Covestor Ltd lifted its position in shares of Paylocity by 18.6% during the third quarter. Covestor Ltd now owns 836 shares of the software maker's stock worth $152,000 after purchasing an additional 131 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PCTY has been the topic of several recent research reports. KeyCorp increased their target price on shares of Paylocity from $186.00 to $200.00 and gave the stock an "overweight" rating in a report on Friday, May 3rd. Citigroup upped their price target on Paylocity from $180.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, January 31st. Truist Financial lowered their price objective on Paylocity from $250.00 to $200.00 and set a "buy" rating for the company in a research report on Friday, February 9th. 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 note on Friday, February 9th. Finally, TD Cowen dropped their price objective on shares of Paylocity from $188.00 to $180.00 and set a "buy" rating on the stock in a research report on Friday, May 3rd. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $196.67.

Insider Activity

In related news, Director Steven I. Sarowitz sold 24,504 shares of the firm's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $175.47, for a total value of $4,299,716.88. Following the completion of the sale, the director now owns 9,587,872 shares in the company, valued at $1,682,383,899.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Paylocity news, Director Steven I. Sarowitz sold 24,504 shares of the company's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $175.47, for a total value of $4,299,716.88. Following the sale, the director now owns 9,587,872 shares of the company's stock, valued at $1,682,383,899.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine Ross sold 491 shares of the firm's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $168.29, for a total transaction of $82,630.39. Following the transaction, the senior vice president now owns 15,353 shares of the company's stock, valued at $2,583,756.37. The disclosure for this sale can be found here. Insiders have sold a total of 54,547 shares of company stock valued at $9,356,359 over the last quarter. Corporate insiders own 22.50% of the company's stock.

Paylocity Stock Performance

Paylocity stock traded down $4.49 during midday trading on Thursday, hitting $163.79. 576,084 shares of the company's stock were exchanged, compared to its average volume of 496,046. The stock has a market cap of $9.24 billion, a price-to-earnings ratio of 48.92, a price-to-earnings-growth ratio of 3.63 and a beta of 0.88. Paylocity Holding Co. has a 12-month low of $139.40 and a 12-month high of $230.52. The firm's 50 day simple moving average is $165.31 and its 200 day simple moving average is $162.71.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its earnings results on Thursday, February 8th. The software maker reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.08. Paylocity had a return on equity of 22.08% and a net margin of 14.42%. The business had revenue of $326.36 million for the quarter, compared to analyst estimates of $324.34 million. On average, equities research analysts forecast that Paylocity Holding Co. will post 3.48 EPS for the current fiscal year.

Paylocity Profile

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.

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