Paylocity Holding Co. (NASDAQ:PCTY) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC cut its holdings in shares of Paylocity Holding Co. (NASDAQ:PCTY - Free Report) by 41.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,870 shares of the software maker's stock after selling 40,621 shares during the quarter. Cubist Systematic Strategies LLC owned 0.10% of Paylocity worth $11,543,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PCTY. SBI Securities Co. Ltd. purchased a new position in Paylocity during the 4th quarter worth $29,000. UMB Bank n.a. lifted its holdings in Paylocity by 41.1% in the 4th quarter. UMB Bank n.a. now owns 247 shares of the software maker's stock valued at $49,000 after purchasing an additional 72 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of 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 buying an additional 225 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Paylocity by 29.9% in the 4th 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 during the period. Finally, Johnson Financial Group Inc. acquired a new position in shares of Paylocity during the 4th quarter valued at about $72,000. 94.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of Paylocity from $250.00 to $235.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. KeyCorp reduced their target price on Paylocity from $250.00 to $220.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Needham & Company LLC reissued a "buy" rating and issued a $250.00 target price on shares of Paylocity in a report on Friday, May 2nd. Raymond James restated an "outperform" rating and issued a $235.00 price target (down previously from $265.00) on shares of Paylocity in a research note on Friday, May 2nd. Finally, BMO Capital Markets increased their price objective on shares of Paylocity from $210.00 to $226.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $223.00.

Paylocity Stock Down 0.6 %

NASDAQ:PCTY opened at $186.98 on Wednesday. The company has a market cap of $10.45 billion, a PE ratio of 47.94, 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 stock has a 50-day simple moving average of $188.37 and a 200 day simple moving average of $196.56. 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 posted its earnings results on Thursday, May 1st. The software maker reported $2.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.09 by $0.34. The company had revenue of $454.55 million during the quarter, compared to analysts' expectations of $441.77 million. Paylocity had a net margin of 14.76% and a return on equity of 22.45%. Paylocity's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.21 EPS. On average, sell-side analysts expect that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Steven I. Sarowitz sold 23,243 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $191.00, for a total value of $4,439,413.00. Following the transaction, the director now owns 470,452 shares in the company, valued at approximately $89,856,332. The trade was a 4.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 21.91% of the company's stock.

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.

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